Abstract
AbstractA small country in the Far East without any significant resources except for manpower emerged as an industrialized country in the early 1960s. Highlighting the characteristic features of business management in Japan, this paper develops the argument as to why and how Japanese firms have been mobilizing people for business activity. The paper also touches on external and internal factors contributing to economic success, which indicate how the country has reached its current state of development. Japan could be a country with a very appropriate management style for an economy where the consumer is sovereign and the subjective theory of value is dominant.
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