Japan’s Corporate Comeback: Inside the Resolute Japan Model, w/ Wharton Prof. Michael Useem - EP260

Wharton Professor Michael Useem joins host Gene Tunny to discuss his new book, Resolute Japan, which unveils Japan’s emerging shift in management practices fueling a corporate revival. Japanese companies are adopting ambidextrous management, empowering frontline employees, and embracing Western practices while retaining stakeholder-first traditions. He emphasizes the importance of top management in driving change and the potential for Japan to regain global economic prominence by learning from domestic and international best practices.If you have any questions, comments, or suggestions for Gene, please email him at [email protected]  or send a voice message via https://www.speakpipe.com/economicsexplored. Timestamps for EP260Introduction and Overview of the Podcast (0:00)Japan's Economic Downturn and Resurgence (3:30)Methodology and Interview Process (5:44)Innovative Management Practices in Japan (11:29)Ambidextrous Management and Global Influence (21:51)Challenges and Opportunities for Japan (42:36)Economic Research on Management Impact (42:58)Final Thoughts and Recommendations (52:47)TakeawaysJapanese companies are adopting innovative management practices, such as empowering frontline employees and embracing the "gemba walk" to better understand operations.Japanese companies are retaining their commitment to stakeholders, including employees, the community, and the country, while also becoming more open to adopting Western-style management principles.The concept of "ambidextrous management" is emerging, where companies are exploring new industries while exiting declining ones, demonstrating a willingness to adapt to changing market conditions.There is an increasing openness among Japanese companies to learn from and adopt best practices from other countries, which is helping drive their resurgence.The impact of top management changes can significantly influence a company's performance, suggesting the importance of resolute leadership in driving change and improvement.Links relevant to the conversationProfessor Michael Useem’s profile:https://mgmt.wharton.upenn.edu/profile/useem/Resolute Japan book:https://www.amazon.com.au/Resolute-Japan-Leaders-Corporate-Resurgence/dp/1613631820OECD Economic Surveys - Japan 2024:https://www.oecd-ilibrary.org/economics/oecd-economic-surveys-japan-2024_41e807f9-enLumo Coffee promotion10% of Lumo Coffee’s Seriously Healthy Organic Coffee.Website: https://www.lumocoffee.com/10EXPLOREDPromo code: 10EXPLORED Thanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.