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Goals and Philosophies

In: Trends in Japanese Management

Author

Listed:
  • Toyohiro Kono
  • Stewart Clegg

Abstract

Top management usually create corporate goals and creeds in the early history of the corporation that capitalise on their knowledge and experience. As the corporation develops, such creeds have to integrate the values of multiple stakeholders and interest groups. In Japan the interests of banks, employees and the company president have been most strongly represented, and this representation has been translated into an emphasis on long-term growth. However since the economic no-growth period in the 1990s the power of shareholders has increased. Top management initiate and make final decisions on corporate goals but they do not so unilaterally. Changes in the value and power of stakeholders and other interest groups, as well as changing opportunities in the market, have to be taken into consideration. These changes need to be reflected in the business creed: to this end many companies have created a study team of young managers whose task is to undertake a periodic revision of the creed.

Suggested Citation

  • Toyohiro Kono & Stewart Clegg, 2001. "Goals and Philosophies," Palgrave Macmillan Books, in: Trends in Japanese Management, chapter 3, pages 77-107, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-333-99389-7_3
    DOI: 10.1057/9780333993897_3
    as

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