Japan—new business opportunities in an established market

Haghirian, P., Sinkovics, R. R. and Bamiatzi, V. (2008) Japan—new business opportunities in an established market. Global Business and Organizational Excellence, 28(1), pp. 51-61. (doi: 10.1002/joe.20241)

Abstract

The recession during the last decade hit Japan's image as an economic powerhouse hard. It added a layer of skepticism to the already existing difficulties in coping with tariff and nontariff entry barriers as well as cultural and business differences. However, even against the background of strong economic transformations in countries such as India and especially China and a strong enthusiasm for dealing with these upcoming economies, it should not be forgotten that Japan is still the world's second-largest economy in terms of gross domestic product. Japan offers an array of business opportunities for foreign investors. As employment and other traditions are under pressure from a young generation more in tune with Western culture and ideas, the Japanese triad market allows for a promising future. This article aims to inform managers who wish to extend their market reach of the tremendous opportunities in the Japanese market. We unveil cultural particulars and challenges for foreign businesses that allow for a refreshed look into the economic miracle of the second half of the twentieth century.

• Item Type: Articles
• Keywords: Market Entry, Business Opportunities, Japan,
• Status: Published
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: Sinkovics, Professor Rudolf
• Authors: Haghirian, P., Sinkovics, R. R., and Bamiatzi, V.
• College/School: College of Social Sciences > Adam Smith Business School > Management
• Journal Name: Global Business and Organizational Excellence
• Publisher: Wiley
• ISSN: 1932-2054
• ISSN (Online): 1932-2062
• Published Online: 09 October 2008