Management of Enterprise Crises in Japan

209 Pages·2013·1.17 MB·English

by  Yasuhiro Monden

MANAGEMENT OF
ENTERPRISE CRISES
IN JAPAN
8774hc.9789814508506-tp.indd 1 28/2/13 5:24 PM
Japanese Management and International Studies
(ISSN: 2010-4448)
Editor-in-Chief: Yasuhiro Monden (Tsukuba University, Japan)
Published
Vol. 1 Value-Based Management of the Rising Sun
edited by Yasuhiro Monden, Kanji Miyamoto, Kazuki Hamada,
Gunyung Lee & Takayuki Asada
Vol. 2 Japanese Management Accounting Today
edited by Yasuhiro Monden, Masanobu Kosuga,
Yoshiyuki Nagasaka, Shufuku Hiraoka & Noriko Hoshi
Vol. 3 Japanese Project Management:
KPM — Innovation, Development and Improvement
edited by Shigenobu Ohara & Takayuki Asada
Vol. 4 International Management Accounting in Japan:
Current Status of Electronics Companies
edited by Kanji Miyamoto
Vol. 5 Business Process Management of Japanese and Korean Companies
edited by Gunyung Lee, Masanobu Kosuga, Yoshiyuki Nagasaka &
Byungkyu Sohn
Vol. 6 M&A for Value Creation in Japan
edited by Yasuyoshi Kurokawa
Vol. 7 Business Group Management in Japan
edited by Kazuki Hamada
Vol. 8 Management of an Inter-Firm Network
edited by Yasuhiro Monden
Vol. 9 Management of Service Businesses in Japan
edited by Yasuhiro Monden, Noriyuki Imai, Takami Matsuo &
Naoya Yamaguchi
Vol. 10 Management of Enterprise Crises in Japan
edited by Yasuhiro Monden
Japanese Management and International Studies – Vol. 10
MANAGEMENT OF
ENTERPRISE CRISES
IN JAPAN
editor
Yasuhiro Monden
Tsukuba University, Japan
World Scientific
NEW JERSEY • LONDON • SINGAPORE • BEIJING • SHANGHAI • HONG KONG • TAIPEI • CHENNAI
8774hc.9789814508506-tp.indd 2 28/2/13 5:24 PM
Published by
World Scientific Publishing Co. Pte. Ltd.
5 Toh Tuck Link, Singapore 596224
USA office: 27 Warren Street, Suite 401-402, Hackensack, NJ 07601
UK office: 57 Shelton Street, Covent Garden, London WC2H 9HE
Library of Congress Cataloging-in-Publication Data
Monden, Yasuhiro, 1940–
Management of enterprise crises in Japan / by Yasuhiro Monden.
pages cm. -- (Japanese management and international studies, ISSN 2010-4448 ; vol. 10)
Includes bibliographical references and index.
ISBN 978-9814508506
1. Management--Japan. 2. Crisis management--Japan. 3. Natural disasters--Economic
aspects--Japan. 4. Business failures--Japan. I. Title.
HD70.J3M5957 2014
658.4'770952--dc23
2013027368
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library.
Copyright © 2014 by World Scientific Publishing Co. Pte. Ltd.
All rights reserved. This book, or parts thereof, may not be reproduced in any form or by any means,
electronic or mechanical, including photocopying, recording or any information storage and retrieval
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In-house Editors: Sandhya Venkatesh/Chitralekha Elumalai
Typeset by Stallion Press
Email: [email protected]
Printed in Singapore
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Japan Society of Organization and
Accounting (JSOA)
President
Gunyung Lee, Niigata University, Japan
Vice Presidents
Kazuki Hamada, Kwansei Gakuin University, Japan
Yoshiyuki Nagasaka, Konan University, Japan
Directors
Henry Aigbedo, Oakland University, USA
Shufuku Hiraoka, Soka University, Japan
Mahfuzul Hoque, University of Dhaka, Bangladesh
Noriko Hoshi, Hakuoh University, Japan
Tomonori Inooka, Kokushikan University, Japan
Chao Hsiung Lee, National Chung Hsing University, Taiwan
Yoshiteru Minagawa, Nagoya Gakuin University, Japan
Kozo Suzuki, Tokyo Metropolitan Government, Japan
Founder & Editor-in-Chief
Japanese Management and International Studies
Yasuhiro Monden, Tsukuba University, Japan
Auditor
Kanji Miyamoto, Osaka Gakuin University, Japan
Assistant Managers
Naoya Yamaguchi, Niigata University, Japan
Hiromasa Hirai, Takasaki City University of Economics
Mission of JSOA and Editorial Information
For the purpose of making a contribution to the business and academic
communities, the Japan Society of Organization and Accounting (JSOA)
is committed to publishing the book series, entitled Japanese Management
and International Studies, with a refereed system.
Focusing on Japan and Japan-related issues, the series is designed to
inform the world about research outcomes of the new “Japanese-style
v
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vi JapanSocietyofOrganizationandAccounting(JSOA)
management system” developed in Japan. However, as the series title sug-
gests, it also promotes “International Studies” on the interface of manage-
rial competencies between Japan and other countries that include Asian
countries as well as Western countries under the globalized business activ-
ities of Japanese companies.
Research topics included in this series are management of organiza-
tions in a broad sense (including the business group or networks) and the
accountingthatsupportstheorganization.Morespecifically,topicsinclude
business strategy, business models, organizational restoration, corporate
finance, M&A, environmental management, operations management, man-
agerial & financial accounting, manager performance evaluation, reward
systems. The research approach is interdisciplinary, which includes case
studies, theoretical studies, normative studies and empirical studies, but
emphasizes real world business.
Each volume contains the series title and a book title which reflects the
volume’s special theme.
Our JSOA’s board of directors has established an editorial board of
international standing. In each volume, guest editors who are experts on
the volume’s special theme serve as the volume editors.
The details of JSOA are shown in its by-laws contained in the home-
page: http://jsoa.sakura.ne.jp/english/index.html
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Editorial Board
Japanese Management and International Studies
Editor-in-Chief
Yasuhiro Monden, Tsukuba University, Japan
Managing Editors
Kazuki Hamada, Kwansei Gakuin University, Japan
Shufuku Hiraoka, Soka University, Japan
Noriko Hoshi, Hakuoh University, Japan
Tomonori Inooka, Kokushikan University, Japan
Gunyung Lee, Niigata University, Japan
Yoshiyuki Nagasaka, Konan University, Japan
Henry Aigbedo, Oakland University, USA
Mahfuzul Hoque, University of Dhaka, Bangladesh
Chao Hsiung Lee, National Chung Hsing University, Taiwan
Editorial Advisory Board
P’eter Horv’ath, University Stuttgart, Germany
Arnd Huchzermeier, WHU Koblenz, Germany
Christer Karlsson, Copenhagen Business School, Denmark
Rolf G Larsson, Lund University, Sweden
John Y. Lee, Pace University, USA
Kenneth A. Merchant, University of Southern California, USA
Jose Antonio Dominguez Machuca, University of Sevilla, Spain
Tengku Akbar Tengku Abdullah, Universiti Kebangsaan Malaysia,
Jimmy Y.T. Tsay, National Taiwan University, Taiwan
Mohammad Aghdassi, Tarbiat Modarres University, Iran
Mahmuda Akter, University of Dhaka, Bangladesh
Walid Zaramdini, Al Akhawayn University, Morocco
Takayuki Asada, Ritsumeikan University, Japan
Takahiro Fujimoto, University of Tokyo, Japan
Masanobu Kosuga, Kwansei Gakuin University, Japan
Yoshiteru Minagawa, Nagoya Gakuin University, Japan
Kanji Miyamoto, Osaka Gakuin University, Japan
Susumu Ueno, Konan University, Japan
Eri Yokota, Keio University, Japan
vii
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Contents
Preface xi
About the Editor xv
List of Contributors xvii
PART 1: Business Turnaround under Public
Financial Support 1
1. How Can All Stakeholders “Share the Burden”
of Solving Damage Liability and Turnaround
of Nuclear Power Electric Company? 3
Yasuhiro Monden and Masaaki Imabayashi
2. The Turnaround of Japan Airlines 31
Naoyuki Kaneda
PART 2: Private Turnaround to Cope
with the Business Crisis 47
3. The Choice that Samsung Electronics Made
in the Monetary Crisis of 1997 49
Hyeun Kyoung Song and Gunyung Lee
4. Activities of Cross-Functional Teams (CFTs)
in Nissan: Considering from
Revitalization Activities and their Results 65
Kazuki Hamada
5. Overcoming the Business Crisis by Applying
Capital Cost Management: Case Study
of the Panasonic Group 83
Shufuku Hiraoka
ix