Innovation ‐ Japanese style

Within the last two decades, the Japanese economic machine has developed into the leading economy in the world on a per capita income basis and second only to the USA in GNP. Contends that Japan has virtually conquered the US consumer electronics, semiconductor, and machine tool markets and, except for quotas, would have done the same for the automotive segment. Various explanations are offered for Japan’s success and some say it is because of the Japanese ability to listen to and serve their customers by delivering quality merchandise at a low price, while others point to Japanese companies’ ability to innovate. Asks how truly innovative are the Japanese. In what ways do they struggle and prosper innovatively? Examines the notion of “innovation” and how it is accomplished in Japan; explores the positives and negatives of their innovative patterns; and discusses implications for the US and international competition.