By Fiona Graham
Eastern white-collar employees were characterized by way of their extreme loyalty and life-long dedication to their businesses. This publication is predicated on very vast ethnographic learn within a jap assurance corporation in the course of the interval while the corporate was once dealing with a tremendous trouble which led to the company's financial ruin and cave in. It examines the attitudes of jap staff in the direction of their paintings, their corporation and comparable matters at a time while the status quo and proven attitudes have been lower than danger. the wide variety and element of the reporting of employees' attitudes, usually of their personal phrases, sustained over a substantial timescale, makes this research a very worthy source.
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Extra info for A Japanese Company in Crisis: Ideology, Strategy, and Narrative (Contemporary Japan)
So when 200 yen to the dollar changed to 100 yen to the dollar, our returns were halved. That is the big difference. The reverberations after that were huge, so everything came tumbling down. I was the head of the New York branch until just before the bubble burst. ’ It was the same as America with a ten-year lag. When I first went to America it was just as Japan is now. Financial institutions were going belly up one by one. But what was different to Japan is that the management were all put away in prison.
This has implications for the future of the company as well as that of individual employees. In the competition between companies, employees are conscious that companies which do not hire and foster specialists are losing out to companies which do. W: Once specialists like that arrive, consumers go to the ones that give them a better deal. And so a general awareness arose of the need for specialists. So our company is now trying to specialise the workforce and split into different areas. For instance, in the pension business, if you don’t pay good wages you won’t get a good workforce.
Thus, for some families that were operating on a tight budget, a 6 per cent pay cut more or less meant that spending money was no longer available as it had been before.