Is Japan Out of the Economic Game? Some Say Far From It

The entire world watched as the Japanese economy tumbled during the 1990s. Its competitors cheered. What does Japan's economic future look like? You may find this article of interest--especially those of you who share my interest in the role of culture in shaping business.

Guided by the ancient philosophy of bushido (not Bush-ido!), a new generation of Japanese companies is set to emerge on the global scene. In Miyamoto Musashi’s classic handbook for Japanese strategists, The Book of Five Rings, the samurai’s way to survival is highly dependent on bushido — a philosophy that teaches patience, frugality, and constant self-improvement. In single combat, the samurai swordsmen stand face-to-face within striking distance of each other, each waiting for his opponent to make the first move. The weaker man, no longer able to bear the strain of waiting, will eventually strike the first blow. But the instant he makes his move, his opponent will also move, not to defend but to attack.

Following this philosophy, Japanese business strategists believe that patience and concentration constitute the highest form of strategy, a kind of discipline that can be acquired only after years of training. Musashi also emphasizes the need for superior intelligence in building strategy, which can be achieved through “knowing whether or not the spirits of the opponents are high or are waning, knowing the psychology of the opponent’s troops, having a grasp of the prevailing conditions of the site of conflict, and observing the conditions of the opponents.”

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This raises an important question in my mind. What philosophical principles will underlie America's future economic development, especially as we look at the hollowing out of our economy that is taking place right now ala offshoring, mergers and acquisitions, and other powerful business strategies? This is one all of us in the economic development need to think about.