Creative Innovative Firms from Japan A Benchmark Inquiry into Firms
This book discusses the ways in which characteristics of innovative firms and innovative talents with core competence in Japanese, Korean, German, and American contexts are developed and nurtured, and compares innovative firms with a long history of busin
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ative Innovative Firms from Japan A Benchmark Inquiry into Firms from Three Rival Nations
Creative Innovative Firms from Japan
Young Won Park Paul Hong •
Creative Innovative Firms from Japan A Benchmark Inquiry into Firms from Three Rival Nations
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Young Won Park Faculty of Economics Saitama University Saitama, Japan
Paul Hong College of Business Innovation University of Toledo Toledo, OH, USA
ISBN 978-981-13-1680-7 ISBN 978-981-13-1681-4 https://doi.org/10.1007/978-981-13-1681-4
(eBook)
Library of Congress Control Number: 2018951400 © Springer Nature Singapore Pte Ltd. 2019 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Singapore Pte Ltd. The registered company address is: 152 Beach Road, #21-01/04 Gateway East, Singapore 189721, Singapore
Executive Summary
This book examines innovative firms and their talents in the Japanese, German, American, and Korean contexts. The investigation also focuses on the development of these characteristics over a long period of time. In 1970, 500 firms were listed as Fortune 500. One third of them disappeared by merger, alliance, and liquidation within 13 years. This is somewhat shocking. The American Enterprise Institute (AEI) states that, when comparing the 1955 Fortune 500 companies to the 2016 Fortune 500, only 60 companies (such as 3M, DuPont, GE, IBM, and Boeing) appear in both lists. In other words, only 12% of the Fortune 500 companies in 1955 were still on the list 61 years later. Many companies on the list in 1955 are unrecognizable or forgotten companies today. Furthermore, currently there are 7,212 longevity enterprises (more than 200 years old) in 57 countries—3,113 in Japan, 1,563 in Germany, 331 in France, 315 in the UK, and 292 in the Netherlands. The USA and Korea are ranked as two of the most innovative countries in the wor
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