The economy of Japan was dominated by the zaibatsu, which were large groups of industries. Zaibatsu’s were large financial and industrial business enterprises in the cement manufacturing, shipbuilding, paper, mining, insurance, and banking sectors…
Download full paperFile format: .doc, available for editing
Download file to see previous pages
These enterprises were established by the Meiji government in the late nineteenth century, as a way to invigorate Japan’s industrialization. Therefore, the main reason for the formation of these business enterprises was to respond to failures in the market. Companies owned by these zaibatsu’s were vertically organized and owned by families and sometimes, holding companies. According to Rosati (1993), trading companies and banks were the most powerful industries among the zaibatsu. This is because they controlled the distribution of goods and operations among the zaibatsu’s. The zaibatsu were abolished at the end of the Second World War by the Allied Occupation Forces, when their shares were allocated to the Japanese public, in order to promote competition and equality. Rosati points out that “during this period, however, the private sector had little funding capacity, and corporations among themselves unable to raise the capital they needed” (1993, p. 85). It was during this time that the practice of raising funds through loans from banks was embraced. Due to the low prices of shares and accumulation of capital in the private sector, corporations were exposed to acquisitions. This was further compounded by the fact that the stock owning capacity of banks was limited by the 1947 Antimonopoly Act (Rosati, 1993). Consequently, corporations had to invest somewhat equal amounts of capital among themselves to create stability among shareholders although there was no physical exchange of the money. In the 1960s, Japan joined the Organization for Economic Cooperation and Development (OECD) and this led to a relaxation of capital transaction policies by the government. Since the owners of the corporations feared being taken over by foreign investors, they conducted cross ownership that brought back the links that had existed among zaibatsu groups prior to the Second World War and this led to the formation of Keiretsu groups. Keiretsu groups were very significant in rejuvenating the economy of Japan after the Second World War. Small industries in Japan were able to develop, despite the fact that Japan’s economy was detached for the world markets and highly monitored. Examples of keiretsus include Mitsui and Mitsubishi. South Korea's Chaebols: Origins and Features Chaebols were established by the Japanese colonial rule in Korea during the 1920s and 1930s. In fact, Korea’s Chaebols were formed in a similar way to the Japanese keiretsus. The main reason for the establishment of Chaebols was so that Japan could benefit from Korea’s economic development. The establishment of chaebols began when Japan set up privately owned businesses in Korea, but strictly controlled business procedures, license applications, and credit. Japanese rule in Korea eventually came to an end, and this gave the Korean’s freedom to adjust the business procedures and processes of the Chaebols. Dubois (2004) points out that “the effort was coordinated by president Park Chung Hee, the president of South Korea from 1961 until his assassination in 1976” (p. 42). Under the concept of chaebols, conglomerates usually controlled by a family were formed under a sole holding company. Each company held another company’s shares and through this, they were all interlinked. The chaebols however had no financial institutions and this required financial support from the government, since South Korea’s banks are joined together and controlled by the government.
...Download file to see next pagesRead More
Cite this document
(“Similarities and differences between japan's keiretsu and south Essay”, n.d.)
Retrieved de https://studentshare.org/business/1478496-what-are-the-similarities-and-differences-between
(Similarities and Differences Between japan'S Keiretsu and South Essay)
“Similarities and Differences Between japan'S Keiretsu and South Essay”, n.d. https://studentshare.org/business/1478496-what-are-the-similarities-and-differences-between.
Islamic finance has become a centre of attention in the global financial market with its practice mainly focused on being ethical which is based on the teachings of Prophet Mohammad (P.B.U.H) and the Holy Scripture of the Muslims with the principle consistent with Shariah (Islamic law), The Holy Qur’an.
Though, there is no particular method which could assure hundred percent safety and security of data, as a result there is a critical need for a set of standards or principles to help make sure a sufficient level of safety is achieved, resources are utilized effectively, and the most excellent safety practices are implemented.
Action research and audit appear to be two sides of the same coin. They are demanding disciplines requiring skilled personnel with aptitude and abilities for gathering of data and analysis. Their skills and expertise are honed through practice, training and perseverance under the guidance of capable, experienced leadership.
They go to try solving their problem as long as they can. They think a solution ahead before they fall down into depression. They believe that it can stated another term for belief oneself and in the faith in God. They believe that every problem has it own solution.
On the other hand, the tone and the message contained within highlights their differences in how they approach the same subject. However, before we examine their differences, it is more important to understand how they are similar to each
By the 1980s the top ten chaebols alone held 25 percent of Korea’s manufacturing industry and the country’s economy became heavily dependent on these huge conglomerates as chaebols expand and developed sectors such as shipbuilding, heavy engineering, consumer electronics and, more recently, automobiles. (Channon, p. 35) (See Appendix 2)
However, the constitution can also be used to prevent the elites from oppressing the less influential.
It is normal for any constitution review to be based on neutrality and free from political influence for fair
Entrepreneurship is highly encouraged and these entrepreneurial businesses most of which are run by families and are seen to develop to become multinational companies with government support (Mo & Brady, 2010).
Its free market system is not controlled by monopolies or
Considering the nature of God, Christianity focuses on the concept of the Trinity. God the Father, God the Son and God the Holy Spirit represent the concept of God. Christianity believes in one God, who is represented in these three forms. Jesus plays a particularly important role in understanding the nature of God.
5 Pages(1250 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Similarities and differences between japan's keiretsu and south korea's chaebol"
with a personal 20% discount.