Business activities have changed dramatically due to the modification of the exchange policy of the American government in 1993. Especially the introduction of ‘current value accounting’, the changeover to the shareholder-oriented value system and the move towards financial internationalization forced Japanese and German companies to change their norms and adjust their management styles to incorporate systematic reforms and deal with these crises.
However, we should not interpret these transformations as being common practice, easily accomplished. Changes in business management have caused problems such as the weakening of relationships between the company and the employees which hitherto played an important role in Japanese firms. Other problems are caused by the restrictions imposed on the financial system that is centered on the banking institutions.
At present, Japanese and German companies share an interest in similar issues and we are here to discuss what possibilities the management of an enterprise has in tackling these problems.