Word: adopting
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Dates: during 2000-2009
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...economic miracle, Japanese business leaders were contemptuous of the dry (read: unsentimental), short-term (read: myopic) obsession with the bottom line that in their view characterized American corporations. In the past 10 years, that attitude has reversed. A Japanese executive recently told me, "Japanese business is trying frantically to adopt an American style of management, and the result is turmoil and confusion. As financial performance continues to drop, top management demands a management revolution?that is, a total denial of our traditional ways of conducting business...
...Oriental Economist newsletter. Edward Lincoln, of the Council on Foreign Relations in Washington, D.C., and author of the book Arthritic Japan: The Slow Pace of Economic Reform, points out that Sony was the first Japanese company to list on the New York Stock Exchange and the first to adopt a Western-style management structure with a board that comprised insider and independent directors alike. "Sony is a global enterprise, so it was expected that at some point a foreigner would become CEO," says Masaru Kaneko, a professor of economics at Keio University in Tokyo. Stringer himself says that approximately...
...This adopt-or-perish attitude helps explain how Thais have survived three decades of breakneck development. "In one dizzying spasm," writes Cornwel-Smith, "Thailand is experiencing the forces that took a century to transform the West." How does a nation modernize this fast without eroding the traditions that define it? In Thailand, "traditional" is now often a pejorative term, meaning low-class or old-fashioned. Many of the temple's social functions have been replaced by the mall, where, the author notes, "the principal rite is the right to shop." What matters most is looking dern. Yes, that's Thai...
...ADOPT A PLAN OF ACTION. The U.N.'s Millennium Development Goals, approved by all of the world's governments at the start of the millennium, are the down payment on ending poverty. The MDGs set out specific targets for cutting poverty, hunger, disease and environmental degradation by 2015 and thereby laid the foundation for eliminating extreme poverty by 2025. The rich and poor countries have solemnly agreed to work toward fulfilling the MDGs. The key is to follow through...
...generation, in the U.S. and abroad, can choose to end extreme poverty by the year 2025. To do it, we need to adopt a new method, which I call "clinical economics," to underscore the similarities between good development economics and good clinical medicine. In the past quarter-century, the development economics imposed by rich countries on the poorest countries has been too much like medicine in the 18th century, when doctors used leeches to draw blood from their patients, often killing them in the process. Development economics needs an overhaul in order to be much more like modern medicine...