Word: vogel
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Japan has sustained its astounding level of economic success largely because Japanese businesses are better than their Americans counterparts at automating their factories, serving their customers, and conducting product research, Professor of Sociology Ezra Vogel told an audience of 50 last night...
...Vogel, whose address was the first in a series of lectures, spoke on the reasons for Japan's past economic success, the nation's prospects for the future, and the causes of Japanese dominance of American business...
Japan's past economic success stems, in large part, from its business philosophy, Vogel said. While American companies tend to react drastically to economic crises, Japanese businesses are more likely to "tighten their belts and ride out" economic problems, he explained...
Japan's current dominance of the international market is primarily due to the high level of automation in its manufacturing facilities, Vogel said...
...Vogel said the nations of East Asia--Hong Kong, Japan, South Korea, Singapore and Taiwan--probably will continue to increase in power for the forseeable future...