Compare and contrast business systems in Japan and China. Answer with Essay - 1

Compare and contrast business systems in Japan and China. Answer with reference to relevant theories and use comparative country - Essay Example As identified by Gordon Redding, who serves as a professor in the management department at the University of Hong Kong, the global arena can be categorized under five major cuisines and three of these cuisines which can act as a gateway to economic prosperity are Asian – namely Japanese, Chinese and Korean. By effectively integrating the cultural norms, values and traditions of the land of Asia which are characterized by the presence of collectivism rather than Western individualism, the aforementioned Asian nations have been able to develop a unique and admirable model that has enabled them to address the requirements of their cultural practices.The key element in this scenario however, is the finesse with which Japanese, Chinese and Korean business and management systems have been able comprehend the â€Å"hierarchy-sensitive and collectivist norms of Asian culture† to unite the organization as an energetic group. The Japanese economy emerged as a leading force on an international level as a consequence of events which occurred in the nation during the post-war period. The extensive expansion and growth which was experienced by the economy precisely took place from 1955 to 1990, thereby, permitting the living standards of Japanese citizens to coincide and eventually exceed those of their Western counterparts. An examination of the business systems in Japan can only be conducted effectively once the historical background of the development of state-business relations is assessed from multiple perspectives. In this regard, the implementation of state policies in Japan before World War II and after World War II must be highlighted and their association with the present scenario identified. Towards the departure of the 19th century, the process of industrialization was initiated in Japan amidst strong state intervention in the formulation of industrial policy which was characterized by the agenda of establishing a wealthy nation with unparalleled military strength. A fundamental feature of the economy during this time was that of high concentration with the focus of the government directed towards developing industries which could be termed as strategically significant to the state. In this case, the influence of the government in the entire process meant that industrialization was promoted for the purposes of fulfilling a particular political agenda rather than maximizing the well-being of citizens. While, the influence of the state on the economic affairs of the land remained constant in the period preceding World War II, the traditional forces of Japanese culture exercised similar power over business systems. Assessing the influence of such elements on the development of Japanese business and managerial practices, Chen outlines the role of large business groups that are termed as keiretsus who have been dominating the nation’s economy to the present day (4). A defi ning feature of keiretsus is their relationship with the zaibztsus which comprised of individuals belonging to the same family managing large-scale financial and industrial business

Different key factors that influence the failure of projects Essay

Different key factors that influence the failure of projects - Essay Example Industries view project failures as either a pathological state to be avoided or a logical problem of goal definition (Lindahl & Rehn, 2007). This paper will focus on the different key factors that influence the failure of projects especially on the field of information technology (IT). It will discuss the different stages in the project lifecycle and the possible areas of failures in each stage. Furthermore, the paper will tackle the concept of risk management and its benefits in a successful project development as well as in preventing failures. A successful risk management system incorporated in a project will create a programme for handling probable causes of project failures. IT projects fail when it does not meet one or more of its criteria for success. The criteria for successful IT projects are delivery on time, completion on or under budget, and satisfaction of user requirements. Only a few projects achieve all three (Grossman, 2003). In summary, failure can be defined as a system which does not perform as expected, not operational at a specified time and cannot be used in the way expected. There are four key factors that can be associated with project failures. These are design, data, cost and operations. A poor design phase can result in a system that does not match customer expectation, or fails to capture the basic business requirements. The data factor may include inaccurate, inconsistent, not available or incomplete information and records. The cost factor involves the operational costs to implement and run the system that far exceeds the identified business benefit. A survey showed that 35% of all major information systems projects are over budget, termed "runaways", such as the Stock Exchange Taurus Project and the London Ambulance Service (Flowers, 1996). Project Lifecycle The project lifecycle defines the beginning and the end of a project. It is a collection of generally sequential and sometimes overlapping project phases whose name and number are determined by the management and control needs of the organisation (Project Management Institute, Inc, 2008). It also determines which transitional actions are included and which are not in every stage of the project from beginning to end. It can be used to link the project to the ongoing operations of the organisation. (Choudhuri, 2005) The first phase of the lifecycle is the initiating process which involves those processes performed to define a new project by obtaining the authorization needed to start the project. The second phase is the planning process which includes those processes required in establishing the scope of the project, refining the objectives, and defining the course of action in order to attain the objectives of the project. The third phase is the executing process which encompasses those processes performed to complete the work defined and to satisfy project specifications. The fourth phase is the monitoring and controlling process which includes those processes required to track, review, and regulate the progress and performance of the project. The last phase is the closing process which considers those processes performed to finalise all activities to formally close the project. (Project Management Institute, Inc, 2008) Causes of Project Failures In every phase of the project