After World War II, many of the Japanese techniques were credited for helping their economy become the world’s second largest after the U.S. Let us peep into a few of their best practices.
Theory Z
This theory popularised by Dr. William Ouchi focuses on increasing employee loyalty to the company by providing a job for life and emphasized on the well-being of the employee, both on and off the job. It promotes stable employment, high productivity, high employee morale and satisfaction.
Ringi system
This system of decision making involves circulating proposals to all managers who are affected by an impending decision. Proposals are initiated by middle managers or top executives. Managers from different departments after discussion try to reach an informal consensus. Then the formal document, ringi-sho will be circulated for approval.
This system requires long lead times and thus cannot be used in a....
