McKinsey report: Japanese vendors lag behind foreign counterparts in China
McKinsey's study finds that Japanese companies are lagging behind European and American counterparts in conquring China markets due to their archaic management style and inability to hire and retain best talent. Examples include failure to reward and promote local staff and using Japanese as their official language in China office. As the result, Japanese products are not enough localized to meet Chinese consumers' tastes. As for the Japanese handset vendors, only Sharp was identified as one out of 24 leading foreign players across 12 consumer-oriented markets in China. Overall, Japanese mobile phones take about 3% of market share in China. Besides Sharp, Toyota, Suntory and Shiseido were mentioned in the report. In the white goods market, Japanese companies have just a 6 per cent market share, the report states. I totally agree with McKinsey as it seems the word globalization was lost in translation in Japan.
Source: FT
Labels: Sharp










