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- Title
Varieties of Capitalism: Production and Market Relations in the USA and Japan.
- Authors
Konzelmann, Suzanne J.
- Abstract
This essay examines the productive function of human resources management (HRM). The starting point for the essay is an analysis of productive systems, the strategic role of HRM within them and the requirements for its effectiveness. In this respect, HRM represents the management of the organization of work, the effectiveness of which is importantly determined by its role in production. HRM and corporate governance are dynamically interrelated in the sense that while HRM serves to structure internal productive system relationships, corporate governance brings together and structures relationships among internal and external stakeholders. The essay next examines the logic of production and the challenges firms face in an environmental context such as that in the U.S., where the logic of markets is prioritized. In Japanese capitalism, by contrast, the logic of production is prioritized and markets serve as the arena in which productive system effectiveness is realized. The case of Ferodyn, a Japanese-U.S. joint venture located in the U.S., is used to illustrate both the competitive advantages derived from the Japanese production-orientated approach and the difficulties associated with operating in the U.S. market-orientated system of corporate governance.
- Subjects
UNITED States; JAPAN; PERSONNEL management; PRODUCTION (Economic theory); MANAGEMENT; CORPORATE governance; STAKEHOLDERS; CAPITALISM; JOINT ventures
- Publication
British Journal of Industrial Relations, 2005, Vol 43, Issue 4, p593
- ISSN
0007-1080
- Publication type
Article
- DOI
10.1111/j.1467-8543.2005.00474.x