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The Japanese steel industry has experienced both boom and recession over the past 30 years and is now in real decline. This study analyzes the economic, technical and political changes paying particular attention to the impact of modern technology upon employees within the industry. It introduces an important conceptual tool for comparative study: convergence. Challenging the simplistic notion of leader and follower industries, the text utilises this concept to investigate whether the steel industry, and by extension other manufacturing industries, can survive in mature economies.

In this study the views of Japan's leading experts on the globalization of Japanese business, management and industrial relations explain how traditional Japanese-style management is responding to the changes following the collapse of the bubble economy. The areas covered include the changes made in management itself inside Japan and also how it is adapting itself when transferred overseas. The book demonstrates how management is moving towards a hybrid type in overseas operations and towards a western-style in Japan, where contractual principles are beginning to be given greater weight.