The Japanese companies have managed to become the finest global players in the field of electronics and the automotive industries, that entered a golden age in the Second Industrial Revolution that was driven by oil as well as electricity, because the employment practices that were Japanese-styled along with the close-knit ties between the manufacturers of product and the suppliers of affiliated parts worked effectively for the production of high quality as well as low-cost products.
In the Fourth Industrial Revolution’s take-off phase, both the Japanese businesses and their universities were not being able to become the vanguard of innovation in technology. Systems as well as the customs that were peculiar to the Japanese-style organizations, like employment practices, were working to their disadvantage. In addition to that, concern still lingers that the practices and systems that are unique to the Japanese organizations might stand in the way of having a smooth introduction of the Fourth Industrial Revolution in Japan, as the benefits of introducing Artificial Intelligence (primarily in the saved manpower expenses) can be discounted because of the system of employment in Japan.
For resuscitating the Japanese economy in the Fourth Industrial Revolution, the priority should be given to a radical review of the Japanese-style practices and systems. For trying to revive the national universities, the ministry of education has turned them into independent agencies. Furthermore, they have tried to introduce a mechanism of market in their management. However, their established practices still remained unchanged and possibly the same could be said regarding business management.