By Usha C. V. Haley, Frank-Jürgen Richter
A decade in the past, a author from Fortune journal wrote within the preface to Kim Woo Chong's publication, each road is Paved with Gold, that Kim, the Daewoo empire's founder, "personifies the force and mind's eye that makes East Asia a dynamic middle of financial growth." Kim fled South Korea in overdue 1999, presently after his empire crashed. From his preliminary exile submit in Frankfurt, he submitted his resignation from the entire Daewoo group's businesses. He has left no clue approximately his whereabouts because then.Kim Woo Chong's meteoric upward thrust as considered one of Asia's strongest tycoons, and his both unbelievable fall, characterize the Asian miracle and the lengthy trouble that threatended to break it in 1997 and that also hangs over the commercial panorama. The system's flaws turned obvious in mid-1999, while Kim said that his businesses, which had got a world achieve in a debt-fueled enlargement binge, couldn't pay their collectors. by the point the banks that took over the Daewoo team had calculated $80 billion in liabilities, Kim was once altering addresses in Europe. For Asia, classes from the situation point out that conventional tools of operation via debt financing and over-investing will fail. This lesson and others are explored in Asian Post-Crisis Management.Contributers: Usha C.V. Haley • Masaaki Kotabe & Shruti Gupta • Yasuhiro Arikawa & Hideaki Miyajima • George T. Haley • Brij N. Kumar, Yunshi Mao & Susanne Birgit Ensslinger • Nancy E. Landrum & David M. Boje • Xue Li, John Kidd, & Frank-J?rgen Richter • Malcolm Cooper • Yi Feng & Baizhu Chen • Howard V. Perlmutter • Sek Hong Ng & Malcolm Warner • Thomas Clarke • Keun Lee • Caroline Benton & Yoshiya Teramoto • Fred Robins • Michael A. Santoro & Chang-su Kim • Beverly Kitching • Hock-Beng Cheah & Melanie Cheah
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Additional resources for Asian Post-Crisis Management: Corporate and Governmental Strategies for Sustainable Competitive Advantage
The authors studied the tariff rates for 95 industries in China in 1996. They collected the potential determinants of tariff rates from an array of variables characterizing industries in 1995 and used a principal component method to reduce these variables into four major dimensions. The first component comprises the information on the composition of employees broken down by age, education and job classification. The second component emphasizes Post-crisis Management Strategies in Asia 11 the profitability of the industry.
Even if companies were not practicing just-in-time inventory management, it would make a lot of sense to keep inventory low. Essentially, inventory is a tied-up capital of unsold merchandise that can be costly to the company. For example, the Kuala Lumpur store of Swedish furniture retailer, Ikea, has not restocked certain slow-selling items. Look outside the region for expansion opportunities Asia’s recession is still a regional problem although there is some risk that it will bring down the rest of the world with it to cause a global economic crisis.
Similarly, among Western companies, quite a few US companies are reporting less than expected earnings because of their large investments in Asia. Others fear that the Asian crisis would wash ashore to the seemingly unrelated regions of the world, including the USA and Europe. For example, the unsettling ups and downs of the Dow Jones Industrial Average reflect the precarious nature of US investments in Asia. Economists blamed Asia for nipping the world’s economic growth by one percentage point in 1998–99.