Organizations are the core element of modern societies and economies. Crisis and prosperity of the latter are always closely related to the (mal-)functioning of the first. For a deep understanding of both sides, it is essential to ask, why individual subjects with different interests work together, knowing what is demanded or expected from them and what to do, without being explicitly ordered to do so or without having negotiated it. Since the early 1990s, Japan and its corporate organizations have been struggling with deflationary repercussions from the bursting of bubble economy or implosion of formerly inflated asset market prices. And since the late 1990s, mergers & acquisition activities have been increasing as the preferred option to grow also in Japan, involving not only inside-out, but also outside-in and inside-in cases. In this context, organizational or corporate culture raised considerable attention as one of the key factors for sustainable success. Japanese companies, facing fundamental challenges towards their traditional value set and mode of integration by US dominated globalization and organizational restructuring are increasingly realizing the need for reconfirming or redefining their hidden rules and values. Against this background and after an introduction into the nature of the current economic situation in Japan, this course gives in its first part an overview about different core terms and models of corporate culture, discusses the relation of culture and change and raises current challenges, particularly Japanese corporations are facing with regard to their internal integration. In the second part of this course, students are provided with the opportunity to practicise their theoretical knowledge by choosing a case of cross border merger & acquisition with a Japanese corporation involved and analysing this case.
This course is a combination of an lectural input about the broader context of the current economy and business in Japan and a team work type case study. The lectural input will be given in English, while additional remarks and explanations can be provided also in Japanese on request. Students are invited to discuss the views provided, to present their own ideas actively and to conduct a case study about cross border merger & acquisition with a Japanese corporation involved.
1st Part: Theoretical & Empirical Input (Sessions No.1-4)
A Model, Again? Long-Term Trends in Japans Economy
Why has the Idea of ”Corporate Culture” occurred?
Irony of Change: Challenges for Japan & Japanese Corporations
Overview Material for Analyzing a Cross Border M&A Case
2nd Part: Conducting a case study (Sessions 5-15)
Choosing of a M&A Case & Formulating a Hypothesis: Is the case in question a success or failure? What defines success and failure? Success and failure for whom?
Analyzing of Business Model before/after M&A: Has the way value is generated changed? Where can the premium earned back? Where are zones of synergies and conflicts?
Analyzing Financial Performance (ROE Breakdown): How has the financial performance changed? What were/are the drivers?
Analyzing of Stakeholders Gain & Loss before/after M&A: Who (which stakeholder) has gained or lost? Which impact do these gaines/losses have? Is it sustainable and socially acceptable?
Synthesizing a Thesis (Conclusions, Remaining Tasks): Is the case in question a success or failure? What defines success and failure? Success and failure for whom?
Testi di riferimento
First, concentrate just on the inputs, given in the lectures & input modules. Secondly, there is no one & single textbook required. Supplemental readings (references) are indicated in the lecture materials. If technically possible, the electronic version of the lecture materials will be uploaded and students are expected to download the respective materials in advance (there will be no other handouts or hard copies provided by the teaching side). These materials are mainly PDF slides in English.
Modalità di esame
You are expected to take part into a team work, to conduct a case study of cross border M&A with a Japanese corporation involved and to deliver interim and final group presentations. Because the case study will be conducted as team work/effort and its result will be delivered as team presentation, your active and continuing participation into the classes (sessions), related team work and preparational activities is required. Team performance, your contribution to it and sensitivity towards the given situation and social context & consistency in argumentation, originality in core propositions and creativity in expression (not the precision in recycling the common sense or mainstream thinking) will be evaluated. Be aware that the case study, active participation in team work and delivering of team presentations is the only way to receive credits.
Combining lectural input (frontal) with free discussions, task explaining modules (frontal) and students presentation (team work)
Lingua di insegnamento