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BUSINESS NEWS: Asian-style management under fire |
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Abstract (Document Summary) |
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TOKYO: Asian-style corporate management should be ditched, a Taiwanese company said in the presence of once-revered Japanese and South Korean business leaders. "The so-called Asian-style of corporate management has to change fundamentally," said [Morris] Chang, speaking before leading representatives of the Japan-South Korean management model - NEC Corp chairman Tadahiro Sekimoto and Daewoo Group chief Kim Woo-Choong. |
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Full Text (198 words) |
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Copyright Asia Intelligence Wire from FT Information Jul 1, 1998 TOKYO: Asian-style corporate management should be ditched, a Taiwanese company said in the presence of once-revered Japanese and South Korean business leaders. Mr Morris Chang, president of the Taiwan Semiconductor Manufacturing Co Ltd, made his remarks during a debate at the fourth conference on 'The Future of Asia'. "The so-called Asian-style of corporate management has to change fundamentally," said Chang, speaking before leading representatives of the Japan-South Korean management model - NEC Corp chairman Tadahiro Sekimoto and Daewoo Group chief Kim Woo-Choong. TMSC, created by Chang in 1987, is seen by many analysts as an example of the new-style Asian corporation. It has a single focus, making semiconductors, and a return on capital of more than 30 per cent. The management style is American, with the accent on initiative, individual responsibility and transparency, somewhat different from the group culture of major Japanese and South Korean firms. "TMSC does not follow the so-called Asian-style corporate management," said Chang. "Competition is global in nature and to survive requires a company to apply global standards," he said. "It is time to take stock of the whole concept of Asian management style. The world cannot wait for us to change very slowly." |
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