U.S.-India-Japan Business Development Alliance (USINJA) in the ‘New Asian Era’: Impact of Social and Cultural Resources on Business Development
Wednesday, March 20, 2013 10:00am-4:00pm
Admission is possible at any time throughout the event; so please feel free to come and go at your convenience.
- Welcome Address: Yoshiaki Abe
- Opening Remarks: Kiyoshi Kobayashi
- Transparency and corruption in India: Implications for FDI from USA and Japan: Lata Chatterjee
- Emerging Knowledge Economies: The Role of Social, Relational, and Institutional Capital in the Creation of Cooperative Regional Learning Processes: T.R. Lakshmanan
- Restructuring Japanese Business Models in Global Arena: Kiyoshi Kobayashi
- Lunch Break
- Limitations of the Capitalist Imperative: Raymond Dezzani
- Legitimacy Perspective in Business Development: Gautam Ray
- Tea/Coffee Break
- On wall Street Values: Ronald J. Strauss
- Brainstorming Session
Admission is free, but seating for this event is limited.
Social, cultural and political resources are known to impact the growth of human and economic development opportunities in countries and regions which in turn impact development of business opportunities not only within such countries but across the globe. Examples of such resources include social capital of trust, human and knowledge networks, rule of law, equal opportunities for the access to the common pool of knowledge resources through education, democratic institutions such as independent Judiciary, free press and platforms for collective action including civil societies fighting for human rights, protection of environmental and natural resources, and improved governance.
The United States of America have developed throughout the last century its rich social and political resources such as democratic values of individual freedom, diverse and multicultural society attained through its immigration policy and the policy of promoting upward social mobility through merit based reward system uniformly applicable to all people irrespective of their nationalities and social or economic status. Its universities and research institutions have attracted human capital resources from all over the world and integrated them into its vibrant capitalist economy. These human and social resources have fuelled innovation and creativity that have been augmenting the productivity of its knowledge economy in an unprecedented scale.
Japan, on the other hand, showed how rapid economic growth can come along with a phenomenal rise of its middle class and eradication of poverty as it created a highly productive industrial economy and obliterated its hierarchical social structure. Japanese manufacturing enterprises trusted its working class population’s ability to sustain the growth engine and shared with them the fruits of growth through a wage structure and performance bonus system that made Japan one of the most equitable societies in the world. Social capital of trust, loyalty and team-work helped the growth Japanese enterprises.
Despite their social and economic infrastructural resources, business development opportunities in both these two developed economies have been steadily shrinking in recent years. While Japan has been facing economic stagnation since the bust of its bubble economy in the early 1990s, US economy’s growth bubble artificially propped up by the supply of excess credit seems to have busted irretrievably since the onset of the financial crisis in 2008. India with its large domestic market and huge growth potential can provide the requisite synergy and complementarities that can unleash a new momentum in the growth of business opportunities of US and Japanese enterprises.
India’s democratic institutions- free press, independent judiciary, election commission, and vibrant civil society- have enabled growth of its domestic market fuelled by the steady growth of its educated middle and lower middle class population. With its vast human capital resources, low median age of 25 years, very low dependency ratio of 7.5%, Indian market presents a golden opportunity of strategic business development opportunities for capital and technology rich economies such as Japan and United States . India has also been facing the problem of an unprecedented surge in the supply of educated workforce in coming years.
This research shall seek to explore how the three large democracies can use their respective social, cultural, political and economic resources to form productive business alliances that can create win-win-win outcomes for all. It shall aim to identify the legitimate foundations of such business alliances and explore how to develop sustainable business ventures that address the needs of their vulnerable populations.
Moderator & Presentation
- Yoshiaki Abe
Operating Advisor, USJI / University Professor, Waseda University
Opening Remarks & Presentation
- Raymond J. Dezzani
Associate Professor, University of Idaho
U.S.-Japan Research Institute (USJI), S&R Foudation