Synopsis:

While Japanese-style and Korean-style management have received considerable research attention, they have been rarely discussed in a comparative manner. A systematic review of managerial practices of Japanese and Korean firms reveals that while they are similar as regards corporate objectives, corporate governance and human resource management, they strongly diverge in strategic orientation, and operating and leadership styles. Japanese-style and Korean-style managerial features result in various strengths and weaknesses of firms from the two countries. As regards future perspectives, Korean firms appear to be in a better position to embrace rapid technological change and effectively conduct business in emerging markets, which are gaining in importance. Furthermore, progressing global economic integration implies that both Japanese and Korean firms need to overcome ethnocentrism and accept more diversity in their organizations to sustain global competitiveness.