In order to move forward with globalization, Japanese companies must open up their closed labor market, an undertaking equivalent to a "cultural revolution" to overturn Japan Inc.'s human resource management style, a German scholar specializing in Japan said at a symposium in Tokyo.
Franz Waldenberger, a professor of Japanese Economy at the Japan Center and Munich School of Management at the Ludwig Maximilian University of Munich, delivered a presentation at a symposium on the global human resources strategies of Japanese companies, organized by the Keizai Koho Center on March 7.
"Japanese companies cannot continue to lag behind in globalization any longer," Waldenberger said in the presentation titled "Expansion of global business and human resource management systems; theories and research findings on Japan Inc.'s challenges."