briefing a new venture 10

Gifty A Kusi

10thJuly,2016

Over the years, the way in which peopleconduct business has evolved. For example, more businesses operate ina global market. Companies borrow ideas and concepts from alternativeregions(Mitchell, 2008). Internationaltrade and interaction in a new country allows a business or firm toexpand its views and perceptions. Opening a new business venture in anew country has benefits for both the American team and the Japanesehosts (Dent, 2008). The purpose of this paper is to brief colleagueswho will be leading a new venture for a firm in Japan.

Briefing on Japan

Theselected country in question, which will host the new venture, isJapan. Like most countries in eastern Asia, Japan has a rich culturewhich to date serves as a source of influence in leadership, globalinvestment, education, modern technology, imports and exports, andgovernance in the global world (Shinomiya&amp Szepkouski, 2008). Thecountry has a lot to offer in terms of providing new business ideas,financial management, and foreign investment. Japan gets credit forits top-notch technology, advanced business practices, politicalstrength, and leading technology in invention and innovation (Peng,2010).&nbspLikemost countries, Japan has had its triumphs and challenges with regardto the growth of its economy over the years. As such, the countrywill offer experience and information on how to manage a new ventureproduct or service successfully (Peng,2010).&nbsp

New Venture (Product/ Service)

The new venture will be a restaurant, whichmerges Japanese cultural foodwith contemporary delicacies from France, China, Italy, and Spain.The venture will be located at the heart of Japan, Tokyo that hasdemand for traditional cuisines with a modern twist from differentparts of the world (Nishiyama,2000). The name of the businessis The Tokyo Sun.

Location and Size

Japan is an island, which is located in EastAsia in the Pacific Ocean. The country has an area of 145,925m2,making it the 62ndlargest countries in the globe(Nishiyama,2000). The capital city of Japanis Tokyo, which receives wide world recognition for its skyscrapers,contemporary Asian pop culture, technology advancement, and richtraditions (Dent,2008).&nbsp

History

Japan has one of the richest histories in theworld. The country’s civilization traces back to 10,000 BC. At thetime, people lived a simplistic life of hunting, gathering, andfishing (Nishiyama,2000). Most of the historicalmoments are often identified by pottery, art, and religion, which isspecific to a given time. The two early periods in Japanese historyare Jomon period and the Yayoi period, which represent the earliestestablishments. The country has dynasties ruled by some of the mostpowerful emperors in the region (Peng, 2010). It is essential tolearn about the history of Japan in the briefing because it educatesthe business owners, investors, and colleaguesabout Japanese cuisine and the role food plays a significant role inJapans culture. Hence, the restaurant can use the country’s historyto identify foods, cooking methods, and chefswho can appeal to the local andinternational demographic in Tokyo. Most of the restaurantsin Japan still practicetraditions passed on over the generations, making food have a deepermeaning (Shinomiya&amp Szepkouski, 2008).&nbsp

Political System

Thecountry has moved to a more democratic system owing to theintroduction of western cultures and civilization (Nishiyama,2000). The Diet (Parliament) hastwo houses, namely the House of counselors (Sangi-in) and House ofRepresentatives (Shugi-in).Despite the presence of a multi party system, the country maintainsits symbolic Emperor who serves as a source of unity and head ofstate. However, most of the decisions fall on the parliament,cabinet, and the executive, which the Prime Minister (Shinzo Abe)heads (Shinomiya&amp Szepkouski, 2008). Likemost countries in Asia, politics and economics go hand in hand inthat political decisions influence economic strategies. In addition,cultural practices and traditions play a vital role in the overallgrowth of the country (Mitchell,2008). In fact, most of thelegislative laws have a historic background. While the country has amodern approach to business, it still maintains a conservative way oflife. Business owners have to understand the political system of thecountry in order to survive (Peng,2010).

Economic System

Japanseconomic system is essential toboth local and global businesses. Currently, it has the third largesteconomy after the United States and China. The country was once thesecond largest economy (Mitchell,2008). Hence, it plays a vitalrole in determining geopolitical decisions, which influence majorbusiness decisions, sectors/industries, and leading business ideas.Japan takes pride in its love for robotics, technology, andmanufactureof some of the world’ssuccessful brands such as Toyota, Suzuki, and Nissan the automobileindustry (Mitchell,2008). Japan also has recognizedbrand companies like Toshiba which leaders in manufacturinglaptops/televisions, and smart phones. The country is also famous forits popular inventions like Sushi, which dates back to the 8thcentury(Peng, 2010). The restaurantindustry is one of the most competitive industries in the country.Hence, this is a good opportunity for the Tokyo Sun to capitalize onthe competitive restaurant market in Tokyo (Shinomiya&amp Szepkouski, 2008).&nbsp

Language

The national language in Japan is Japanese.Ninety percent of business is done using the Japanese language.However, the rising number of expatriates is responsible for therising number of “English speaking”locals in the country. Thecountry has extensive Chinese and Korean influence. Hence, Mandarinis also dominant in some locations. The local people appreciate wheninvestors take the initiative to learn the language and culture(Shinomiya&amp Szepkouski, 2008).&nbsp

Traditions, Values, Ethics, and Lifestyle

The entire team should understand theimportance of traditions when doing business in a new in new country.While Tokyo is modern, the city still follows a number of traditions,which date from the 8thcentury. Generally, the Japanese believe in providing service toothers, honesty, and hard work (Peng,2010). According to Japaneseculture and ethics, elders, bosses, and business leaders should getmore respect. In business meetings, people in positions of authorityspeak first and lead during business decisions. Titles are veryimportant when addressing a boss or company head, subordinatesshould use titles such as CFO, engineer, detective, and chef. In theoffice place, employees should use sir or madam when addressing theirboss (Mitchell,2008).&nbspThecountry enjoys new experiences owing to their love for new lifestylesand new cultures. The society enjoys latest trends, fashions, popularculture, food, and music. The city is full of exciting ideas due tothe presence of creative businesses, competitive consumer market, andrising spending culture. Hence, businesses need to appeal to thelifestyle of the demographics (Nishiyama,2000).&nbsp

Characteristics of the Culture: How toSucceed in Business in Japan

Most western companies often learn aboutJapanese culture before doing business meeting with people fromJapan. The countries business and social culture change over theyears to accommodate new trends and cultures such as socialnetworking and online chatting. However, most small and largebusinesses place emphasis on business practices, which promote hardwork, creativity, innovation, and supporting social growth(Nishiyama,2000).

According to Hofstede’s concepts ofindividualism and collectivism, individualistic cultures follow adifferent set of rules from collectivist cultures (Mitchell,2008). Japan is a culture thatvalues collectivism as opposed to individualism in the case ofwestern countries. For example, businesses make their decisions andchoices for the wellbeing and growth of the community as opposed tothe benefit of an individual or the business owner. This also appliesto social-cultural and political functions, which should appeal to aspecific community instead of an individual (Dent,2008. In order for the newventure to be a leading venture, it should apply strategies forsuccess, which can ensure that it provides quality products andservices in the restaurant industry. Hofstede’s concept ofindividualism and collectivism explains how companies should operatein different societies (Peng,2010). As such, all employees,staff members, investors, and colleagues should learn about theimportance of adopting creating strategies that promote collectivism.This is vital in attaining repeat customers, attracting localinvestors, and satisfying the Japanese community (Mitchell,2008).&nbspAnotherconcept that will enhance the success of the new venture is thetheory of power distance and uncertaintyvoidance. In terms of powerdistance, Japan has a considerably high tolerance for power distance(Nishiyama,2000).&nbsp

People in a leadership position maintain a lotof power. There is a clear definition of the roles of eachindividual. Uncertainty avoidanceplays a vital role in many ofJapans businesses and organizations. Most company owners, investors,and leaders have low tolerance for uncertainty. Though business isoften unpredictable owing to social and global changes, businessmanagers insist on predicting recommendations through market analysisand research. People are more comfortable making decisions whencertain of their outcomes (Nishiyama,2000).&nbsp

Recommendationson How to Implement Strategies for Success

Apart from having extensive knowledge about thecountry culture, values, and traditions, the company should know howto source resources both locally and internationally. Given that theventure is food oriented, most of the food sources will be from localproducers(Dent, 2008).In addition, thecompany will ensure that 60% of the employees are from the communitygiven that country has a well-educated, skilled, and experienced poolof professionals in the restaurant industry. The business will takeadvantage of the country’s leading role as technology innovators(Peng,2010). Hence, most technology,software, and business concepts will be sourced locally. However, ifthe recommendation would require additional resources, the companywill import them from the United States. After a series of in depthanalysis, the management recognizes that recommendations are workablegiven that both the culture of dining out and food production and theinternal culture of The Tokyo Sun have the same principles(Nishiyama,2000).&nbsp

Therecommendations are workable within the culture because the Japaneseculture encourages change. For example, most employees are capable ofperforming in an international business platform. The company canadjust to any change in the organizational culture. In turn, thecompany is willing to learn new business practices that Japanesenationals are willing to offer.

What to know to be successful in Japan

There are many tips that The Tokyo Sun canincorporate to lead in the country. First, the company needs to placepriority in providing quality products. According to Japaneseculture, providing quality products is a way of extending trust toclients and investors. The Tokyo Sun has to research the marketdemands and needs in terms of quality food production anddistribution (Peng,2010).&nbsp

Secondly, the restaurant managers need to formassociations with people in the community. In the country, mostsuccess comes from the influence of individuals, social groups, andcommunity. Communication is priority in order for a company to besuccessful in Japan. To ensure that communication is successful, thepersons spearheading the new venture should align themselves withprominent people in society, perform corporate socialresponsibilities, and ensure that the business is in line with thatof the overall culture. This will place the venture in a leadingposition in the short and long run (Mitchell,2008).

Conclusion

The new venture is essential to the overallgrowth and development of the company brand in Japan and to theinvesting country. Japan is one of the most influential countries inthe globe in all aspects of life (Dent,2008).&nbspAllpeople who take on a leading position in Japan will have tounderstand its social-cultural, economic, political, andenvironmental factors and their influence business success. The TokyoSun intends to serve as a leading brand in Japans competitiverestaurant industry. All persons should understand the fundamentalsof restaurant management in Japan.

References

Dent, C. M.(2008).&nbspChina,Japan and regional leadership in East Asia.Cheltenham, UK: Edward Elgar.

Mitchell, C.(2008).&nbspAshort course in international business culture: Building yourinternational business through cultural awareness.Petaluma, CA: World Trade Press.

Nishiyama, K.(2000).&nbspDoingbusiness with Japan: Successful strategies for interculturalcommunication.Honolulu: University of Hawai`i Press.

Peng, M. W.(2010).&nbspGlobalbusiness.Mason, OH: Cengage South Western.Mason, OH : Cengage South Western

Shinomiya,S., &amp Szepkouski, B. (2008).&nbspBusinesspassport to Japan.Berkeley, Calif: Stone Bridge Press.