Twentieth century models for the twenty‐first century: models of fast growing firms and industries in the twentieth century for fast growing firms and industries in the twenty‐first century

Abstract

Purpose

This paper aims to present a general review of the circumstances of America and Japan's rapid corporate, economic and industrial development in the twentieth century.

Design/methodology/approach

The approach considered and evaluated how the circumstances of America and Japan's growth might apply to China and India, two of the fastest growing economies of the twenty‐first century.

Findings

The findings suggest that both America and Japan might be considered exceptional cases and, as such, neither one might be regarded as a good model for emulation. However, the circumstances of Japan's rapid growth appear closer to those of contemporary China and India and on that basis the authors suggest that Japan might be a better model for emulation.

Originality/value

The American model is too novel and unlikely to be imitated, replicated or repeated whereas Japan's high population density, agrarian origins, state assisted and administered development, adaptation and hybridization of local and imported methods and technologies, kinship, pseudo‐kinship and locality based business groupings, and rapid, come‐from‐behind charge toward industrialization, urbanization and international emergence, all suggest that Japan offers a more relevant and useful development model.

Citation

Fruin, W.M. and Nakamura, M. (2012), "Twentieth century models for the twenty‐first century: models of fast growing firms and industries in the twentieth century for fast growing firms and industries in the twenty‐first century", Journal of Asia Business Studies, Vol. 6 No. 2, pp. 160-175. https://doi.org/10.1108/15587891211254380