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The purpose of this paper is to explore the relationship between boards and board activity and subsequent business performance, in the context of high-growth companies, through the lens of decision making and business performance.

A critical realist approach was used to conduct a longitudinal multiple-case study of two medium-sized, quasi-public high-growth companies. Data collection included first-hand observations of boards in session, semi-structured interviews with key actors and the inspection of board and company documentation. An iterative approach to analysis was used to gain an in-depth understanding of how the boards worked and how they sought to exert influence.

The paper provides empirical insight about board involvement in strategic management. A proactive involvement by boards in the strategy development process and assessment of strategic options, and a collaborative form of board involvement in strategic management together with management is indicated as being important if the board is to exert influence beyond the boardroom. A conceptual model of a collaborative form of board-management interaction is developed.

The paper provides guidance for boards, suggesting that a more direct level of involvement in strategic management by the board together with management may be material to improved business performance.

The paper responds to calls for more research on the relationship between boards and business performance. It contributes much-needed first-hand evidence from within the boardroom.

As employees in the lower ranks of a Japanese company advance through the levels of management and seniority their role in day-to-day kaizen activities shifts from that of directly improving their own job, operations and surroundings to guiding, educating and facilitating understanding and practice. The emphasis of kaizen to the employee during career progression changes in an embedded, sequential and predictable manner. To a new employee, kaizen is a process to be implemented, something that is visible and largely provided through company training and job manuals, while not necessarily being fully understood. To the senior manager, however, one who has advanced up the corporate ladder, kaizen is tacit knowledge and accumulated experiences, and is seen as being more than just reducing costs, increasing productivity and decreasing lead times. At this point, kaizen becomes something invisible, something that can produce real influence on both the company’s profitability and the manager’s reputation. Consequently, what kaizen is actually changes from being a duty associated with employment to a matter of personal, group, collective, and organizational responsibility. The purpose of this paper is to explore the mechanism underpinning the transfer of kaizen (acknowledgement and exercise) in the Japanese workplace that results in it being sustained across multiple.

Data were collected from research participants (n = 53) through a mixed-method multi-language field design comprising questionnaires and unstructured interviews conducted in genba, the workplaces of five domain-name multinational companies in Japan. Multi-level statistical analysis identified two largely mutually exclusive generational groups.

During their late 40s, employees were found to transfer their understanding of kaizen between the two forms. At this age, employees were identified to shift from being student to teacher; follower to leader; and disciple to sensei. This study identified how kaizen shifts from one generation to another; when kaizen shifts through the change in responsibility of employees; and changes in the understanding and practice that creates sustained business excellence.

Importantly, the study reveals how kaizen itself is a sustainable business activity in the workplace, one that Western business is struggling to emulate.

For the past three decades, the dominant economic policy environment across the Anglosphere has assumed that industrial performance results from increasing national competitiveness. The US Government and others have extensively used the tools of deregulation that emerged from the influential frameworks of Michael Porter and the Chicago School. That both the contributing analysis and attendant policy environment largely neglected the very source of national disadvantage, mostly Japanese industry in the 1970s and 1980s, remains surprising. What was going on in Japan at the time, and to some extent continues today, remains largely hidden. The aim of this paper is to expose one source of Japan’s influential competitive advantage – the human resource.

This paper, through the translation of a Japanese-language paper by Professor Emeritus Masaki Saruta, introduces the Japanese phenomenon of managed education in Aichi Prefecture, home of the Toyota Motor Corporation, and provides insight into the lifestyles of the Japanese workers who live and work in corporate castle towns that feed Toyota. Inductive content analysis was used to identify four themes that can be identified as the strategies used to produce a homogenous pool of labor that sustains the Toyota Way philosophy and Toyota Production System.

The content analysis identified four major themes: Toyota’s abnormal level of influence over local government, a unique education system of education management, a closed labor market and the homogeneity of labor. It is only now that business leaders in the Anglosphere are able to comprehend the vastness and depth of inculcation and nurturing policies of Toyota and other Japanese industrial giants – something business leaders in the Anglosphere today can only dream. It now becomes evident that Chandler’s visible hand remains alive and well, but critical drivers of its success in Japan and Toyota were largely invisible to the West.

The research required the knowledge of one of Saruta’s works that is only published in Japanese, and therefore, inaccessible to researchers in the Anglosphere. The translation process and development of themes is reported in detail. The findings are then located in the broad context of national competitive advantage.

With the insight presented in this paper, business and government leaders may now be empowered to implement policies and practices to nurture a pool of labor more conducive with the organizational strategic policy. While leaders in the Anglosphere are able to implement policy, there also remains a new threat to economic sovereignty – the nurturing of human resources in the dormitories, refectories and shopping malls of industrial China.

The development of a company-focused workforce to support corporate castle towns, one of the sources of national advantage, has been identified in this paper. The social implications are twofold. First, in Japan, the nature and influence of these towns are accepted and heralded by the community. Second, outside of Japan, and especially across the Anglosphere, these towns are a major source of competitive advantage.

Through the translation of original research published in the Japanese-language medium, this research provides otherwise inaccessible insight into the inner workings and effectively the “black box” of what was Japan Inc. in an era when business people in the West were playing catchup. As the debate on globalization extends to sovereignty across the Anglosphere, it is beholden on the academic community to provide effective solutions for industrial competitiveness.

Research studies on offshoring and reshoring have predominantly focused on the home company, widely ignoring the offshored company in the host country. The host company's influence and contribution have been unseen. This research explores how the host company responds to the home company's location decisions to maintain the dyadic relationship.

An exploratory case study in China was conducted to examine the host company's response to reshoring. The case company has two Japanese parent companies that acted for the emergence of reshoring drivers. Primary and secondary data were collected and analysed through thematic analysis. The host company's response strategies to the home company's relocation decisions were identified and explored.

The findings reveal that four strategies, identified here as being cost control, market expansion, knowledge seeking and relationship bonding, were implemented by the host company. The importance of Industry 4.0 (I4.0) and knowledge transfer is also emphasised within these strategies.

This research identified active and practical strategies conducted by the host company to maintain a cooperative relationship with the home company(ies). Instead of encountering a passive response from the host company, the home company may consider working with the host to overcome difficulties caused by emerging reshoring drivers and create an outcome beneficial to both.

To the authors’ knowledge, this is the first research to study manufacturing reshoring from the perspective of the host company. It provides a new perspective to understanding this phenomenon.

William Blackwood, the founder of the firm of the name, saw service in Edinburgh, Glasgow, and London before opening in 1804 as a bookseller at 64 South Bridge, Edinburgh. Blackwood continued in his bookselling capacity for a number of years, and his shop became a haunt of the literati, rivalling Constable's in reputation and in popularity. His first success as a publisher was in 1811, when he brought out Kerr's Voyages, an ambitious item, and followed shortly after by The Life of Knox by McCrie. About this time he became agent in Edinburgh for John Murray, and the two firms did some useful collaborating. Blackwood was responsible for suggesting alterations in The Black Dwarf, which drew from Scott that vigorous letter addressed to James Ballantyne which reads: “Dear James,—I have received Blackwood's impudent letter. G ‐ d ‐ his soul, tell him and his coadjutor that I belong to the Black Hussars of Literature, who neither give nor receive criticism. I'll be cursed but this is the most impudent proposal that was ever made”. Regarding this story Messrs. Blackwood say: “This gives a slightly wrong impression. Scott was still incognito. William Blackwood was within his rights. He was always most loyal to Scott.” There has been some controversy as to the exact style of this letter, and it has been alleged that Lockhart did not print it in the same terms as Sir Walter wrote it. Blackwood came into the limelight as a publisher when he started the Edinburgh Monthly Magazine in 1817, which was to be a sort of Tory counterblast to the Whiggish Edinburgh Review. He appointed as editors James Cleghorn and Thomas Pringle, who later said that they realised very soon that Blackwood was much too overbearing a man to serve in harness, and after a time they retired to edit Constable's Scots Magazine, which came out under the new name of The Edinburgh Magazine and Literary Miscellany. [Messrs. Blackwood report as follows: “No. They were sacked—for incompetence and general dulness. (See the Chaldee Manuscript.) They were in office for six months only.”] Blackwood changed the name of The Edinburgh Magazine to Blackwood's Edinburgh Magazine, and became his own editor, with able henchmen in John Wilson, Christopher North, John Gibson Lockhart, and James Hogg as contributors. It was a swashbuckling magazine, sometimes foul in attack, as when it told John Keats to get “back to the shop, back to plaster, pills, and ointment boxes”. Lockhart had a vigour of invective such as was quite in keeping with the age of Leigh Hunt, an age of hard‐hitting. The history of Blackwood in those days is largely the history of the magazine, though Blackwood was at the same time doing useful publishing work. He lost the Murray connexion, however, owing to the scandalous nature of some of the contributions published in Maga; these but expressed the spirit of the times. John Murray was scared of Blackwood's Scottish independence! Among the book publications of Blackwood at the period we find Schlegel's History of Literature, and his firm, as we know, became publisher for John Galt, George Eliot, D. M. Moir, Lockhart, Aytoun, Christopher North, Pollok, Hogg, De Quincey, Michael Scott, Alison, Bulwer Lytton, Andrew Lang, Charles Lever, Saintsbury, Charles Whibley, John Buchan, Joseph Conrad, Neil Munro—a distinguished gallery. In 1942 the firm presented to the National Library of Scotland all the letters that had been addressed to the firm from its foundation from 1804 to the end of 1900, and these have now been indexed and arranged, and have been on display at the National Library where they have served to indicate the considerable service the firm has given to authorship. The collection is valuable and wide‐ranging.

The purpose of this paper is to examine the basis of the complaints against banks which sold private label securities to Fannie Mae and Freddie Mac before the financial crisis. The examination shows that all but one of the cases was settled out of court. Nomura and RBS went to court, but the case against them was based on dubious evidence and on strict liability which only enabled the judge to set aside relevant evidence. The Securities and Exchange Commission’s evidence against senior executives of Fannie and Freddie shows that they deliberately purchased PLSs based on subprime loans to meet the government’s housing targets.

The research was based on publicly available documents, including details of the Federal Housing Finance Agency’s (FHFA) complaints against the banks in question, the settlement agreements published by the DoJ, FHFA and SEC. Furthermore, it includes documentary evidence from the Financial Crisis Inquiry Committee and Senate Committees, the full transcript of the trial, opinions of the judge for the trial and the judgement.

The findings are that many have concluded that settlements out of court fail to satisfy the demand for justice. They have been criticised as a trade-off between the prosecutor and the bank, with a view that the imposition of large fines is to pay back taxpayers’ money spent on rescuing the banks, rather than punishing those responsible. Such fines do little, if anything, to change the behaviour of banks. As a result, the Department of Justice issued a memorandum on 9 September to focus on individual accountability for corporate wrongdoing. It remains to be seen how many cases against senior executives will result from the change in direction.

The implications of the research are that it is important even in the aftermath of such a serious if not devastating financial crisis to ensure that the laws are properly applied and can stand up to any challenge that it has been stretched to obtain the results the administration of the day wants to see. In addition, care must be taken over both the imposition of large fines and the use to which the monies should be put. All the parties involved in bringing about the crisis should be held to account. The major cases against the banks have almost all been “resolved”. A change in direction has now taken place.

The practical implications of holding individuals to account should now be tackled. It requires a careful examination of the laws and regulations already in place to ensure that it is clear within a bank as to who is responsible for what. It will only be possible to hold senior individuals to account if the laws are clear and if all the evidence is not hidden. It may also require a review of the contracts under which senior executives are employed, because to remove a person from his post and then find that he still has a large pension pot and bonuses due may not result in justice either. A delicate balancing act is required because banks require highly competent and motivated individuals to run them.

If a very large fine is imposed on a bank, the shareholders and customers pay. The shareholders will mostly own the shares through their pensions and their savings in mutual funds.

There have been few studies of all the cases against the banks brought by the DoJ and FHFA and still fewer have recognized the fact that government housing policy was the source of the extent of the subprime mortgages.

The purpose of this paper is to develop a definitive and insightful working definition of kaizen for practitioners and academics in the West through which they may better understand the kaizen phenomenon and its intangible but critical underpinning philosophy.

A phenomenological study of the utility of kaizen within in the bounds of active kaizen environments in name Japanese industrial organisations was conducted over a three-year period in Japan. The research explored how Japanese workers acknowledge, exercise, identify and diffuse kaizen in a sustainable manner.

Kaizen is found to be a broad philosophical approach to work that serves different purposes for different members of the organisation, where no universal definition appears to exist yet differing ideologies are tolerated. Kaizen in Japan has a considerably deep meaning: it channels worker creativity and expressions of individuality into bounded environments, and creates an energy that drives a shared state of mind among employees to achieve proactive changes and innovation in the workplace.

This paper competently bridges the Japanese-Anglosphere cultural divide in social and business contexts. It contributes to the development of practitioner understanding of the utility of kaizen in Japan through unhindered cross-cultural research methodology, enabled by researcher competency and fluency in Japanese language and culture.

For decades the majority of contributions to governance practice have been compliance-focused while much governance research has been grounded in an agency view (Daily, Dalton & Rajagopalan, (2003), Academy of Management Journal, 46(2), 151–158). Much of that effort has failed to observe the key drivers of boardroom decision making. The objective of this research was to explore the shareholder–stakeholder tension within an organisation as it progressed through sequential forms of ownership. The results presented in this paper are primarily drawn from the immediate ex poste and ex ante events surrounding the collapse of Ansett Holdings Ltd and the latter government bailout of Air New Zealand. New Zealand's national airline provided a relevatory case (Yin, (1989), Case study research: Design and methods (Rev.ed.). Newbury Park, CA: Sage), the opportunity to study a phenomenon previously inaccessible to research, because data hitherto unavailable ‘entered’ the public domain. However, when reinterpreted in light of direct input from key executives involved – benevolent informants – much of that data needs to be reconsidered to better understand why critical decisions were made. The Ansett collapse subsequently became the single largest corporate collapse in Australian history while the loss to Air New Zealand became New Zealand's largest-ever corporate loss. The decision by Brierley Investments Limited (BIL) to ‘block’ Singapore Airline's (SIA) entry into the Australian market, implemented through the high risk acquisition of the balance of Ansett, directly resulted in both ‘collapses’. Decisions by the organisation's governance were found to have a direct impact on the performance of Air New Zealand through various phases of its ownership. While the ‘collapses’ are attributed to a failure of governance to act in the organisation's (stakeholders) interests. Growing tensions between shareholders and stakeholders were observed to be suppressed as the BIL dominated and led Board achieve complete control over decision making. There remains considerable opportunity to further governance research through the examination of business ethics, notably the view that appropriate ethics can be met by way of legislation (e.g. Diplock, (2003, April), Corporate governance issues. Securities Commission of New Zealand. Available from: http://www.sec-com.govt.nz/speeches/jds240403.shtml). However, the role of governance, particularly whom it is there to serve requires far greater attention on behalf of researchers. In the cases of Ansett and Air New Zealand the Board ceased to act in best interests of the organisation in favour of the major shareholder.

GLASGOW was later by about one hundred and thirty years than some of the Scotch towns in establishing a printing press. Three hundred years ago, though Glasgow contained a University with men of great literary activity, including amongst others Zachary Boyd, there does not appear to have been sufficient printing work to induce anyone to establish a printing press. St. Andrews and Aberdeen were both notable for the books they produced, before Glasgow even attempted any printing.