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Over the decade the trend of Global Fortune 500 firms has shown significant changes – Japanese and Chinese firms in particular. The purpose of this paper is to present trend analysis of Global Fortune 500 – Japanese and Chinese firms. Key research questions are: what are the relevant macro-level changes that have affected the growth and decline of Japanese and Chinese firms? What are the industry-level changes that have occurred in Japanese and Chinese firms in terms of firm characteristics and financial performances? What are the lessons and implications from the firms added to or removed from Global Fortune 500? Data analysis is conducted based on Fortune database from 1995 to 2013.

The study employs descriptive analysis to examine the trend of Japanese and Chinese firms listed in Global Fortune 500 including: based on revenue and profit figures from 1995 to 2013; the authors perform trend analysis for each of those five types from 1995 to 2013; the authors replicate the analyses for different industry types in terms of the above five types; the authors compare the performances of Japanese and Chinese firms; based on 2011-2013 data, the authors conduct more in-depth analysis for selected firms.

The findings suggest five distinct types of firms including “Sustainables,” “New Comers,” “Move Ups,” “Decliners,” and “Drop Outs”; it is interesting to note that the changes in Global Fortune 500 firms suggest how these two countries show their relative competitive advantage. Chinese firms show steady flows of new firms that join in the rank of Global Fortune 500 whereas Japanese firms suggest continuous drop of firms that move out of Global Fortune 500 firms. As China increases its size of economy, state-owned financial institutions, resource-focus firms (e.g. mining and petroleum) firms also rapidly increased its overall size. Although the number is still small, privately owned Chinese global firms (e.g. Lenovo, Huawei, Zhejiang Geely Holding Group, Ping An Insurance) also are now listed as Global Fortune 500 firms. In contrast, Japanese firms that lost their global market positions steadily disappeared from Global Fortune 500 firms. Representative firms include Daiei, Mitsubishi Motor Company, and NEC.

One limitation of the analysis on financial indicators is that the authors select only a few firms and focus only on two time points. Nevertheless, it provides the authors information about the financial factors that characterize the two types of Global Fortune 500 firms. Moreover, it opens up new opportunities for future research.

Factors that influence the behaviors of Global Fortune 500 firms suggest both external environmental and internal managerial factors. Although serious external factors (e.g. Global Financial Crisis) affect the outcomes of these competitive positioning, it is still the managerial leadership that makes differences in cases of many Japanese firms. To Japanese firms maintaining domestic advantage is not enough to sustain their position in Global Fortune 500. Global competitiveness matters. On the other hand, it is unclear whether changes occurring in Chinese firms are more managerial than externally dictated. In case of many Chinese financial firms and resource rich firms, the huge domestic advantage has much to do with their position in Global Fortune 500.

This is the first trend analysis that examines the Global Fortune 500 firms from Japan and China. The authors identify five types of firms that would be an important basis for the further benchmarking studies of Global Fortune 500 firms in other counties (e.g. the USA, Germany, Korea, and other Emerging Economies – Russia, India, Brazil).

Cross-functional teams engage in developing platform projects which become the basis of many smaller projects. The purpose of this paper is to examine how project teams engage in front-end plan formulation and backend work implementation. This paper shows the critical linkage role of platform product practices.

This study examines the conceptual framework and research model by using a survey questionnaire for the target respondents of product development managers from the USA and Korea. After refining processes, this study determines the items for each variable for the large-scale survey.

Results suggest that when heavy-manager and customers are jointly or separately involved with a project team for the formation of shared team purpose and mission, then there would be differences in terms of information quality, shared team purpose and mission and the project outcomes. If the primary roles of heavyweight leadership and customer involvement are to improve information quality in terms of reduction of uncertainty and equivocality, then the project team is empowered enough to work on the formation of shared team purpose and mission on their own. Platform product practices are a linkage between front-end planning and back-end work doing which guides more specific projects with shared purpose and performance goals.

As the data collection was limited to the USA and Korea, generalizability across diverse contexts requires caution. However, the findings provide meaningful insight on how to manage projects in an environment of increasing complexity and ambiguity.

This study provides interesting insight into how project teams approach platform product development. Based on the empirical test, this study shows how cross-functional teams integrate front-end project plan formulation and back-end project work implementation. This study also presents how heavyweight manager and customer involvement addresses the front-end information challenges and influence platform product practices.

This study empirically tests the role of fuzzy front planning in impacting project team success. In particular, this study highlights the dynamic relationships between heavyweight managers and customer involvement, information quality (i.e. uncertainty and equivocality), and the nature of team purpose and mission which are all crucial for effective cross-functional teamwork.

Having complexity theory as the overarching conceptual rationale, this paper presents a research model that defines external drivers, strategic and internal business practices and performance outcomes in service firm contexts.

Using an original survey instrument, the authors empirically examine business process management (1) adopting the mediating roles of shared goal practices and technology imperative practices (2) involving moderating roles of competitive market environments and joint implementation practices.

In response to dynamic market complexity, firms implement business process management through shared goal practices and technology imperative practices for achieving customer service outcomes. The findings also suggest the moderating roles of competitive pressure and joint implementation practices.

Generalizations here are limited to service firms. Increasing customer service expectations (e.g. simplicity, convenience, visual images and rapid responses) require firms to involve cross-functional work throughout their organizational processes.

In digital environments, business process management requires socio-technological synergy through shared goal practices and technology imperative practices.

Building on a theory-driven research model, a survey instrument provides tools to examine business process management of service firms that sense dynamic market complexity challenges and translate them to achieve desirable customer service outcomes.

This paper empirically examines the implementation pattern of different types of lean management (LM) techniques on the shop-floor. Based on the socio-technical systems framework, LM techniques are classified as social improvement tools and technical process standardization and stability practices. This categorization facilitates investigating their implementation relationship in a complex production system.

Based on the survey data from managers of the three major US auto-manufacturers and their suppliers (n = 137), measurement scales are developed using confirmatory factor analysis for the LM process improvement, stability, and standardization constructs. Hypotheses are tested by applying the Sobel test technique for mediating regression.

Statistical results confirm the mediation role of LM improvement tools between standardization and stability goal practices, indicating that technical process-oriented practices are not directly related and that their association is impacted by the corresponding implementation of social tools on the shop-floor.

The results indicate that LM practices should not be randomly implemented on the shop-floor but rather adopted and executed based on a systematic pattern. In LM systems, the implementation of process stability, standardization, and improvement practices on the shop-floor are more tightly integrated than traditionally assumed.

This study establishes a new categorization of specific LM tools based on social and technical characteristics. The conclusions highlight the importance of adopting a social emphasize of continuous improvement to establish a technical focus of process standardization and stability for LM implementation success.

This paper examines the role of a sustainability business model in clarifying a firm's sustainability value articulation (SVA) to achieve sustainability outcomes and examining the moderating role of supplier involvement practices SIP and technology systems integration (TSI) in attaining sustainability outcomes.

Drawing upon the foundational principles of business model innovation, specifically articulation and implementation, the authors formulated a theoretical construct and empirically validate it through analysis of data collected from 692 manufacturing firms dispersed across 23 countries.

The research shows that focusing on SVA significantly improves how a company implements sustainability efforts internally (ISI) and externally (ESI), leading to better social and environmental outcomes. It also highlights that SIP improve the relationship between SVA, ESI and ISI. Similarly, TSI boosts the effect of internal and external sustainability efforts on both social (SOP) and environmental performance (EnP).

While acknowledging the inherent constraints of survey-based research methodologies, this study offers a theoretical and verified approach for manufacturers to achieve comprehensive sustainability. It emphasizes the need for clear, actionable sustainability goals that can be met through both internal operations and external partnerships.

This study clarifies how manufacturers can implement sustainable business models, emphasizing the importance of clear sustainability goals and initiatives both within and outside the company. It highlights the dual aspects of supplier engagement through operational tactics (ESI) and strategic collaborations (SIP).

This study reveals a thrilling truth: when companies champion clear sustainability goals, they unlock powerful strategies that revolutionize practices within their walls and in their external dealings. It is not just about going green; it is about weaving financial prosperity, social responsibility and environmental stewardship into the very fabric of their business models. But there is more – by cleverly engaging suppliers and harnessing cutting-edge technology, companies are not just participants in the green revolution; they are leading it, crafting a world where business thrives alongside the planet and its people.

This research stands out for its empirical analysis of how manufacturing firms implement sustainability innovations at the plant level, an area previously underexplored despite extensive theoretical work on sustainability-centric business models.

In view of dynamic and widespread economic transformation in emerging economies, managing organizational change and growth in this context deserves more research attention. The purpose of this paper is to examine how three organizations in different industries manage change, growth and transformation in their organizational ecosystem.

The authors conducted in-depth interviews with the leadership of three organizations in different economic sectors in India, a country representing an emerging economy. The authors also reviewed historical data from these organizations. Three case studies illustrating the evolution of these organizations were developed from the data collected.

Lessons and implications from the three case studies suggest the following key elements of effective organizational change mechanisms in an emerging economy: visionary entrepreneurial leadership; program quality excellence; scale growth and scope expansion; network capabilities; and sustainable stakeholders’ engagement. At the same time, this study also shows how these organizations manage change, growth and transformation in the context of a society with strong traditions and cultural norms.

Results and conclusions may be limited by the fact that the study is based on three case studies. Additional studies from a variety of industries with large numbers of participants will be helpful in more fully understanding the ways in which change, growth and transformation can best be developed and deployed in different organizational settings.

The proposed model of organizational change in an emerging economy may assist organizational leadership in designing and sustaining their change efforts.

This study highlights the role of visionary entrepreneurial leadership and the impact of organizational growth mechanisms on organizational value delivery capabilities and organizational reputation.

Lessons and implications of five growth steps of outstanding organizations in an emerging economy context provide valuable insight for organizational change, growth and transformation in other emerging contexts.

The business sector plays a major role in achieving comprehensive economic development goals in emerging economies. Consequently, the effects of business responses to the COVID-19 pandemic are receiving increasing research attention from an organizational management development perspective. This article aims to examine the role of leadership in charting the course in an extraordinary crisis context.

Using institutional leadership theory, leadership contingency theory and dynamic leadership capability theory, the authors present a research framework that defines macrochallenges and organizational level responses and outcomes. The article adopts a case study approach, which includes the identification of four target companies and conducting in-depth interviews with senior management professionals within those companies at different time periods.

Based on the interviews, the steps that Indian companies adopted to respond to the COVID-19 challenge are identified. Expanding the insight from the case study, the findings suggest that although feeling overwhelmed at first, organizational leaders combine prudent (i.e. timely and speedy actions for survival first) and bold (i.e. future envisioning for expansion and growth) actions enabling these firms to weather two waves of the COVID-19 pandemic in India.

These multiple case studies are unique in exploring MNEs from different industries. This study also highlights the dynamic relationships between leadership practices, risk management strategies and performance outcomes based on a sound theoretical model and rigorous study methods.

This paper aims to examine the relationships between organizational purpose, leadership practices and sustainable outcomes for universities in emerging economies. We propose that a strong sense of purpose is a fundamental and defining feature in the leadership practices of these institutions, which ultimately contributes to their success.

The authors present a research model that defines the relationships between a sense of purpose, leadership practices, student success outcomes, alumni involvement outcomes and societal reputation outcomes. Over 200 higher education administrators in India participated in the study.

The institutions' sense of purpose directly relates to their leadership engagement practices and their student success outcomes. Student success outcomes are a crucial linkage between leadership engagement practices and alumni involvement outcomes to achieve their societal reputation.

As competitiveness intensifies, educational institutions under resource constraints must differentiate their organizational practices. This paper demonstrates how their core purpose and leadership actions result in achieving effective outcomes and overall sustainable societal reputation.

There is a significant difference between having an organizational purpose and enacting that purpose through their leadership practices. These results highlight the cascading effect from the institution's fundamental sense of purpose to their leadership practices and the positive outcomes of student success, alumni involvement and societal reputation.

The purpose of this paper is to examine how clarity of corporate social responsibility (CSR) orientation of Japanese small and medium enterprises (SMEs) achieves constructive firm performance outcomes.

On the basis of the literature review, the authors present a research model that defines key constructs and provide propositions that explain the interrelationships with theoretical rationale and practical implications. Using careful selection criteria, the authors have further conducted the in-depth interviews of the executives of two prominent Japanese SMEs.

The results suggest that CEOs with strong CSR orientation are more likely to influence their firms to achieve effective firm performance. If CSR philosophy is strategically formulated, clearly communicated, and widely accepted, then such firm is more likely to attain desirable business performance outcomes for larger stakeholders. Furthermore, CSR implementation of SMEs is not necessarily too costly; in fact, the long-term rate of return on SMEs’ CSR investment, with proper priority and prudent focus, is quite competitive.

In spite of the specificity of the two case studies, the research model and the study findings give valuable insight on the role of CEO’s philosophy on CSR implementation in the international market. The linkage mechanism between business operation and CSR by these SMEs is applicable to many innovative entrepreneurial firms that target beyond domestic markets.

The authors highlight how the clarity of CSR philosophy in terms of firm orientation and linkage mechanism aids SMEs in overcoming their resource constraints. Furthermore, well-implemented CSR activities may become instrumental in achieving long-term desirable performance in the form of customer loyalty, employee’s sense of pride, and corporate socio-economic reputation.

This study aims to examine the role of safety governance in ensuring public–private interface ecosystems in response to the COVID-19 pandemic. It aims to highlight the role of safety governance in the complex interfaces of pandemic response mechanisms. The analysis is conducted at the national level, considering safety governance issues in terms of test, confirmed cases, fatality rates, vaccination rate, medical capabilities, Information and communications technology capability, Hofstede’s cultural index (individualism and power distance scores), public safety, personal privacy and national health capabilities.

Using multigovernance theory and technology, organization and environment theory, the authors present a research model that defines four independent factors and country level performance outcomes and conducted analysis of variance tests.

Research findings suggest that countries are classified by diverse groups using multiple criteria (e.g. country size, Hofstede’s cultural indexes, ICT capabilities and Governance index). Countries indicate differences in their policy approaches according to their private and public ecosystems. COVID-19 response performance indicators are substantially different.

This study provides the relevance of the multigovernance theory. The empirical results suggest that effective crisis governance is characterized by vertically integrated organizational hierarchies with horizontally connected communication channels that seek maximum voluntary participation and a high level of motivation of informed societal members as a whole. Crisis events occur occasionally, and livelihood routines demonstrate incredible human agility. Gaining insight of the findings from this article may be useful to respond to future crisis events.

This significant study highlights the political and social factors that define response patterns of different countries regarding COVID-19 response mechanisms. With the wide vaccination administration, the COVID-19 landscape shows differences in these countries. This study is rare in providing research framework using Hofstede cultural value and examines with actual data provided by each national government, World Health Organization and credible information sources.