Japanese companies have fallen behind their European and US counterparts in the burgeoning Chinese market, a study released today by McKinsey, the research group, says.
The study says Japanese companies have been hampered by an insular corporate culture, which fails to reward and promote local talent. It suggests many groups simply export their management systems to overseas markets and many use Japanese as their official language, even in China.
China has seen an explosion of growth over the past 10 years, with global companies seeking a foothold in a market boasting an increasingly potent middle class with a formidable disposable income.
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