The Role of Governments in Markets by John F. Wilson

Author:John F. Wilson
Language: eng
Format: epub
Publisher: Taylor and Francis
Published: 2021-09-15T00:00:00+00:00

Keiretsu and the organizational capabilities of individual firms

There has been a debate among scholars on decision-making in the industry. The essence of the discussion is how each firm built up its capability under the shadow of keiretsu configuration and the interplay among keiretsu members. One argument regarded keiretsu groups as decision-making bodies; another saw member enterprises as primary actors. The former recognized the dominance of keiretsu groups in a full range of industrial activities that weakened the individual function of member firms in decision-making processes. The latter insisted that the momentum for enterprise growth should be within the enterprises themselves and that keiretsu groups should just play a complementary role. The cases of Mitsubishi Petrochem and Mitsui Chem appeared to justify the former argument, but other cases and the long-run evolution of the industry justified the latter.37 However, in contrast with Western experience, one fact was obvious, that the collective actions of keiretsu member firms showed a propensity towards intra-group business tie-ins.38

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