The complete sharing of financial data by management is believed to make the typical collective bargaining process more equitable for all parties involved. However, even if this information is not fully shared, the union can still collect a substantial amount of company financial data from other sources. The time dimension of a country is a key determinant of the time horizon prevalent in the business sector. There is a direct impact on their respective financial practices. A comparative analysis of the financial management ideologies, practices and techniques, within the framework of time horizon, offers an explanation of Japan's inordinate economic success in the global market.
Studies show that many employees fear and distrust performance appraisals.
Many employees view performance appraisals as nothing more than a year-end obligation that has little true meaning. Significant Historic Origins that Influenced the Team Concept in Major Japanese Companies. Journal of Applied Business Research . Major historical aspects of the Japanese people reinforce their continued inclination to conform to societal norms at the cost of their own individualism. We look at this unique characteristic of their country, often referred to as a need for dependence versus the need for independence, with a historic perspective.