The Asian Economic Catharsis: How Asian Firms Bounce Back from Crisis

One result of the Asian economic crisis has been to shatter the belief that Asian ways of management are superior to Western ways. Now, just to survive, Asian firms have come to rethink their entire way of managing, and in his latest book, Richter, assisted by his contributing authors, gives a sharply focused analysis of how they are doing it. Not just another book on Asia’s economic problems, Richter explores the impact of the upheaval on business overall. Emerging questions are how Asian firms adjust to the new economic realities? and How they develop their management style? The book concludes that Asian firms must develop, which combine elements of both Western and Asian thinking. Each contributor looks at the topic from a difference perspective, but a common theme soon emerges. There are plenty of new opportunities in Asia to play the new game, but they must be grasped and productively channeled. Richter and his contributors conclude that in the end, the Asian economic crisis, or cathersis, may well be a blessing in disguise. It provides an opportunity to completely review the way things stand in Asia. Like entrepreneurs who built the Asian economies, today’s firms have the opportunity to lead a revival if they can redirect theie businesses. Rapid expansion had a place while the economy was developing, but the situation has changed. Today, those who are willing to forgo expansion in favor of building focused, productive businesses that create value for shareholders will be those that have the brightest future. An important resource for professionals in all multinational organizations and for academics and their upper-level students of international business.