Answer the following questions

v Why two-thirds of takeovers do not benefit the shareholders of the acquiring company?

v What do acquiring companies need to do in order to ensure success?

Text 3 American and Japanese Work Management Differences

A. Read and translate the text

Work management practices across the world are rooted in culture. While companies in some countries retain a well-rewarded and loyal work force, employees of companies in other countries frequently move between companies and are not necessarily looked after in times of financial instability. The behavioral patterns of American and Japanese employees demonstrate this contrast in work management practice between the two cultures.

Staying with the Firm

While Japanese managers tend to stay with one company for their whole career, American managers often move between companies and work for a handful of companies over the course of their careers. Japanese managers tend to see opportunities for development, such as transfers to overseas offices of their company, as an opportunity to learn more about their employer and how it functions. They see this as a chance for career advancement within the company because they gain a robust understanding of how the company works from many angles. On the other hand, American managers tend to see opportunities for development, such as overseas postings, as a chance to build their skills and knowledge that will help build their resume and provide opportunities to move to a job in another company.

Company Loyalty

American and Japanese managers think very differently regarding company loyalty. Japanese managers tend to stay with one firm for life for moral reasons, because they believe that it is not correct to accept a position with another company. This is rooted in the strong feeling of commitment they have to their company. They firmly believe that their relationship with their company is a two-way one, and that ultimately they will look after each other. Conversely, American managers generally have a stronger feeling of loyalty and commitment to themselves than to the companies they work for. They do not feel much of a sense of owing something to their company; if a better job opportunity is offered, they will most likely take it.