ROYAL HOLLOWAY, UNIVERSITY OF LONDON
SCHOOL OF MANAGEMENT
MN321: ASIA PACIFIC MULTINATIONALS IN EUROPE
2012
Lecturers
Dr Robert Fitzgerald (course leader):
Dr Huaichauan Rui:
Ms Weijia Zhu:
Course Objectives
This course focuses on foreign direct investment by Asia Pacific companies in their key markets of Europe and their importance in relation to worldwide operations; it looks at the leading role of Japanese multinationals, and at the activities of firms from Korea, China and Taiwan; and it compares the strategies and organization of Asian international business and other nations.
Students should understand:
- The characteristics and capabilities of Japan’s multinational enterprises generally, including the influence of home and host country factors
- The role of Japanese multinationals in European markets, compared to Asia and North America
- The characteristics and capabilities of Korean MNEs, the influence of home and host country factors, and their activities in Europe and key markets
- The characteristics of MNEs from mainland China, the differing influences of home and host country factors, and their strategic and organizational objectives
- The strategies, organization and capabilities of multinationals from Taiwan and the Asia Pacific generally
- The similarities and differences of MNEs from Asia Pacific nations
- The global strategies of Asian MNEs, and their impact on Europe and host economies
- The forces of economic internationalization and cross-border integration
- Theories of international business and their relation to the practical cases of leading Japanese, Korean and Chinese multinationals.
Important Requests
The course offers all students the chance to ask questions of leading international business executives. You are invited to seize this rare opportunity. We encourage you to participate and contribute, but request too that your questions are brief, not over-prepared, and to the point.
We would particularly emphasize:
- the importance of arriving for the guest lectures on time (better, in fact, if a little early)
- the importance of not talking during the lecture, or carrying out some other activity other than listening or asking questions (for example, texting during the lecture is obviously rude);
- the importance of not disrupting the session by leaving and entering the lecture theatre during any part of the presentation and discussion;
- and, because the course is designed as bridge between your student studies and your future professional life, the importance of showing a high level of professionalism to visiting VIPs and guests.
The School of Management would expect these standards of behaviour on any course and during any lecture, but they become even more important when we have visiting lecturers. And an early ‘thank you’, too, to the great majority who do cooperate.
You maybe able to converse with our visiting business executives after the lecture, but we would make two further very important requests.
a) The first is to bear in mind that our schedules are often tight, and that both guest and home lecturers often have duties after the lectures. Please be quick to respect and respond to requests by organizers and the home lecturers to end conversations when indicated.
b) The second request is NOT to ask our guest lecturers to assist with course work or dissertations. We value the participation of our guest lecturers, but you must appreciate that there is only so much that we can ask of them. They are busy executives who give up their free time, and, to ensure their continued participation in our programme, we have to act reasonably and limit our demands.
Course Organization
- The course is based on lectures given by the leading executives of major Japanese, Korean and Chinese multinationals
- It is a unique opportunity to meet leading business executives and to reflect on their real-life experiences and knowledge
- Lectures are based on two-hour sessions, including questions and answers, which is your chance to participate and investigate issues in depth
- The lectures are supported by seminars, in which you will be guided on the aims of the course,using theory to explain the corporate and industry cases;discuss home, local and cross-border sources of competitive advantage; compare and understand the cases; and assignment and the examinations.
- Students are supplied with readings before the lectures and seminars, plus a bibliography, and they are expected to undertake weekly study and preparation.
Students will be given material to read each week in preparation for the teaching sessions. Guest lecturers from leading Asian multinationals in Europe and government officials will speak about their experiences and objectives. The resident lecturer will then oversee a discussion session in which all students will be asked to contribute. When there is no external speaker, students will be offered lectures on the Japanese economy, Japanese patterns of foreign direct investment, Chinese multinationals, Korean multinationals, and comparisons between Japanese, Korean and Chinese firms. Links to management literature and theory will be explored.
Lectures
The lecture will take normally place between 4pm and 6pm on Thursdays in the Moore Building Lecture Theatre Please be there by 3.55pm. On occasion, as informed beforehand, we may begin at 3pm.
There may also be adjustments both to the date and the time, so you asked to take note of announcements in class, by email, or by posting on Moodle, and to check email and Moodle on a regular and frequent basis.
As indicated, key readings will be made available. You will be asked to follow the reading schedule for each week, and to prepare for each lecture and seminar.
Students are expected to attend at all times and participate in discussion. It is, therefore, essential that that they read the handouts as preparation; that they consult the bibliography; and that they read widely and critically during the course.
Speakers: Management of Asia Pacific Multinationals: 2012
The speakers this year include senior trade diplomats from Japan and Korea, the world’s largest car company, Japan’s biggest trading firm and a key member of its largest business group, Korea’s number one multinational and a global technological leader, one of Japan’s most important investment banks, a major conglomerate from Taiwan, Japan’s engineering and electronics giant, and China’s most successful multinational.
Mr Jun Arima, Director General, Japan Export and Trade Organization (JETRO), London
Mr Graham Smith, CBE, Senior Vice President, Toyota Motors Europe
Mr Steve Suk-Ho Lee, Deputy Director General, Korea Trade-Development Promotion Agency (KOTRA), London
Mr Paul Lyon, Executive Director, Head of Communications and Marketing,Daiwa Securities Europe
Mr Hans Daems, Group Public Affairs Director, Chairman, Hitachi Europe
Mr Eric Kan, Managing Director, TECO Group UK
Mr Tim Watkins, Vice President, Western Europe, Huawei Technologies
Mr Dan Saunders, Head of Content Services, Samsung Electronics Europe
Lecture, Seminar and Presentation Schedule
Date: 2012 / Lecture:Thursday, MBLT, plus in some weeks Wednesday, MBLT / Seminars:
A: Monday, 9-11am, WOL351
B: Wednesday, 5-7pm, WOL351
C: Thursday, 9-11am, WIN0-02
Week 1 / No lecture / No seminars
Week 2 / Thursday, 19th January, 3-6pm
1. Multinational Enterprise and Japanese Business Strategies: R.Fitzgerald
2. The Theory of FDI and the Asian Multinational: R.Fitzgerald / No seminars
Week 3 / Thursday, 26th January, 3-6pm
3. The Emergence of the Chinese Multinational: H.Rui
4. Asian Multinationals: Cases and Comparisons: R.Fitzgerald
5. Asia Pacific Multinationals: Strategies and Capabilities: R.Fitzgerald / No seminars
Week 4 / Thursday, 2nd February, 4-6pm
6. Japanese Automobile Industry: Toyota
Mr Graham Smith CBE, Senior Vice President, External Affairs, Toyota Motor Europe / Monday 30th January, Wednesday 1st February,Thursday 2nd February
1. Introduction to the course. General study advice. Details on key themes of course.
Corporate Cases and Applying the Theory of the Multinational
H Rui & R Fitzgerald
Week 5 / Thursday, 9th February, 4-6pm
7. Japan Export and Trade Organisation (JETRO)
Mr Jun Arima, Director General, JETRO London / No seminars.
Week 6 / Thursday, 16th February, 4-6pm
8. Banking: Daiwa Securities
Mr Paul Lyon, Executive Director, Head of Communication & Marketing, Daiwa Capital Markets / Monday 13th, Wednesday 15th, & Thursday 16th February
2. Japanese Multinationals: Strategy and Capabilities
H.Rui & R Fitzgerald
Week 7
NB Two lectures this week / Wednesday, 22nd February, 5-7pm
9. Mr Hans Daems, Group Public Affairs Director, Hitachi Europe
Thursday, 23rd February, 4-6pm
10. Korea Trade-Investment Promotion Agency
Mr Steve Suk-Ho Lee, Deputy Director General, KOTRA London / No seminars
Week 8 / Thursday, 1st March, 4-6pm
11. Electronics: Samsung Electronics
Mr Dan Saunders, Head of Content Services, Samsung Electronics Europe / Monday 27th February, Wednesday 29th February,Thursday 1st March
3. Korean and Chinese Multinationals: Strategy and Capabilities
Assignment advice
H Rui and R Fitzgerald
Week 9 / Thursday, 8th March, 4-6pm
12. Electrical, Machinery and Services:TECO Group
Mr Eric Kan, Managing Director, TECO Group UK / No seminars.
Week 10 / Thursday, 15th March, 4-6pm
13. Telecommunications: Huawei Technologies
Mr Tim Watkins, Vice President, Western Europe, Huawei Technologies / Monday 12th, Wednesday 14thThursday 15th March
4. Examination advice and revision.
Week 11 / No lecture / No seminars
Assignment Due / Thursday, 22nd March 2012. NB30% of course marks
End of Term / 23rd March 2012
Assessment
End of Year Examination: 70%
Assignment: 30%
The examination will consist of a 2-hour paper in which students will be invited to answer two questions. The assignment will be between 2000-2500 words.
Marks will be awarded for structure, insight, depth of analysis, and perspective and context. Students will have to demonstrate an ability to combine information from the guest lecturers, written empirical information, and management theory and ideas. They will have to show wide reading, and demonstrate insight through precise analysis, critical perspective, and clarity in the understanding of the key issues.
Assignment Question
How can we account for the rise and growing role of multinational enterprises from the Asia Pacific in the global economy and in Europe in particular? Specify your reasons using corporate cases of multinationals from different industries and different countries of origin.
Please note that when you are analyzing, for example, Japanese multinationals in the electronics industry, your comparisons do not have to be limited to Japanese rivals. Comparisons with Asia Pacific and European multinationals may be more apt and useful. The same point applies to Korea, Chinese and Taiwanese firms.
Consider a number of perspectives, including the aims of Japanese multinationals in relation to global strategies; the aims of Korean and Chinese multinationals and international business strategies; differences between industries and types of business; the degree of global versus regional control, and changes in operational control over time; the competitive advantages of these multinationals compared to those of rivals; variations in management, organization, and operations between home country and host nations; the ability of Japanese, Korean and Chinese multinationals to compete in Europe, Asia and North America, and their ability to adapt to changes in policy and markets; and the policies of host governments and the relevance of the EU.
Bibliography
*indicates initial reading or recommended for overview and case material
*D J Kim, Newly Industrializing Economies and International Competitiveness: market power and Korean electronics multinationals (2006)
J Shen and V Edwards, International Human Resource Management in Chinese Multinationals (2006)
J S Black, Sunset in the land of the rising sun: why Japan’s multinational corporations will struggle in the global economy (2010)
F Nicolas, Korea in the New Asia: East Asian integration and the China factor (2007)
W K Liang, Knowledge transfer and entry strategies of Taiwan multinationals, in DP Sullivan & JD Daniels, Multinational Enterprises and the Emerging Challenges of the 21st Century (2007)
N K Kim, Globalization and regional integration in Europe and Asia (2009)
K P Sauvant and W A Maschek, Foreign direct investments from emerging markets: the challenges ahead (2010)
*S.K.Vogel, Japan Remodeled: how government and industry are reforming Japanese capitalism (2006). Useful survey of implications of recent trends in the Japanese economy.
*J.Dunning and S M Lundan, Multinational Enterprises and the Global Economy (Elgar 2008). Look for the latest edition.
* M A Witt, Changing Japanese Capitalism: Societal Coordination and Institutional Adjustment (2008)
T.Elger and C.Smith, Assembling Work: remaking factory regimes in Japanese multinationals in Britain (OUP, 2005)
S.Urata, Overseas R&D Activities and Intra-Firm Technology Transfer: the Case of Japanese Multinationals (E.Elgar, 2003)
RA Belderbos and MLG Heijtjes, ‘The determinants of expatriate staffing by Japanesemultinationals in Asia: control, learning and vertical business groups’, Journal of International Business Studies, May 2005
* A Gorzen and S Makino, ‘Multinational corporation internationalization in the service sector: a study of Japanese trading companies’, Journal of International Business Studies, Dec 2007
* T Roehl and A Bird, Japanese Firms in Transition: Responding to the Globalization Challenge
(Advances in International Management, vol. 17, Amsterdam and San Diego: Elsevier, 2005)
E Cleeve, ‘Japanese Foreign Direct Investment in the UK Electronic Industry: The Eclectic Approach’, Asia Pacific Business Review, Apr 2007, Vol. 13 Issue 2, pp183-200
J. Jaussaud and J Schaaper, ‘European and Japanese Multinational Companies in China: Organization and Control of Subsidiaries’ , Journal of Asian Business & Management, Sep 2007, Vol. 6 Issue 3, pp.223-245
Y. Yamazaki and D C Kayes, ‘Expatriate learning: exploring how Japanese managers adapt in the United States’, International Journal of Human Resource Management, Aug 2007, Vol. 18, Issue 8, pp.1373-1395
D Tan and J T Mahoney, ‘The Dynamics of Japanese Firm Growth in U.S. Industries: The Penrose Effect’, Management International Review, 2007, Vol. 47 Issue 2, pp259-279
J Jaussaud and J Schaper, ‘European and Japanese Multinational Companies in China: Organization and Control of Subsidiaries’, Journal of Asian Business & Management, Sep 2007, Vol. 6, Issue 3, pp.223-245
A Cross and S A Horn, Japanese Multinationals in China 2007 (Routledge, 2007)
B Andreosso-O'Callaghan, J-P Bassino, S Dzever, J Jaussaud, The Economic Relations Between Asia and Europe : Organization, Control and Technology (Oxford Chandos, 2007)
J.C.Ableggen, 21st Century Japanese Management – New System, Lasting Values (2006)
* S J Kewley, Toyota’s French Connection: Trends in Japanese European Automotive Relations (RIIA 2002)
K W Radtke and M Wiesebron, eds, Competing for Integrations: Japan, Europe, Latin America, and Their Strategic Partners (2002).
T.Malcom, ed., The Internationalization of Japanese Business: European and Japanese Perspectives (Westview Press, 1987).
J E Hunter and S Sugiyama, eds, Japan’s International Relations 1600-2000, vol4, Economic and Business Relations (2002)
T D Keeley, International Human Resource Management in Japanese Firms: their greatest challenge (2001)
* P W Beamish, A Delios, and S Makins, Japanese Subsidiaries in the New Global Economy (2001)
*T Kono and S Clegg, Trends in Japanese Management: Continuing Strengths, Current Problems and Changing Priorities (2001). Useful survey and cases on changes in Japanese management.
V Franicevic and H Kimura, eds, Globalization, Democratization and Development: European and Japanese Views of Change in South East Europe (Zagreb 2003)
* R Busser and Y Sado, eds, Production Networks in Asia and Europe: skill formation and technology transfer in the auto industry (2003)
S Jacoby, The Embedded Corporation (2004)
P. Wickens, The Road to Nissan: Flexibility, Quality and Teamwork (Macmillan, 1987).
S. Thomsen and P. Nicolaides, The Evolution of Japanese Direct Investment in Europe (Harvester Wheatsheaf, 1991).
Yoshitomi Masaru et. al., Japanese Direct Investment in Europe: Motives, Impact and Policy Implication (Aldershot: Avebury, n.d.).
N. Oliver and B. Wilkinson, The Japanization of British Industry (Oxford, 1992).
Jonathan Morris, Working for the Japanese: The Economic and Social consequences of Japanese Investment in Wales (Athlone Press, 1993).
*T. Elger and C. Smith (eds), Global Japanization ?: The Transnational Restructuring of the Labour Process (Routledge, 1994). Implications and meanings of ‘Japanization’ and globalization.
* M. Mason and D. Encarnation, Does Ownership Matter? : Japanese Multinationals in Europe (Oxford University Press, 1994).
Dayanand Arora, Japanese Financial Institutions in Europe: Securities Companies (Elsevier, 1995)
Jonathan Klavens, Foreign Direct Investment in Central and Eastern Europe: A Survey (World Bank, 1995).
* F. Sachwald, ed., Japanese Firms in Europe (Harwood Academic Publishers, 1995).
* J. Darby, ed., Japan and the European Periphery (Macmillan, 1996).
*Mark Mason, Europe and the Japanese Challenge: The Regulation of Multinationals in Comparative Perspective (Oxford University Press, 1997). Thorough survey of Japanese MNEs in Europe.
UNCTAD, Sharing Asia’s Dynamism: Asian Direct Investment in the European Union (United Nations Publications, 1997).
Harukiyo Hasegawa and Glenn D. Hook, Japanese Business Management: Restructuring for Low Growth and Globalization (Routledge, 1998).
Carl Aaron, The Political Economy of Japanese Foreign Direct Investment in the UK and the US: Multinationals, Subnational Regions and the Investment Location (Macmillan, 1999).
Roger Farrel, A Yen for Real Estate: Japanese Real Estate Investment Abroad: From Boom to Bust (Edward Elgar, 2000)
*G.Jones, The Evolution of International Business (1995). Valuable survey of development of MNEs generally.
*M.Mason, Japanese Multinationals in the Changing Context of Globalisation (1994). Thorough survey of Japanese industry cases.
S.Young, Europe and the Multinationals (1992)
J.L.Muccielli, Multinationals and Europe: Strategies for the Future (1992)
J.H.Dunning, Multinationals and the European Community (1988)
*J.H.Dunning, Multinational Enterprises and the Global Economy (1995). Classic, unrivalled analysis of MNEs. Updated 2008.
E.Abe and T.Gourvish, Japanese Success? British Failur?e (1997)
*T.Yuzawa, ed., Japanese Business Success (1994). Useful case studies.
R.Strange, Japanese Manufacturing Investment in Europe (Routledge, 1993)
W.Carl Kester, Japanese Takeovers: the Global Contest for Corporate Control (1992)
T.Kono, Strategic Management in Japanese Companies (1992)
J.Ableggen and R.Stalk, Kaisha (1985)
M.Trevor, Japan’s Reluctant Multinationals: Japanese Management at Home and Abroad (1983)
Y.C.Kim, Japanese Inward Investment in UK Car Manufacturing (1999)
M.Trevor, International Business and the Management of Change: European-Asian Perspectives (1991)
J.Ritchie, East Asian Direct Investment in Britain (1999)
F.Chesnais, European Internationals and Global Corporate Strategy (2000)