Quiz on Japan and Singapore

What was the objective of Japanese post-war industrial policy?

• To promote foreign trade and investment

• 
  To accelerate economic development by speeding up the transition from capital-intensive to labour-intensive industries

• 
  To accelerate economic development by speeding up the transition from labour-intensive to capital-intensive industries

• To prevent economic development by restricting foreign trade

What are the main mechanisms of corporate governance in Japanese firms?

• Government regulations

• Foreign investments

• 
  Shareholder control

• Main bank monitoring

What is the traditional criterion for promoting people in Japanese firms?

• Seniority

• 
  Experience

• Educational attainment

• 
  Performance-based pay

What is the main type of external funding used by Japanese firms?

• Stock market

• Bank loans

• 
  Government grants

• 
  Foreign investments

What are the main types of inter-company relations in Japan?

• Government associations and industry nexus

• Business groups (i.e. Keiretsu) and cartels

• 
  Supplier networks and R&D consortia

• 
  All of the above

What is the main focus of decision-making in Japanese firms?

• Consensual decisions

• Top-down decisions

• 
  Individual decisions

• Foreign decisions

What is the role of the state in Singapore's business system?

• No role

• 
  Complete control

• Minimal involvement

• Hybrid regime between authoritarianism and democracy

What is the key to Singapore's economic success in managing its labor market?

• Unions

• Rigid labor laws

• High labor costs

• Tripartite management involving employers, employees, and government

How are inter-company relations in Singapore described?

• Highly collaborative

• At arm's length

• Competitive

• Non-existent

What is the historical development that still influences business practices in Singapore?

• Colonialism

• 
  Confucian-based culture

• Imperialism

• Socialism