Frank Richter

With much of the Asian Miracle destroyed and much of the Western world's awe for Asian ways of management dissipated, organizations there are changing with such speed that most of our knowledge about them is quickly outdated. Richter takes stock of East Asian management practices, as they are perceived so far, and he discusses the strategies that others propose to help Asian management redesign itself for the future—including a long-term agenda for change based on the cultural heritage of Confucianism. He analyzes the cultural underpinnings of Asian management practices, evaluates the influence of the Asian economic crisis on them, and discusses their potential for guiding Asian firms to a sustainable competitive advantage. He then provides examples of how Asian firms shape up their organizations and describes a short-term agenda to fix the weaknesses in Asian management, at least temporarily. Throughout, Richter avoids talk about strategic management as merely a theory: he adopts a broader definition that includes a value system to guide East Asian firms as they re-emerge and redevelop. The result is a challenging, intensely pragmatic analysis for decision-makers at all levels, in all countries and cultures, and it is a new stone in the foundation of academic research and thought.Richter opens with a discussion of the legacy of Confucianism and its impact on Asian management practices. He then proposes three intrinsic characteristics of Asian management: networks, trust, and collectivism. He gives a history of the Asian economic crisis, highlighting the failures of Asia's economic development and the flaws that appeared in its management practices. The third section of the book evaluates management practices that have emerged since then, and how they are perceived so far. Then, in the concluding section, he presents a new perspective on Asian management, short-term goals (fixing current management weaknesses), and long-term goals (incorporating its long abiding strengths). Throughout, Richter draws on the management theory enunciated by Hofstede and includes examples and case studies of recent developments across the region, and he also includes his own theories as well as those of others. Mr. Richter's book will be a welcome addition to the literature on business and the culture of Asia.

In der Arbeit wird gezeigt, welche Bewertungsprobleme bei kapitalmarktbezogenen Unternehmenstransaktionen wie zum Beispiel Erstemission, UEbernahmeangebot oder Grenzpreisbestimmung fur Geschaftsbereiche bestehen und wie diese geloest werden koennen. Unter der Pramisse arbitragefreier Kapitalmarkte wird ein leistungsfahiger Bewertungsansatz vorgestellt, der institutionelle Normen und Handlungsoptionen der Kapitalgeber und Manager berucksichtigt. Auf praxisrelevante Detailprobleme wie etwa die Berucksichtigung der Einkommensteuer wird ebenfalls eingegangen. Anhand einer realen Fallstudie wird die Anwendung des Ansatzes demonstriert.

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. Emerging questions are how do Asian firms adjust to the new economic realities? and How do they develop their management style?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 catharsis, 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 their businesses. This is an important resource for professionals in all multinational organizations and for academics and their upper-level students of international business.

Already the world's third largest economic power, China presents enormous potential for businesses worldwide. Opportunities abound, and despite current economic crises throughout Asia, Richter and the contributors to this unique volume are convinced that opportunities in China can only increase. They explore and analyze these opportunities and the management practices that implement them. In doing so they study the Chinese economy, forecast the future of Chinese business organization, and assess China's place in the coming global economy. Recent developments in the Chinese economy show how Chinese firms actively pursue new strategies to shape their organizations. The current Asian crisis will radically alter the patterns of doing business in China, and Richter and his contributors explain how Western firms can cope with these ongoing changes. Other books, usually from the Western viewpoint, tend to describe only the present structure of the Chinese economy. Richter's looks at it from China's viewpoint and advocates a dynamic approach to the study of Chinese organizations. The analytical scope of the book concentrates more thoroughly on transforming organizations' structures than is found in other mainstream studies. Their book is thus a true inside view of China's economic and business structures, by people who have studied and know it intimately—a book that will help corporate executives and their academic colleagues appreciate China's vitality and understand the reasons for her optimism.Although knowledge of China is growing it still remains relatively sparse, considering the rise to prominence of Chinese business enterprises. Richter and his Chinese experts (visionaries he calls them) seek to fill the gaps. They look at the complex questions associated with the concept of ownership and control in China and address economic policy and the development of the Chinese firm. They look at the development path of some selected industries, then itemize the challenges that multinational companies face in China, ending with a discussion of a hypothetical way of managing. All of the contributors are members of the worldwide Chinese business and academic communities. The research presented inspires further academic discourse and managerial policy in face of evolving Chinese reality. The book supplies expert knowledge and support for business practitioners, policy analysts, scholars and students in China and abroad.

Despite the current crisis, Asian economies remain an important market for firms around the world and continue to be stiff competitors in world business. One reason for the region's strength, and a predictor of Asia's endurance, are its business networks—^Ikeiretsus^R in Japan, ^Ichaebols^R in Korea, and other forms that connect single firms, entire industries, and which interlink the region as a whole. Richter and his contributors examine the origins of business networks, their effects on the economies, and the implications of their presence and growth in Asian economies. Corporate strategic planners, marketing executives, and other decision makers will find here an important contribution to their understanding of why Asia's economies will pick up again and how they will continue to grow.The book examines the promises of business networks and the role of transaction costs, interdependence, and membership commitment. The contributors do not automatically assume that past successes of these networks will mean future successes; rather, they define the outlines of new and innovative forms of networks, and see in their configurations an even better platform for further economic development in Asia and for the globalization of Asian multinationals. Contributors offer a critical approach to theory and practice of Asian networking, and because of their national diversity are able to provide a variety of viewpoints on them. Research-based and presenting the thinking of scholars and practitioners alike, the book supplies expert knowledge and a basis for academic discourse on managerial policy not easily found elsewhere.

Die Arbeit operationalisiert das Unternehmensziel der Marktwertmaximierung. Aufbauend auf den theoretischen Grundlagen, wird die integrierte Wertrechnung entwickelt, die den gesamten Fuhrungsprozess von der Strategiefindung bis zum Umsetzungscontrolling zielkonform unterstutzt. Theoretisch fundiert und von einer realitatsnahen Fallstudie begleitet, wird gezeigt, wie moderne Discounted Cash-flow-Methoden unter deutschen Rahmenbedingungen angewendet werden konnen. Dabei werden aktuelle Themen der Investitionsrechnung unter Unsicherheit und der Aquivalenzbedingungen von Discounted Cash-flow-Methoden praxisorientiert dargestellt. Erstmals wird die Kosten- und Leistungsrechnung in das Gesamtkonzept integriert. Wie die Instrumente der marktwertorientierten Unternehmensfuhrung auf Basis offentlich verfugbarer Daten angewendet werden konnen, wird detailliert ausgefuhrt."