The reason that many Japanese firms captured major shares of world markets in the 1970s was the result of their focus on quality rather than efficiency.

Question

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Japanese firms during the 1970s put a strong emphasis on quality control and continuous improvement, which enabled them to produce high-quality products that were sought after by consumers around the world. This emphasis on quality, known as "kaizen," gave them a competitive edge over firms that simply focused on cost-cutting and efficiency. As a result, Japanese companies were able to capture major shares of world markets in industries such as automotive, electronics, and machinery.

The Reason That Many Japanese Firms Captured Major Shares of World