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But these firms, and others among Japan's big battalions, remain unwieldy conglomerates doing far more tasks than they can manage efficiently.
Two years later he provoked a storm when he (temporarily) replaced some of the cocoa-butter in the company's chocolate with palm oil.Besides, there are plenty of examples of "faceless conglomerates" doing an excellent job of nurturing local brands.
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Call them what you like — conglomerates don't work.
They, the special-interest groups and conglomerates, do not.
Its success has defied the conventional wisdom that conglomerates do not work.
Most of the focused companies failed to perform as well as the diversified companies.How did the better conglomerates do so well?
That means they focus primarily on maximising the market value of their holdings, which conglomerates did not.Their core skill is the ability to maximise return.
Because its main holding company is not listed, Tata need not publish accounts on a "consolidated" basis (ie, adding everything up), as other conglomerates do.
So, after more than 200 years the business was in good order and the succession assured, but in the end the conglomerates did for John Murray.
Rich-world conglomerates did relatively well in the financial crisis: Christin Rudolph and Bernhard Schwetzler of Leipzig Graduate School of Management calculate that the conglomerate discount fell during the crisis from 12.7% to 6% in western Europe and from 10.8% to 7.2% in America.
Whatever their faults, these conglomerates do a better job of providing services than does the Philippine state, with its noxious mixture of incompetence and rent-seeking.Ayala Land provides Makati with much of its public infrastructure in the form of walkways and parks.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com