Eiichi Shibusawa’s Management Philosophy and CSV

Ichiro Mizuno

Chapter 14 in Management Accounting for Healthcare, 2022, pp 273-292 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Eiichi Shibusawa was chosen as the new portrait for the 10,000-yen bill from the first half of 2024. Known as the “Father of Japanese Capitalism,” Eiichi Shibusawa (1840-1931) was involved in the creation of more than 500 companies in Japan, including a bank. This paper aims to tackle Eiichi Shibusawa from the standpoint of a management and accounting researcher; in particular, accounting studies, with its consciousness of the relationship between companies and the society. First, we introduce the fact that Drucker (P.F. Drucker), an authority in management studies, evaluates Eiichi Shibusawa exceptionally. Second, we clarify how Eiichi Shibusawa’s remarkable practical ability in accounting, especially management accounting, was evaluated and came out into the world based on the land where he was nurtured. Eiichi Shibusawa appears as a pioneer in management accounting and made an important contribution to the introduction and establishment of Western bookkeeping methods during the Meiji period. Third, we discuss Eiichi Shibusawa’s management philosophy, “The Theory of the Union between Morality and Economy,” its contents, and their significance. Lastly, we study the fact that CSV (Creating Shared Value) proposed by Porter and Kramer (Porter, M. E. and M. R. Kramer), which is currently attracting worldwide attention, is highly compatible with Eiichi Shibusawa’s “The Theory of the Union Between Morality and Economy.”

Keywords: Management Accounting; Hospital Management; Japanese Management; Cost Management; Profit Management; Cost Information; Healthcare Organization; Empirical Study; Performance Measurement System; Management Control System (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789811237164_0014 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789811237164_0014 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789811237164_0014

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().