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How have Japanese companies become world leaders in the automotive and electronics industries, among others? What is the secret of their success? Two leading Japanese business experts, Ikujiro Nonaka and Hirotaka Takeuchi, are the first to tie the success of Japanese companies to their ability to create new knowledge and use it to produce successful products and technologies.

To an outsider, Toyota is hard to understand. The company moves forward gradually while also advancing in big leaps. It is frugal with its resources while spending extravagantly on people and projects. It is both efficient and redundant.

In The Wise Company, legendary management experts Ikujiro Nonaka and Hirotaka Takeuchi highlight how various companies have confronted the challenge of rapid change. The key: a relentless self-renewal process where companies realize the future they envision, rather than only responding to changes in the environment.