Yin-Yang representation of financial crisis: a Korean perspective

Kim, A. and Vanheusden, F.J. ORCID: 0000-0003-2369-6189, 2019. Yin-Yang representation of financial crisis: a Korean perspective. International Journal of Management Concepts and Philosophy, 12 (4), pp. 385-408. ISSN 1478-1484

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Abstract

Although the concepts of Western-Eastern integration to optimise management strategies are well-established, investigations on the applicability of these concepts in real-life situations are lacking. This study investigates how integration of (Eastern) Yin-Yang principles of seeking balance into Western concepts benefitted Koreans in combatting financial crises repercussions. Through analysis of 519 South Korean economic magazine covers taken over the period 2007-2012, the study shows the mindset of Korean society during the 2008 financial crisis. The covers provide a balanced interpretation of crisis events as both disastrous and opportunistic. Traditional Yin-Yang values therefore appear to be preserved in Korean management philosophy, even though contemporary Korean business strategies are strongly influenced by Western principles. By comparing these findings with social attitudes during previous crises in Korea, the study provides a real-life example of possible benefits of integrating Eastern and Western philosophy in management strategies.

Item Type:	Journal article
Publication Title:	International Journal of Management Concepts and Philosophy
Creators:	Kim, A. and Vanheusden, F.J.
Publisher:	Inderscience
Date:	9 October 2019
Volume:	12
Number:	4
ISSN:	1478-1484
Identifiers:	Number Type 10.1504/IJMCP.2019.10021861 DOI 689674 Other
Divisions:	Schools > School of Science and Technology
Record created by:	Jonathan Gallacher
Date Added:	10 Jan 2019 11:12
Last Modified:	31 May 2021 15:15
URI:	https://irep.ntu.ac.uk/id/eprint/35523

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