Rewriting Japanese business culture in Abenomics-driven economy
Japan has been my home for nearly three decades. As a former entrepreneur in Japan, and now as the executive partner of White & Case's Tokyo office, I often think about what is needed for Japanese businesses to succeed.
This is obviously a complex topic. Japan's economy and culture are unique. We are also operating in an environment keenly aware of Japan sliding into its fourth recession since 2008 (and some would argue that Japan has effectively been in recession for more than two decades).
The economic outlook is unlikely to improve significantly in the near term, however it is clear that many Japanese companies will continue to be successful on a global basis, and some will become new global brands.
But what will differentiate these companies from others that will likely fall into decline? What strategies will succeed in the face of fierce competition from global companies that are successfully delivering market-leading products and services in areas once dominated by Japan?