T here are multiple ways for companies to stay competitive in a globalized world, and even firms in what are often perceived as sunset industries have the potential for success, scholars and business executives said at a recent symposium in Tokyo.
The sheer pursuit of cheap labor is not a winning strategy, and companies relying too much on outsourcing could end up losing their innovative capability, the participants said at the Jan. 18 symposium, "Globalization and the future of the national economy."
The event, held at Keidanren Kaikan, was jointly organized by Keizai Koho Center and the Massachusetts Institute of Technology's Japan Program.