Japanese firms will need to focus on high-growth markets such as China and India while also putting greater emphasis on domestic demand as post-"great recession" world economies appear to become less globalized.
In an economy that cannot depend on a population increase, growth has to rely on new ideas and technologies, and Japan should encourage entrepreneurship within its large corporations. It's also time that Japanese companies started leveraging social networking technologies to identify customer value and shape their own growth strategies.
These were among the opinions and suggestions given by professors from U.S. business and policy schools who spoke during a June 11 symposium organized by the Keizai Koho Center under the theme "Challenges for corporate management in developing and sustaining a growth strategy." Professor Shigeo Kagami of the University of Tokyo served as moderator of discussions.