Growth Strategy for Building a Win-Win Relationship

In recent years, structural changes in the world economy have captured our attention. Since the onset of the financial crisis in 2008, however, the very systems and methodologies we have come to rely on have been shaken to the core, with advanced countries suffering the brunt of this upheaval. We are seeing the evolution of new societies in which our economic structures, our values, and other traditional concepts have changed dramatically. These changes have affected companies as well. Today's enterprises must communicate closely with their ever-diversifying stakeholders, function as members of society, and initiate sustained, proactive measures to benefit their communities.

Part of all this is being environmentally conscious and responsible. In countries around the world, there are increasing initiatives to build "smart communities" that integrate the efficient use of energy, new transportation systems and other factors in consideration of a healthy natural environment. Many companies have been proactively involved in "model businesses" that have strong environmental connections beyond the scope of industry. The general public is also becoming increasingly conscious of environmental issues and the value of developing "greener" cities. Several initiatives have been taken to urge citizens to make a difference. One notable and very promising example is the encouragement of household solar photovoltaic power generation. The average household, which traditionally has only been a consumer of energy, can now function as an energy provider as well, by supplying electricity generated from its own solar panels. The supplier-user relationship is diversifying, with the roles of each party becoming less and less clearly defined. The most important challenge for any company, however, is building a win-win relationship that satisfies all of its stakeholders.

Creating new demand in fields like the natural environment and tapping into growth in Asia are central pillars supporting Japan's growth strategy. China and India are two excellent examples of countries where increasing incomes are creating higher demand for automobiles and other durable consumer goods, and where there is a significant need for infrastructure development. The railway linking Delhi and Mumbai, and Tianjin's large-scale Urban Development and Environment Project, are two cases in point. Japanese companies are being asked to get involved in these developments, not only to deliver equipment and machinery, but to build systems, train personnel, and pursue other initiatives that can instill a new sense of values with respect to the conservation of energy and natural resources.

The concept of building win-win relationships with diverse stakeholders is new to both Japanese companies and government. To establish and execute its growth strategy, Japan must take advantage of its strengths and build win-win relationships that benefit society and the world.