This week again, Professor Akie Iriyama of Waseda University Business School will discuss issues based on management theory. I refer to his book “World Standard Management Theory”. However, this series can be easily read without this book.
Although there is a lot of dark news these days, such as the declining birthrate, labor shortages, and political scandals, Professor Iriyama says, “I feel there are many possibilities for Japan in the future.” What are the signs of new changes that you are paying attention to towards 2024? I asked them to list three.
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3 reasons why 2024 will be a bright year
Hello, this is Akio Iriyama.
It’s early, and it’s already nearing the end of the day.
Writer Nagayama
Mr. Iriyama won the “New Words/Buzzwords Award” selected by “Basic Knowledge of Modern Terminology” this year as well.It has been announced. Have you seen the lineup of award-winning buzzwords?
Yes, I’m watching it now. The grand prize went to Hanshin’s winner “ARE”, and the top ten went to “New School Leaders” and “Frogification Phenomenon”… This is the first time I’ve heard of the frog phenomenon. What is this?
BIJ Editorial Department/Arahata
It’s when someone you’ve loved for a long time suddenly loses feelings for you because of their actions. I believe it was originally a psychological term that meant, “Even if you secretly like someone, as soon as they start showing affection towards you, for some reason you suddenly lose interest.” However, it seems that the word has changed and started to refer to small unpleasant gestures or actions of the love interest.
Is this what you call the “frog phenomenon”? For example, “I don’t like slurping ramen making noise.”
BIJ Editorial Department/Arahata
That’s right, that’s right.
Returning to the top ten buzzword awards, I think it’s no surprise that “generative AI” was chosen, but I didn’t know about “boiling the earth” or “watching general.”
This is said every year, but even though it’s a buzzword, many of us are hearing it for the first time.
Writer Nagayama
I didn’t know much about it either (lol). Looking back on this year from this buzzword award, what kind of year do you think 2023 was? Or what kind of year will 2024 be?
Every year I say, “Now is the turning point.”I think 2023 was a turning point in particular for the future from next year onwards.. And that’s not in a negative way, but in a positive way. Right now, I see a lot of possibilities in Japan.
Japan is a developed country with many issues, including a declining birthrate and an aging population, but if we work really hard to tackle them, we might be able to change some of the things that have gone wrong in the past. In 2023This was the year when some of those opportunities sprouted.I think.
The first is the economy. Currently, due to tensions between China and the United States, various countries are starting to decouple their economies and markets (this is called “decoupling”). Although that is a concern,Thanks to this decoupling and the weaker yen, there are signs that Japan’s manufacturing industry is regaining its competitiveness.. We have high hopes for the semiconductor-related industry in particular.
Taiwanese semiconductor giant TSMC set up a base in Kumamoto in anticipation of the risks of a Taiwanese emergency, and Japanese semiconductor manufacturer Lapidus opened a factory in Hokkaido. In fact, although it has not been officially reported yet, there is talk that American semiconductor giant Nvidia will establish a research institute in Japan.
Japan is not strong in semiconductor manufacturing itself, but it is strong in peripheral industries. There are many wonderful companies such as Advantest, Screen, and Resonac (formerly Showa Denko). After all, semiconductors cannot function without related industries. In that sense, I think there are many possibilities.
High expectations for Gen Z entrepreneurs
The second thing is that more and more interesting Gen Z entrepreneurs, just like Mr. Arahata, are emerging.They have ideas and execution skills that I can’t even imagine..
I often invite entrepreneurs to speak in classes at Waseda University Business School, and the other day I had Daiki Okai from Luup, an electric scooter and bicycle sharing service, come to talk. Ta.
Nowadays, you can see Luup charging stations everywhere in Tokyo, and they are truly amazing. Of course, there are pros and cons, such as “Isn’t it dangerous?” and “Isn’t it okay to not need a helmet or a license?” However, persuading the Ministry of Land, Infrastructure, Transport and Tourism and the National Police Agency to make it so popular is something Uber, a car sharing service, could not have done in Japan. Okai-kun achieved such a feat in his 20s.
Ryo Iwamoto also received the Culturepreneur Award. He is also a tea ceremony master and an entrepreneur who runs a tea room venture called TeaRoom. Or Chika Eri, who makes shorts called “Okaeri Shorts” that are easy for women to wear. She is still an active student at Tsuda Juku. I have high hopes for such interesting people as they are appearing more and more.
New movements are gaining momentum in rural areas
The 3rd oneInteresting movements are emerging in local areas, including the idea of ”new capitalism.”is. The first one is Coop Sapporo in Hokkaido, which I am also involved with. The other day, I connected Coop Sapporo with Chiaki Hayashi, who created Loftwork, and she too was captivated by the greatness of Coop Sapporo.
So, at a new company she had created called Q0, me, Co-op Sapporo’s chairman, Hideaki Omi, and Hayashi-san had a talk session. Even listening to other sessions at that event, I felt that there was a huge movement to make regional areas more interesting. This is the case in Ama Town in Shimane Prefecture, where I am involved, and also in Nara Prefecture, where there is a movement in earnest to explore the future of the region. I think this movement could truly become a leading example around the world.
I gave up my American green card (permanent residence) and returned to Japan 10 years ago.I had a hunch that Japan would be more interesting from now on.is. I think that intuition was correct.
That’s why my personal top three buzzwords of the year are “signs of a recovery in the manufacturing industry,” “Gen Z entrepreneurs,” and “new local movements.”
BIJ Editorial Department Tokiwa
How do you see these three things blossoming in 2024?
I think the current movement should accelerate even more. It would be great if the “manufacturing industry” does not remain the same as it was in the past, but instead changes to a manufacturing industry that suits the current times.Even traditional manufacturing industries can suddenly go global if they are combined with digital technology..
For example, there is a company in Kyushu called Chikusui Canicom. This is a company that manufactures agricultural machinery such as tractors, and the president works mostly in the United States. In the United States, for example, there are agricultural machinery manufacturers such as John Deere. However, John Deere is too large to solve the individual problems of American farmers.
Therefore, Chikusui Canicom said, “We’ll customize it ourselves,” and exported the machines made in Kyushu. This is possible with digitalization. When this happens, interesting small and medium-sized businesses in local areas will enter an era where they will say, “You don’t have to look at Tokyo anymore. Just go to the world.” I think this movement will accelerate next year.
I think more and more entrepreneurs in their 20s will emerge. I think many entrepreneurs in their 40s and 50s will become inspired by this.
The same goes for “new local movements.”Actually, I think Italy is a little ahead of Japan.. I think Japan’s benchmarks are actually Italy and Spain. Of course, both have issues such as financial problems and an aging population, butIt is a good role model for Japan in terms of how it successfully energizes the region.. Even within the same country, the northern and southern regions have different climates and features, and the food is delicious, which are similar to Japan. That’s why I’ve been to both several times in the past, but I’m thinking of going again in 2024.
BIJ Editorial Department Tokiwa
I’m surprised that you have such a bright outlook for 2024. I thought 2024 would be the end of the world (lol). When I watch the news, I keep hearing dark stories and bad stories about Japanese politics.
Of course there are many dark elements. After all, international politics is the biggest risk, and it continues to be very worrying. In Japan, I think many people have already given up on national politics (bitter smile).
BIJ Editorial Department Tokiwa
I’m definitely disappointed though (lol).
I have acquaintances who are politicians, and of course there are some talented young people, but there are also many bad ones. But you can leave it alone. My stance is that there are many wonderful people who have risen to the local chieftaincy level, so they should focus on improving their own regions.
BIJ Editorial Department Tokiwa
We may be at a turning point in an era where regional areas are becoming more vibrant and life is no longer concentrated in Tokyo.
Akie Iriyama:Professor, Waseda University Graduate School of Business Administration (Business School). He graduated from the Keio University Faculty of Economics and completed the master’s program at the same Graduate School of Economics. After working at Mitsubishi Research Institute, he received a Ph.D. from the University of Pittsburgh Graduate School of Business in 2008. From the same year, he became an assistant professor at the Business School at the State University of New York at Buffalo. Since 2013, he has been an associate professor at Waseda University Graduate School of Business Administration (Business School). Current position since 2019. His books include “What are management scholars around the world thinking now?” “The world’s most advanced management studies that you can’t learn in business schools” and “World-standard management theory.”
(Composition: Kiyoko Nagayama, serial logo design: Mio Hoshino)
Source: BusinessInsider
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