Monday, November 21, 2011

No. 10: Develop your strengths (November 22, 2011)

Starting in Greece, the current economic instability is spreading very fast across boarders. Japan is no exception. However, it is noteworthy that some Japanese companies are enjoying good results and expanding business in these turbulent days. Fujitsu General recorded the highest profit in its history by concentrating its resources on the air-conditioner business. This company is famous as the company that commercialized the plasma TV for the first time in the world. However, it was not big enough to capture the market as a diversified consumer electronics maker, and it decided to focus on the air-conditioner business. Its state-of-the-art air-conditioning technology contributed to the splendid results. The same is true of Yokogawa Electric. This company specialized in measuring instruments, saying goodbye to diversification.

Toray records the highest profit in its history because its functional fibers featured by moisture absorption and thermal insulation are selling very fast. Komatsu, Japan’s leader in the heavy machinery industry, has been growing business with the help of GPS-based advanced follow-up services. Acquiring a big market share is also a big factor for successful companies. Kuraray has such as a high share of 80% in the films for flat-screen TVs. The company scored the highest profit. Thanks to the state-of-the-art technology, Fanuc also enjoys the highest profit in its history despite the fact that all its products are made in Japan in this high yen period.

The above companies remind us of the famous lesson Peter Drucker gave us. He emphasized the importance of developing your strengths.

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