In a recent conversation, I had the opportunity to hear Peter Drucker discussing potential challenges faced by Japan:
- China, South Korea and other parts of the region are becoming increasingly competitive. For example, the products from several South Korean companies are given increasingly high ratings for quality – Japan used to be way ahead in this area.
- The Japanese ecomomic miracle was created by a workforce that was extremely motivated, hungry and driven. The new generation of younger Japanese workers may not have the same level of drive.
- I was amazed by the emotion behind the anti-Japanese marches when I was recently in China. Questions regarding what happened in World War II sill produce a lot of anger.
If you were an advisor to the Japanese government (or to large Japanese companies) – what suggestions would you have? Predict the economic future – what is going to happen in Japan?