Recognizing Strategy Innovation: Hitotsubashi ICS and the Porter Prize
Every autumn, the annual Conference on Competitiveness is a much-anticipated feature of Japan's business landscape. It is here that ICS Hitotsubashi awards the Porter Prize to selected Japanese companies that "have achieved and maintained superior profitability in a particular industry by implementing unique strategies based on innovations in products, processes, and ways of managing."
The award bears the name of Professor Michael E. Porter, the Bishop William Lawrence University Professor at Harvard University, a leading authority on strategy. Professor Porter has a longstanding interest in Japan, and has been connected to Hitotsubashi University for more than 20 years. Professor Porter was invited to be the keynote speaker at the inauguration of Hitotsubashi ICS in 2000, and since then, has devoted his time to multiple joint efforts. In deep appreciation, Hitotsubashi ICS established the "Porter Prize" in 2001 to honor Professor Porter's life-long dedication to the development of the theory and practice of competitive strategy.
Hitotsubashi ICS Dean Kazuo Ichijo offered opening remarks. Professor Michael E. Porter, in his talk, observed that as technology grows exponentially, service has become a big focus for most companies and can be the starting point of a strategic plan for a new business, as in the case of these four winning companies. Further, Professor Porter recommended that AI technology be placed in a key position when bridging a gap between tech-related and real-world business. Professor Emi Osono of Hitotsubashi ICS interviewed executives from the prizewinning companies about business creation and start-up: the stories, the struggles, the critics and the sufferers. Professor Ken Kusunoki of Hitotsubashi ICS too offered remarks, noting the importance of creating in an empty space for build a business strategy.
To close the Conference, Professor Takeuchi Hirotaka of Harvard Business School and Founding Dean of Hitotsubashi ICS, expressed his great pride and joy in this signature Hitotsubashi ICS event.