Rising Global Challenges and the Role of Business Leaders
In today’s world, despite our best efforts, we are facing increasing instability. The ongoing pandemic and Russia’s invasion of Ukraine are just some of the pressing issues we must confront. As we deal with new health threats, work towards global cooperation, and tackle climate change, many of the solutions that worked in the past are no longer effective. It’s clear that as we approach a pivotal time in history, business leaders have a vital role to play in addressing these social challenges. They have the opportunity to make the world a better place through their companies.
In Japan, we are grappling with serious issues like an aging population, lack of diversity, and fewer innovations. Our national debt is high, and economic growth has stagnated. Given these difficulties, one might wonder what insights a Japanese business leader could share. However, Japan continues to be a significant player on the global stage, ranking as the third-largest economy in the world. Our strengths lie in advanced manufacturing, as well as in cultural exports like animation and cuisine.
This blend of challenges and successes highlights the necessity for business leaders to think carefully about the future. We have a crucial part to play in addressing social issues and creating value for society.
To support this effort, I want to introduce the Japanese concept of “Seikatsusha.” This term suggests that we are all multi-dimensional individuals. For instance, if someone were to ask me about my identity, I would say that I am the CEO of a company and a member of the Prime Minister’s advisory board. However, I am also a passionate Kendo enthusiast and a grandparent who loves shopping for gifts for my grandchildren. We all have roles beyond our job titles; we cannot be defined solely by demographics.
As “Seikatsusha,” business leaders should aim not just for traditional economic growth, but also for growth that enhances people’s security, health, and overall well-being. It is vital to think about the sustainability of both the Earth and human societies. The benefits of growth should be accessible to everyone. This aligns with another Japanese idea, “Bushido.” In my book, Bushido Capitalism, I describe Bushido as a moral code that emphasizes community well-being while balancing self-interest with a sense of altruism.
In Japan, the company SOMPO is making strides to tackle the global challenge of an aging population through its nursing care services. This sector is particularly demanding for both the elderly and their caregivers. My aim is to create a sustainable nursing care model that promotes healthy aging, a concept we refer to as “pin koro.”
Through advancements in digital technology, data utilization, and collaboration with various partners, SOMPO is developing innovative solutions across multiple fields. While the nursing care sector may not deliver significant short-term profits, our actions as “Seikatsusha” are directed at building a sustainable future and enhancing people’s well-being. We aim to demonstrate that addressing societal problems can also be profitable.
Today, stakeholders are urging business leaders to take a stand on social issues by leveraging their companies’ strengths. It’s essential to listen to their calls. Business leaders must strive to create a better future for everyone through their work. After all, the fate of our world affects us all.
