The Japan Productivity Center and The Conference Board have made a combined force to tackle the issue of slow productivity which has been troubling both economies. On 12th April, both organizations hosted a forum together on the subject which featured business executives associated with each organization. The event was held in New York at the headquarters of The Conference Board. The event comprised of round-table discussions with high-ranked leaders in multiple industries of both Japan & U.S.
The President of The Conference Board, Steve Odland stated: “Achieving robust, widespread prosperity hinges on identifying public and private sector solutions that will kick-start – and ultimately sustain – productivity growth. Our forum brought us a step closer to reaching that shared goal, through dialogue among some of the preeminent thought leaders and business executives from the United States and Japan.”
Chairman of the Japan Productivity Center, Mister Yuzaburo Mogi mentioned: “We must create more value by using our efforts and ingenuity to pursue innovation and differentiation. Our discussions have brought us to a shared commitment to accomplish higher productivity.”
Specific steps were discussed by the participants in the forum in reference to improve the productivity of the businesses in addition to the extra guidelines that need to be considered. These included:
- Encouraging creativity in both knowledge-based & skill-based work
- Reconsider how productivity growth & digitally transforming can promote a worthy cycle that elevates the returns to society.
- Make optimum use of digital technologies for expanding digital transformation throughout the organizations & businesses.
- Implanting social & environmental sustainability values in services and innovative products to give maximum value to the stakeholders & shareholders.
- Digital transformation involves changing the work styles along with the work concept. Also, changing the proficiencies of individuals, knowledge and vital skills is part of the transformation.
A combined summary was developed by the two organizations of the topics and proceedings of the discussion as a part of the meeting.