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Action Guidelines for Japanese Companies’ Management for Value Creation Formulated

October 4, 2019

In light of global trends and activities for international standardization of innovation management systems, the Ministry of Economy, Trade and Industry (METI) and the Innovation 100 Committee* jointly compiled Action Guidelines for Japanese Companies’ Management for Value Creation (hereinafter referred to as the “action guidelines”), a compilation formulated from the viewpoint of accelerating Japanese ‘private sector innovation.

1. Background and purpose

Japan considers it important to encourage companies to innovate for the purpose of utilizing new general-purpose technologies comprising the Fourth Industrial Revolution, such as AI, IoT, robotics, big data and distributed ledger technologies (blockchains), to the maximum extent possible, including toward improving productivity and economic growth.

Meanwhile, for existing organizations in any country, including large companies, mid-ranking companies and SMEs, it is highly difficult to create innovations, and to overcome this worldwide common challenge, the International Organization for Standardization (ISO) tackled efforts for designing international standards for innovation management systems from 2013. In July 2019, the ISO issued the international standards for innovation management systems as an outcome of discussions that brought together 59 member countries.

In light of this trend, METI and the committee formulated the action guidelines in line with the approaches taken in the international standards for innovation management systems (ISO56002), aiming not only to maintain the existing businesses but also to increase the number of companies that aim to change their conventional management to create novel innovations and take on new  challenges.

2. Details and key points of the action guidelines

The action guidelines present streamlined approaches, knowhow and other information that may help companies change their management in the future, focusing on: important actions to overcome challenges that companies often face in creating innovations (“Seven Questions and Twelve Recommended Actions for Business Operators”); outstanding efforts by leading companies; specific sections of ISO56002 to which companies should refer; and other topics.

*Note: The Innovation 100 Committee is a body providing business operators, who have passion for changing management and are taking actions for the purpose of seeking better approaches to encouraging their companies to innovate, with opportunities for exchange views on their innovation management in a free and vigorous manner. Upholding the passion that “Japan will become an innovations-oriented nation again if the number of business operators of large companies that advance innovation management reaches 100,” METI, WIL, LLC., and the Japan Innovation Network (JIN) have jointly been operating the committee since 2015, and the committee has held four rounds of discussions so far, bringing together 44 companies as members.

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