Stories
Stories
01 Feb 2002
New Porter Prize Awarded in Japan
Topics: Competition-Competitive StrategyCommunication-ConferencesBusiness Ventures-Business Organization <p>On December 6, four firms became the first recipients
of the Porter Prize, a new award that recognizes innovation in
Japanese companies. Matsui Securities Co., Ltd., and Mabuchi Motor
Co., Ltd., were named the winners in the single-business company
category, while the Lens Product Group of Canon Inc. and the Eye
Care Company of Hoya Corporation placed first in the multibusiness
company business-unit category. Established by the Graduate School
of International Corporate Strategy at Hitotsubashi University
and sponsored by the Daiwa Institute of Research and Accenture
Corporation, the prize honors and highlights companies that have
maintained superior profitability by implementing unique strategies
based on innovation in products, processes, and management techniques.<br />
<br />
Matsui Securities was chosen for its ability to define “jobs
not to do” in its business strategy, while Mabuchi won for
specializing in small direct-current motors, a strategy that has
garnered it 50 percent or higher world market share for several
decades. Canon’s Lens Product Group was recognized for continuous
technological innovation. Hoya Corporation’s Eye Care Company,
which produces highly refractive plastic lenses, received the
prize because of its ability to achieve high profitability while
stressing customization.<br />
<br />
The award is named for <a href="http://dor.hbs.edu/fi_redirect.jhtml?facInfo=bio&facEmId=mporter" target="new window">Michael
E. Porter</a>, the Bishop William Lawrence University Professor
at Harvard and a renowned expert on competitive strategy and international
competitiveness. Winners are selected by a committee made up of
Japanese academics with expertise in competitive strategy from
institutions such as Keio University, Kobe University, Tokyo University,
and Hitotsubashi University. Prize winners gain public recognition
as industry leaders and become the focus of a case study series
that will be published in Hitotsubashi Business Review and other
periodicals.<br />
<br />
</p>
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