Driving Growth Using ‘Practical Wisdom’: Japan’s Perspectives

The World Economic Forum and Deloitte report outlines a strategic framework for Japan to recover from the COVID-19 pandemic by transitioning toward a stakeholder-based economy. It advocates for 'digital leapfrogging' to solve societal issues, the adoption of purpose-driven management, and a shift in economic success metrics toward ESG goals. Internationally, it suggests Japan move from being a 'rule-follower' to a 'rule-shaper' by mediating transnational cooperation and strengthening global trade systems like the CPTPP and RCEP.

• Japan must address systemic challenges, including sustainability and climate change, with a sense of urgency to avoid returning to the 'old normal' and to overcome three decades of economic stagnation.
• Japanese business leaders are encouraged to adopt purpose-driven management and the philosophy of sanpō yoshi ('three-way satisfaction' between seller, buyer, and society) to generate long-term value and increase corporate value.
• The report suggests 'digital leapfrogging' to address Japan's weaknesses in digitalization, specifically proposing the use of telemedicine for the elderly, improved disaster detection, and online education to reduce regional inequality.
• To revitalize leadership and competitiveness, Japan needs to overcome its seniority structure and increase the presence of women, foreign nationals, and younger generations (Millennials and Generation Z) in managerial and boardroom positions.
• The report argues for a shift from shareholder-centric models to stakeholder capitalism, suggesting that economic success be redefined to prioritize quality-based growth and ESG goals over quantity-based expansion.
• Japan should transition from a 'rule-follower' to a 'rule-shaper' in global governance by reforming the World Trade Organization (WTO) and leveraging agreements like the CPTPP and RCEP to counter deglobalization and protectionism.
• Japan can act as a mediator for transnational cooperation, particularly as a hub for financial and technological exchanges amidst the power struggle between the United States and China.

APA

World Economic Forum (2021). Driving Growth Using ‘Practical Wisdom’: Japan’s Perspectives. http://www3.weforum.org/docs/WEF_RAG_Japan_Report_2021.pdf

Chicago

World Economic Forum. Driving Growth Using ‘Practical Wisdom’: Japan’s Perspectives. 2021. http://www3.weforum.org/docs/WEF_RAG_Japan_Report_2021.pdf.

Wikipedia

{{cite report |author=World Economic Forum |title=Driving Growth Using ‘Practical Wisdom’: Japan’s Perspectives |date=January 2021 |url=http://www3.weforum.org/docs/WEF_RAG_Japan_Report_2021.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldeconomicforum2021driving, author = {{World Economic Forum}}, title = {{Driving Growth Using ‘Practical Wisdom’: Japan’s Perspectives}}, institution = {World Economic Forum}, year = {2021}, month = jan, url = {http://www3.weforum.org/docs/WEF_RAG_Japan_Report_2021.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }