Many companies "talk" globalisation but are not taking the necessary steps to be a true global organisation. They are still overly focused on domestic markets instead of select emerging markets, especially in Asia, which are projected to have far greater economic growth rates than other similar economies.
One corporate imperative is to focus on your growth strategy. Options include not only organic growth but mergers and acquisitions (M&A), partnerships and strategic investments. With global M&A opportunities, merger integration activities by a skilled, experienced team will make the difference between value creation and value destruction.
As a group, Japanese companies lag behind other industrialized countries in respect to their investment in Asia, specifically in China. A much more aggressive approach is needed to fully participate in Asia's economic growth trajectory and access a new, fast growing middle class of Asian consumers.
PwC Chairman Bob Moritz talk to Reuters' Fred Katayama about how how to improve Japan's global competitiveness.