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An Examination Of How The 'type' Of Fujio Mitarai Has Influenced The Performance Of Canon In The Past Ten Years.

3807 words - 15 pages

An Examination of how the 'type' of Fujio Mitarai has influenced the performance of Canon in the past ten years.1. Executive SummaryThis essay examines the impact of management type on the performance of the firm. The case study of Fujio Mitarai, former president of Canon, is used by the authors to determine whether the type of management is influential in the success of a company.2. IntroductionStudies of modern firms indicate that companies are run in the interests of the managers and it is often management who are the stakeholders that govern the control of the firm.With this precedent widely accepted in the economic environment, the 'type' of management becomes increasingly important to analysing the performance of the firm.This essay will strive to analyse the paradigm of management 'type' on the success of the firm using the case study of Canon in the past 10 years during the tenure of Fujio Mitarai, former CEO and President of the technology company.The authors of this essay will offer a framework of facts and assumptions before leading the reader into an analysis and conclusion followed by a brief prognosis of the continuing performance of Canon.3. FactsInitially, it is important to establish some basic facts about Fujio Mitarai, and Canon at the point when he became president, in order to provide a framework in which to view our analysis.3.1 Fujio MitaraiIn 1966, Mitarai was sent to the United States to develop Canon's business, continuing the strong family management ties that had developed since Matarai's uncle, Takeshi Mitarai founded the business. It was during these formative years that Mitarai's 'type' began to develop. In an interview with Fortune, he relates his first experience with the IRS, who were examining the unusually low profits. As Mitarai explains, 'That's when it dawned on me…the primary purpose of any business is to make a profit.' (Fortune, January 2006). Canon's focus had traditionally been one of innovation, and driving at high sales volume; strong characteristics of a firm following a Baumol style model, with profit not being one of its key foci.Thus, when Mitarai was recalled to Japan to head Canon's administrative division in 1989, and more importantly when he was elevated to President, Mitarai launched a series of cost cutting initiatives in order to boost profits, which we shall discuss later.In 2006, Mitarai became chairman of the Keidanren lobby. This lobby is a hugely influential federation of Japanese business, the position of chairman represents a prestigious honour for Mitarai, and true recognition of his influence on the business community in Japan. Despite early signals from Mitarai that this position would not limit his role in the company, in May 2006 it was announced that he would no longer be President of the company, becoming Chairman and CEO, with Tsuneji Uchida assuming the operational control as President and COO. Effectively, this represented an elevation of Mitarai away from the...

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