What's the buzz in Japan's business world? It's survival!
In a country where the population is shrinking and the economy has remained stagnant for the last two decades, what should a company do in order to survive?
Rakuten's CEO, Mr. Hiroshi Mikitani, says "Englishization" is the answer.
According to Mr. Mikitani, one of the richest men in Japan (based on Forbes list), the only way for a company to grow in Japan is to go outside Japan. Globalization is the key. Thus, proficiency in English is essential since it is the global business language.
His goal? Make Rakuten a household name in ten years.
What do you think?
Check out the clip from Reuters.
the buzz - unofficial news or information that is spread by people telling each other
survival - state of continuing to live or exist
stagnant - not changing, developing, or making progress = inactive
globalization - the process of making something such as a business international, or the result of this
key - very important and necessary for success
proficiency - a high standard of ability and skill
essential - important and necessary
household name - to be very well known
Sources:
http://www.youtube.com/ReutersVideo
http://edition.cnn.com/2010/BUSINESS/11/15/ilist.japan.englishization/?hpt=Sbin
http://www.japantoday.com/category/technology/view/rakuten-to-make-english-official-in-house-language-by-end-of-2012
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