Question 3Describe how Mitarai's personality contributes to Canon's success.Please elaborate the answer and answer should not be less than 500 words.If you couldn't answer please don't reject, let others to answer Thank you in advance Fujio Mitarai of CanonFujio Mitarai, Chairman and CEO of Canon has turned around Canon's fortunes andmultiplied its net profit since becoming chairman and CEO at this global camera,printer and photostat machine maker. Mitarai has made many changes in Canon thatreflects his conscientiousness and openness to experience. To revitalise Canon heneeded to take bold steps by shutting down weak businesses and divisions andpushing employees to find ways to cut costs and for rewarding employees forincreasing sales and profitability.His openness to experience has served him well all his life. As a child who only knewthe Japanese language and culture, he longed to go overseas. After a few years inCanon Japan, he transferred to Canon New York where he served for 23 years,building the camera and copier business for canon in USA.Mitarai's openness to both the Japanese and the American ways of managing hasled him to be role model for other executives and he has been named one ofBusiness Week's "Best Managers". For example, consistent with American practices,he believes in merit pay to reward high performers and consistent with Japanesepractices, he values loyalty and lifetime employment. Rather than appoint outsidersto the board of directors, he prefers the contributions insiders can make. At the sametime he empowers auditors to play a more active role in corporate governance.Mitarai's openness to experience is pushing Canon in new directions. For example,he envisions by 2020, equipment used in medical fields will be a significant part ofCanon's business. Researchers in Canon are working with researchers in Japaneseand American universities to create medical imaging technologies and Mitarai hopesto create a major Research and Development centre in United States to develop newtechnologies and products.Protecting the environment is also important for Mitarai. He says, "We want to createa more environmentally friendly cycle for our products." Thus, Canon has built a newfactory in United States to make toners and cartridges so that cartridges will nolonger be needed to be shipped from Asia in ocean freighters that pollute theenvironment.(Source: adapted from George J.M, Jones G. R (2012) Understanding and managing OrganisationalBehaviour, 6th edition, Pearson Education, pg 46)

Personality of any individual can contribute to its business to the great extent. Executives with…

Answered: Describe how Mitarai's personality…

Describe how Mitarai's personality contributes to Canon's success. Please elaborate the answer and answer should not be less than 500 words.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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