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We received the first Porter Prize sponsored by Hitotsubashi University Graduate School of International Corporate Strategy (ICS). The Porter Prize was established to recognize companies that have achieved and maintained superior profitability in a particular industry by implementing unique strategies based on innovations. The name of the award is derived from University Professor Michael E. Porter, Harvard Business School. This Prize is awarded to (A) companies having single buisiness unit, and (B) companies having plural business units. We were awarded for (A), together with Matsui Securities Co., Ltd.
Why the first Porter Prize was awarded to Mabuchi Motor?
Because we have been the No.1 Company in the world of small DC motor over a half century with Standardization Strategy.
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What is Porter Prize ?
(quoted from materials issued by ICS "The Porter Prize"Organizing Committee)
Objective
The Porter Prize was established to recognize outstanding Japanese companies and to enhance the competitiveness of Japanese industries. Japanese companies enjoyed substantial cost and quality advantages for many years, triggered by a global revolution in operational effectiveness, which they led in the 1970s and 1980s through practices such as total quality management (TQM) and continuous improvement (KAIZEN). But in recent years, the limits of the current model of competition have become increasingly evident. Today, Japanese companies must move beyond just quality competition to competing on strategy and innovation. Japanese companies will need to develop distinctive strategies that result in true profitability in order to regain the nation's competitiveness.
What makes the Porter Prize different from other awards?
The Porter Prize will be awarded to Japanese companies and business units that have competed successfully using a distinctive strategy. Since the essence of strategy is doing different things from others, the prize will recognize those companies and business units that have deliberately chosen to compete in a distinctive way in a particular industry by delivering a unique value proposition, based on innovations in products, processes, and methods of management. This singular focus on strategy and innovation is what sets the Porter Prize apart from the other awards presented in Japan.
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