My answer to this question is management skill. I believe that they already have had ability to compete with their rivals. But to sustain their business, it’s not good enough. Management skill plays an important role. I’ll talk about why I think so by using two points.
First, they need to have strong leadership to manage their teams. More or less, they definitely need to work as team by hiring some employees or large number of employees. For example, Mr. Ibuka who is a founder of Sony corporation. He established electric-appliance maker with just twenty people. After sixty years later, the company had grown into huge company with twenty thousands employees. He issued the basic philosophy related management. He emphasized like this. “Do not pursuit just making profit. But think customer’s benefit over as the first priority”. This idea has been penetrated into every employee. It’s no exaggeration to say that his marvelous leadership led this company to one of the world's largest multinational conglomerate.
Second, they need to have socializing skill. Literally, they are faces of their companies. They need to build a good relationship as representative with their customers. As is often the case of Japanese, when it comes to communication skills, they come up wanting. Japanese are always silent participants in meeting and party. If they fail to enhance their credibility, their business would be also at stake. For example, I’ve accompanied one of the executives of the company I work for on an overseas trip. He handled day and night parties in spite of great age. He was good at harmonizing. Since then, I’ve gotten my perspective that those who lead company need socializing skill.
In conclusion, I believe that management skill such as leadership and socializing is vitally important to entrepreneurs.
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