In the 17th Century Masatomo Sumitomo opened a medicine and book shop in Kyoto, Japan and as time went on the busines grew. The Sumitomo Group today comprises numerous businesses specialising in banking, mining, electronics, cement and chemicals and as 2010 commences, the President and CEO of Sumitomo Corporation, Susumu Kato, shares his view of the future which clearly builds on the influences of previous generations.
“Our survival is thanks to the weight of the trust that our predecessors have built up, along with their unstinting efforts at innovation, and I feel deep gratitude and respect for their accomplishments.”
“A business can build up its history only with the backing of trust; at the same time, we must remember that conditions change as history progresses, and those companies that neglect their own innovation are eventually driven from the playing field.”
“It is our responsibility to take the trust and the spirit of innovation that the Sumitomo Group as a whole has built up over its 400-year history and pass it on to the next generation.”
“I have renewed my own personal determination to create new value by continuing to reform myself, preserving our foundation of trust and maintaining a spirit of sincerity and dedication, as those who went before us did. It is my dream that Sumitomo Corporation will as a company whose reason for being is recognised by society.”
“I see the next ten years as being the period for laying the foundation in preparation for the next hundred years and recognise that some of our earlier models of success may no longer be applicable, and we will find ourselves tackling challenges in new and unknown fields; also, there may be times when we need to bid farewell to the past. It will certainly not be easy, but we must avoid complacency and be ready to endure present hardships and do what needs to be done now for the sake of future happiness.”
“As we start the year 2010, let me convey three points-which are basic, but which we need to bear in mind as we continue to manage our business:”
1 - Don't be afraid of risks
“In any sort of activity, it is necessary to have courage and not fear risks when undertaking something new. Of course it is essential to analyse the risks carefully, but we need to have a mind-set that views them not as threats but as opportunities.
In a time of turbulent change like the present, one could even say that there are risks involved in not taking risks. When considering potential activities, let us not just point out the problems and list reasons why something cannot be done; instead, let us have a strong "can do" spirit, think of how we can succeed, and act accordingly.”
2 - Remember to learn with humility
"The great inventor Thomas Edison is quoted as having said, "We don't know a millionth of one percent about anything." Even in fields where we excel, there are bound to be things that we do not know. So let us take care to maintain a humble posture, reminding ourselves, "I may just think I know this," and "I still have a lot to learn." Self-confidence is completely different from overconfidence and arrogance. Take an objective view of yourself, and never forget the spirit of humility that allows you to learn from anybody, anywhere.
I myself will continue to place importance on this posture of learning with humility-always maintaining a respectful attitude toward others and listening attentively to what they say."
3 - Be enthusiastic!
“I enjoy reading historical novels, and find that at turning points in history there are always figures who have hearts burning with enthusiasm and who play a major role. This applies within our own company as well. The valiant efforts and struggles of our predecessors were involved in the birth and fostering of the businesses that have continued to this day. In order to accomplish something big, of course it is important to come up with a corporate policy and to make appropriate organizational arrangements.
But there is no mistaking the fact that what actually makes things move is the enthusiasm of individual employees working on the front lines. The lead actors are each of you working as individuals in your respective positions”
“I hope that all of you will share the enthusiasm and lofty spirit of laying the foundation for the next 100 years at this historic juncture, and that you will boldly tackle the challenges of building up new businesses.”
