Building legacies: Lessons from Japan’s family-run empires
October 4, 2024
Participants from the Post Graduate Programme in Family Managed Business (PGPFMB) from batches 32 and 33, specialising in retail, embarked on a seven-day industrial visit to Japan, guided by Prof. Upamanyu Bhattacharya, Retail Elective Head. The Foreign Industrial Visit (FIV), an optional component of the PGPFMB programme, is linked to participants’ major electives, offering practical exposure within their specific industry and insights into the complexities of their chosen field from a global perspective.
The Japan FIV spanned Tokyo and Kyoto, focusing on family-run businesses and the cultural dynamics of Japanese retail. The group first visited S2K2 Holdings and Ambika Corporation, where they gained insights into the unique challenges and strategies for Indian businesses operating in Japan. Visits to Kamata Knives and Seiko Watches highlighted the core values that sustain Japan’s family-run enterprises, emphasising the importance of trust and long-term relationships, as well as the role of design and value addition as essential differentiators.
To deepen their understanding of Japanese business culture, the group participated in a traditional tea ceremony at Maikoya Tokyo. This experience revealed tea’s significance beyond a mere beverage; it serves as a means to relax, build trust, and maintain calm in professional settings.
Visits to retail brands such as Onitsuka Tiger, Tasaki, Komehyo, and Mikimoto provided insights into the Japanese approach to quality, design, and value addition. At 7-Eleven, participants observed how technology and meticulous process management enhance customer experience, assortment management, and brand differentiation.
The group’s visit to Pola Ginza, a premium skincare brand, offered a view into how Japanese businesses integrate high-quality ingredients and innovative technology to personalise skincare. Pola’s approach to involving consumers in product development reflected a strong commitment to consumer-centric strategies. At Hiyoshya Umbrellas, participants witnessed how traditional crafts endure through generations and participated in a hands-on umbrella-making session.
The final segment of the tour included the Nishijin Textile Centre, where participants observed Japan’s cooperative movement in textiles, preserving traditional craftsmanship. The tour concluded at Sasaki Sake Brewery, where they explored the sake-making process and saw firsthand how traditional brewing techniques are passed down within families.
Overall, this industrial tour highlighted the value of enduring relationships, quality craftsmanship, and innovation within Japan’s family-managed businesses, providing participants with valuable lessons for future ventures. Tune in to glimpses of the FIV to Japan:
SPJIMR’s Post Graduate Programme in Family Managed Business (PGPFMB) is designed to groom new entrants to family businesses to enable organic growth for themselves and their family businesses. It helps preserve and nurture the legacy of the earlier generations and leave one’s indelible mark on the family business for years to come. Conceived and launched in 1997, the programme is the pioneer in post-graduate family-managed business programmes in India. It has grown in strength, with 37 batches already having gone through the programme.