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Libraries ARCHIVES Innovation Performance, Policy, and Infrastructure: A Comparison of Japan and the U.S. By OF TECH' oycC Tomoko Oshi JUN 1 B.A. in Business Administration Aoyama Gakuin University, 1992 LiBRARIES SUBMITTED TO THE MIT SLOAN SCHOOL OF MANAGEMENT ARCHIVES IN PARTIAL FUFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION AT THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY JUNE 2012 © 2012 Tomoko Oshi. All Rights Reserved. The author hereby grants to MIT permission to reproduce and to distribute publicly paper and electronic copies of this thesis document in whole or in part in any medium now known or hereafter created. Signature of Author: MIT Sloan School of Management May 11, 2012 A Certified By: U Michael A. Cusumano SMR Distinguished Professor of Management & Engineering Systems MIT Sloan School of Management Thesis Supervisor Accepted By:_______ t BStephen J. Sacca Director, Sloan Fellows Program, MIT Sloan School of Management 1 Innovation Performance, Policy, and Infrastructure: A Comparison between Japan and the U.S. By Tomoko Oshi Submitted to the MIT Sloan School of Management on May 11, 2012, in partial fulfillment of the requirements for the degree of Master of Business Administration ABSTRUCT With flagship corporations in Japan struggling to complete a highly globalized market against increased competition from the US and Asia, the Japanese government has been striving to increase the competitiveness and improve the infrastructure for innovation. In order to regain its standing in the world market, the US government has also been stepping up its efforts to increase opportunities for innovation and strengthen critical partnerships between academia and the private sector. The different approaches taken will be analyzed in terms of their efficacy and ability to convert research into product development and, ultimately, commercialization. This thesis will explore the nations and companies that are seen as innovative in order to understand the critical factors for success. Also, the drivers of innovation will be looked at in detail and then applied to both a Japanese and US context. As the government plays a fundamental role in fostering innovation, the Japanese public sector's contribution and the US government's approach will be looked at in detail and then compared and contrasted in order to decipher the most effective policies for each country. Additionally, academia's role in promoting innovation will be highlighted, with MIT and Tokyo University acting as key examples for the ability of academic institutions to bridge the academic and business worlds. From the comparisons of the roles of academia and government in both the US and Japan, several recommendations will be made. These will center on the US's approach to provide a robust framework in which innovation can thrive, which is contrast to Japan's approach, which relies more on government funding for R&D to quasi-governmental research institutions. The addition of the most successful components of strategies employed in the public sector and in academia in the US to Japan's current approach may provide improve collaborations across sectors and enhance the environment for innovation to thrive. Thesis Supervisor: Michael A. Cusumano Title: SMR Distinguished Professor of Management & Engineering Systems MIT Sloan School of Management 3 Acknowledgements As I worked on this thesis as a member of MIT Sloan Fellows Program in Innovation and Global Leadership, the professors and colleagues of the Class of 2012 all played a pivotal role in helping me to gain a broader perspective and enhance my academic experience this year. I would like to extend my sincere thanks and appreciation to many individuals: Professor Michael A. Cusumano for his superb direction of my thesis and his assistance throughout my research activities, which were always decisive, straightforward, and supportive. Ms Kerianne R. Panos, President of MCML Consulting Services, LLC, for her enormous support in working with me to develop and edit my thesis and the sharing of her cross-cultural and entrepreneurial perspectives. ProfessorEzra F. Vogel, Harvard University, for providing me the opportunity to interview him and sharing with me his insightful perspective on Japanese business leaders. ProfessorHirotaka Takeuchi, Harvard University, for providing me the opportunity to interview him and sharing his insightful perspectives on the relationship between academia and private sector in Japan. Mr. Stephen J. Sacca, for his superb efforts in coordinating the Sloan Fellows Program. Finally, I would like to thank my Colleagues in the Class of 2012, MIT Sloan Fellows Program in Innovation and Global Leadership, for their support and encouragement as well as their insightful opinions and comments that truly broadened my perspective and outlook. Tomoko Oshi May, 2012 Boston, Massachusetts 4 Table of Contents Introduction . 7 Chapter1. Is U.S. the Most Innovative Country9 ... .. .. .. .. ... 10 11 W orld's M ost innovative Companies.......................................................................... 10 1.2 Which Countries are the Most Innovative?.................................. ..... ... ...................... 14 1.3 International Comparison of Innovation Performance.................................................. 16 1.4 M easure the Success of Innovation............................................................................... 24 1.5 Drivers of Innovation ................................................................................................... 26 Chapter2. Japanese Innovation Policy.............................29 2.1 Science and Technology (S&T) Basic Law................................................................. 29 2.2 Current Innovation Implementation System................................................................. 31 2.3 Master Plan for the Advancement of Science and Technology .................................... 33 2.3.1 Human Resources Policy in Japanese Innovation ................................................. 34 2.3.2 R& D policy of Japan ............................................................................................. 37 2.3.3 Policy for Entrepreneurial Environment/Ecosystem in Japan................................ 41 2.3.4 Policy for Commercialization of Science and Technology in Japan..................... 42 Chapter3. The US Innovation Policy............................45 3.1 A Strategy for Am erican Innovation............................................................................. 45 3.1.1 Human Resources Policy for the US Innovation.................................................. 47 3.1.2 R & D PolicyoftheU S .......................................................................................... 48 3.1.3 Policy for Entrepreneurial environment/ecosystem in the US ............................... 53 3.1.4 Policy for Commercialization of Science and Technology in the US................... 55 5 Chapter4. Differences in Japan and the US's Innovation Infrastructure.... 62 4.1 Policy of Human Resources to lead innovation .......................................................... 62 4.2 Effective funds funneled into R&D ............................................................................ 68 4.3 Policy for Entrepreneurial environment/ecosystem ...................................................... 73 4.4 Policy for the Commercialization of Science and Technology.................................... 76 4.4.1 MIT Entrepreneurial Ecosystem............................................................................. 78 4.4.2 Division of University Corporate Relations in The University of Tokyo .............. 81 Chapter5. Conclusion..................................................................................... 84 Bibliography ...........................................................................................-....---....... 89 6 Introduction On December 24, 2011, the Japanese Government announced its "Strategy for the Rebirth of Japan," which recognized that Japan has continued to face the pressing issue of "the lost decades," during which the country has dealt with the Great East Japan Earthquake, a nuclear power plant crisis, appreciation of the yen and worldwide volatilities in the financial markets. The term "the lost decades" has been widely used in reference to Japan by economists and policy makers around the world. For Japan, the value lost -- and competitiveness lost-- during those decades in terms of its economy has been tremendous. This report was published just six months after the announcement from the Japanese Government estimating the extent of the damage from the Great East Japan Earthquake, which totaled almost $211.25 billion, of 4% of Japan's GDP'. To reinvigorate the Japanese economy and restore competitiveness, the report mentioned that "Japan needs creative innovation rooted in the global economy and a future focused on a renewed economic/industrial structure rather than a past-looking perspective that is bogged down with the systems and policies that were once effective. It is imperative to recognize that there is a far greater risk in doing nothing than there is in embarking on something new." [Cabinet Officethe Government of Japan, 2011] In the past, Japanese companies created by prominent leaders, such as Sony (Masaru Ibuka and Akio Morita), Honda (Soichiro Honda), TOYOTA (Kiichiro Toyoda), certainly left their footprint on the history of global business as achievers/creators of highly
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