Meiden Group Innovation
The Need for Innovation
Modern-day corporate operating environments are experiencing change at unprecedented speeds, leading to the emergence of various structural challenges and risks which include the following:
- 01Acceleration of market changes and obsolescence of existing business models
- 02Human resource immobilization and rigid organizational structures
- 03Rapid technology advances and delays in technology applications
Amid transformations and advances in customer needs, competitive environments and technologies, various industries are undergoing major change. At the Meiden Group, we understand merely adapting to changes as they occur will cause us to fall behind, which is why we must become an organization that takes the initiative and proactively creates change. We pursue innovation activities for purposes of cultivating the capabilities needed to drive change on our own so that we will survive and continue to thrive and grow as an organization in the coming years.
The Meiden Group’s Approach to Innovation
Since 2020, Meidensha has been pursuing innovation activities for the Meiden Group. Through these activities, we have established our own definition of “innovation” and our ideal version of that concept.
Meidensha’s Definition of Innovation
Meidensha’s Ideal Innovation
Innovation Activities through the MAST Project
The MAST Project is Meidensha’s vehicle for realizing ideal innovation activities. “MAST” is an initialism formed by “Meidensha” (M) and the Japanese words/phrases ashita o (A, meaning “for tomorrow”), sozo suru (S, meaning “create”) and kangaeru (T, as this word means “think”). In addition, it also takes on the meaning of “mast” as in a ship’s mast, conjuring images of leading innovation activities while overcoming rough seas along the way. The MAST Project is carried out on a Company-wide basis, and in terms of new business development activities, it serves as a venue for people who take on the challenge of innovating to come together and pursue collaborations between people and various knowledge through dialogue.
MAST Project Action Policy
The MAST Project adopts an initiative-based format which brings together people involved in all types of endeavors, including those pursuing specific project themes and their support and collaboration partners, to ensure that the project serves as a venue for everyone who takes on the challenge of innovating. It facilitates connections between people involved in shared project themes, provides a place for them to inspire and encourage one another, and drives efforts toward attainment of each project’s overarching future vision. Furthermore, it promotes the inflow of diverse knowledge and technologies to supplement those already available to each participant or group. In these ways, through technological and business development, the project aims to foster stronger human resources. The project brings various outside parties into these endeavors, and defines all people therein who strive to actualize their dreams as “innovators,” encouraging them to pursue their own, individual challenges while spreading this type of mindset among as many people as possible. The MAST Project has three basic policies, as described below.
Innovation Measures
Measures for “Co-Creation and Exploration”
Our “Co-Creation and Exploration” policy entails proactively sending to the outside persons who are pursuing innovation, connecting with customers and members of partner organizations, and pursuing discussions for purposes of communicating Meidensha’s thinking and fostering mutual understanding to come up with new ideas. In addition, we work with venture capital funds to track the latest trends among startups and in the market, and consider new business ventures together with the startups they fund.
Measures for “Pursuit of Themes”
Our “Pursuit of Themes” policy involves the pursuit of activities based on bottom-up idea proposals that have potential to crystallize into future business. Meidensha accepts these themes from two general entry points: the first is a contact point within the Meiden Group through which any one can submit ideas, and the second is through winning of awards in the “MEIAN Challenge” idea contest, which is held for purposes of sharing ideas. A “Phase Gate” system is in place to propel incoming ideas, serving to assess the appeal points and progress of each theme while driving them toward the goal of business project establishment.
Example of Phase Gate System
Measures for “Innovation Culture and Environment Cultivation”
Innovation culture and environment cultivation entails creating opportunities to connect people and bring together knowledge as means of more strongly promoting innovation activities. One specific way of achieving this is the annual “MEIAN Challenge” idea contest, wherein individual and team entrants communicate and share their goals and visions. Enthusiastic Meidensha employees take part every year, and the event serves not only as an opportunity for them to challenge themselves in new ways, but also as a way to discover human resources who have innovation-oriented mindsets. Furthermore, in our pursuit of themes based on bottom-up idea proposals, we place high priority on bringing like-minded people together and gathering new knowledge, which is why we plan regular events and gatherings that serve as venues for coworkers to meet and talk with one another, and also with members of universities and other organizations outside of the Company.
Gatherings to facilitate exchanges among fellow employees, and between employees and people from universities and other outside organizations
Future Vision for Meiden Innovation Activities
The Meiden Group’s future vision for innovation activities can be split into two parts: (1) achieving corporate growth through new business, and (2) fostering of self-driven challenge culture. Through innovation activities, participants can pursue business development that realizes corporate growth through new business creation based on dreams such as reaching ¥10 billion in sales for their business endeavor or realizing major change for business models. At the same time, we will engage in organizational development to foster a corporate culture wherein new business born from within is the norm and people can engage in mutual dialogue about their future dreams and embark on those challenges anytime.
