SoftBank Constantly ReThinks and Invents New Ideas
As read in the Southwest case,
taking a risk and setting oneself apart from the pack can have great reward in
the business world. Southwest is always looking forward and thinking how it can
stay one step ahead. It’s strategy is constantly being revalued and rethought
to expand the business.
SoftBank, a mobile
communications business and software wholesaler, began similarly to Southwest.
The company started slowly, then began buying up more and more companies. A company strategy for employees is to always
be thinking up new ideas and new inventions during the day.
“A company’s value is determined by challenge
and evolution. A company that only defends whatever it has achieved will not
grow bigger and stronger; it will only sink below an evolving world above
(Harner).” The CEO has always advocated a new way of thinking: he suggests
spending five minutes a day thinking up a new invention the world has never
seen before. This is a business practice he has instilled within the employees
at SoftBank. As unconventional as it sounds, this strategy helps the company
produce several new ideas and technologies each year.
the SoftBank’s annual report, “the
world of content and services is characterized by short lifecycles, and only a
tiny fraction of businesses succeed in it (ANNUAL REPORT). Thus, SoftBank
always needs to be flexible and willing to adapt to industry trends and
consumer wants. Especially in the internet realm, SoftBank must always be on
"ANNUAL REPORT 2013." What Are SoftBank's Medium and Long-term Strategies? SoftBank Corp. SoftBank, n.d. Web. 16 Apr. 2014. <http://www.softbank.jp/annual-reports/2013/en/ceointerview/q7.html>.
Harner, Stephen. "After Buying Sprint, SoftBank's Masayoshi Son's Vision: To Be The World's Number One Company." Forbes. Forbes Magazine, 14 Apr. 2014. Web. 15 Apr. 2014. <http://www.forbes.com/sites/stephenharner/2014/04/14/after-buying-sprint-softbanks-masayoshi-sons-vision-to-be-the-worlds-number-one-company/>.