M-Lab’s founding goals were to infuse an innovation mindset into Mitsubishi Corporation; to

catalyze new business opportunities; and to enable a dialogue between Japanese business
and Silicon Valley. M-Lab housed representatives from each of Mitsubishi Corporation’s
verticals who were joined by executives from other prominent Japanese corporations. While
M-Lab was still early in its history, its leader, Tsunehiko Yanagihara, was pleased with its
progress: the ecosystem was fertile with research on cutting edge technology; resident
executives collaborated across industries on a daily basis; several investments and proof of
concept projects were underway; staff had launched an innovation learning program; and
soon, an on-site retail-tech accelerator would welcome its first participants. As some of the
projects born out of M-Lab now evolved to commercial businesses, Yanagihara saw yet a
new role for M-Lab – that of startup advisor. How might he harness Silicon Valley insights on
scaling technology ventures and feed them back to the young ventures made possible by M-
Lab? And how might he help those now responsible for implementing and executing at
these new businesses apply these learnings to the hurdles they faced?

How to build continuous engagement to bring out entrepreneurship

Entrepreneurial spirit is a mindset. It’s an attitude and approach to thinking that actively
seeks out change, rather than waiting to adapt to change. It’s a mindset that embraces
critical questioning, innovation, service and continuous improvement. “It’s about seeing the
big picture and thinking like an owner
To me, an entrepreneurial spirit is a way of approaching situations where you feel
empowered, motivated, and capable of taking things into your own hands. Companies that
nurture an entrepreneurial spirit within their organization encourage their employees to not
only see problems, solutions and opportunities, but to come up with ideas to do something
about them
The employer and employees are both responsible for maintaining an entrepreneurial spirit
as the company grows. Here’s how:
Think like an owner. Employees should feel empowered to make decisions--and employers
should let them.
Champion all ideas. Since everyone is tasked with thinking like an owner, when an
employee presents an idea, it’s important that their boss and co-workers not shoot it down
immediately
As a hiring manager, only recruit those who have an entrepreneurial spirit
Minimize the rules
Keep a “Crazy Ideas” file. As an employee, never be afraid to offer an idea—even if it seems
“crazy.” (You never know—the idea might be useful later on!)
Give people the opportunity to drive. If a team member comes up with an idea that may
not be part of their “scope of responsibility,” help connect them with the right teams and let
them bring their ideas to life
Create a recognition program that rewards people for thinking like an entrepreneur
Try to work with colleagues in different departments
Always communicate
Create a culture of questioning. Questions fuel the creative process and entrepreneurial
mindset
10 ways an organization can encourage entrepreneurship
1. Develop a statement to encourage entrepreneurship
2. Create a bond between employees and the company
3. Celebrate mistakes
4. Promote 'intrapreneurship'
5. Pursue passions in and out of the company
6. Entrepreneurship is a mindset
7. Recognize and reward
8. Build personal brands
9. Avoid micromanaging
10. Space, time, and stability

How to learn and grow through experimentation before the traditional mindset made it
necessary to stabilize them to succeed at all cost?

Strengths are the firm's capabilities and resources that it can use to design, develop, and
sustain competitive advantage in the marketplace

- First mover advantage in the increasingly crowded market place. The new products are
rapidly increasing Mitsubishi Corp. market share in the Retail (Department & Discount)
industry.

- Track record of innovation - Even though most players in the Services strive to innovate,
Mitsubishi Corp. has successful record at consumer driven innovation.

- Success of new product mix - Mitsubishi Corp. provides exhaustive product mix options to
its customers. It helps the company in catering to various customers segments in the Retail
(Department & Discount) industry.

- Market Leadership Position - Mitsubishi Corp. has a strong market leadership position in
the Retail (Department & Discount) industry. It has helped the company to rapidly scale new
products successes.

- Brands catering to different customers segments within Retail (Department & Discount)
segment - Mitsubishi Corp. extensive product offerings have helped the company to
penetrate different customer segments in Retail (Department & Discount) segment. It has
also helped the organization to diversify revenue streams.

- Diverse Revenue models - Over the years Mitsubishi Corp. has ventured into various
businesses outside the Services sector. This has enabled the company do develop a
diversified revenue stream beyond Services sector and Retail (Department & Discount)
segment
Opportunities are potential areas where the firm chan identify potential for - growth,
profits, and market share.

- Lowering of the cost of new product launches through third party retail partners and
dedicated social network. Mitsubishi Corp. can use the emerging trend to start small before
scaling up after initial success of a new product.

- Rapid Expansion of Economy As the US economy is improving faster than any other
developed economy, it will provide Mitsubishi Corp. an opportunity to expand into the US
market. Mitsubishi Corp. already have know-how to operate into the competitive US
market.

- Increasing customer base in lower segments - As customers have to migrate from un-
organized operators in the Services industry to licensed players. It will provide Mitsubishi
Corp. an opportunity to penetrate entry level market with a no-frill offering.

- Lower inflation rate - The low inflation rate bring more stability in the market, enable
credit at lower interest rate to the customers of Mitsubishi Corp.. This will increase the
consumption of Mitsubishi Corp. products.

- Local Collaboration - Tie-up with local players can also provide opportunities of growth for
the Mitsubishi Corp. in international markets. The local players have local expertise while
Mitsubishi Corp. can bring global processes and execution expertise on table.

- Increasing government regulations are making it difficult for un-organized players to

operate in the Retail (Department & Discount) industry. This can provide Mitsubishi Corp. an
opportunity to increase the customer base.