DWD20200419

David's Time With Peter F. Drucker 2020.4.19 Similarly, the Japanese tried to protect the bulk of their business and industry by keeping the foreigners out while creating a small but exceedingly competitive number of export industries——and then providing these industries with capital at very low or no cost, thus giving them a tremendous competitive advantage. That policy too has failed. The present (1999) crisis in Japan is in large part the result of the failure to make the bulk of Japanese business and industry globally competitive. Strategy therefore, has to accept a new fundamental. Any institution——and not just businesses——has to measure itself against the standards set by each industry's leaders anyplace in the world. ——《Management Challenges for the 21st Century · Chapter2》(Peter F.Drucker,1999)