Abstract
This chapter sets out how a renewed purpose for business operations in the context of digital transformation does not merely involve maximizing shareholders' benefit but also achieving benefits for all stakeholders and embracing technological change. It focuses on how Japan has been reforming its labor market and attempting to embrace digital technologies. The DX involves a three-step process of digitization, digitalization, and digital transformation. Aoyama notes that DX requires organizational transformation to focus on customer satisfaction using AI, enabling competitive advantage. Senior management needs to be closely involved and take a decisive leadership role in the transformation to succeed with DX. The competitive position of the Japanese manufacturing industry has decreased over the last few decades. It highlights the critical problem that the shortage of ICT human resources presents in Japan, given the context. Fujimoto suggests the economy after Covid-19 depends on sustainability, digital, and globalization. .
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