The Sense of Business Leaders: Lessons from Fast Retailing's Chairman and Social Media Predictions for 2021

Kazuki

Hatched by Kazuki

Aug 25, 2023

4 min read

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The Sense of Business Leaders: Lessons from Fast Retailing's Chairman and Social Media Predictions for 2021

In the world of business, having a sense of strategy and vision is crucial for success. One individual who exemplifies this is Fast Retailing's Chairman, 柳井会長. His approach to business can teach us valuable lessons about what it takes to be a successful leader.

One key aspect of 柳井会長's leadership style is his ability to consider time as a crucial factor in strategic decision-making. He understands that strategy is not just about combining different elements but also about considering the timing and sequencing of these elements. This perspective highlights the importance of depth and breadth in strategic planning, with time playing a significant role in shaping the overall strategy. By always asking "so what?" and creating narratives around his ideas, 柳井会長 demonstrates a keen sense of intuition and vision.

Having a sense of business acumen goes beyond specific situations. A person with a strong sense can abstract complex situations into logical frameworks, allowing them to make informed decisions across different scenarios. This ability to distill complex information and retrieve it when needed is a hallmark of a leader with a sense of business. It involves understanding the underlying logic behind various situations and being able to apply that understanding effectively.

The concept of sense in business also encompasses the oscillation between concrete and abstract thinking. It is characterized by frequent and rapid movement between the two realms. This ability to navigate between the concrete and the abstract with speed and agility is a defining trait of leaders with a strong sense of business. They can zoom in on specific details when necessary and zoom out to see the bigger picture, enabling them to make well-rounded decisions.

Now, let's shift our focus to the world of social media and explore some predictions for 2021. One prominent trend expected to continue is the increase in both censorship and less censorship on social media platforms. While some platforms like Twitter may implement stricter policies, others like Parler may adopt a more lenient approach. This divergence in censorship practices reflects the ongoing debate about the regulation and freedom of expression in the digital realm.

Another prediction for 2021 is the rise of impulsive community purchases facilitated by social media. With the increasing integration of e-commerce and social platforms, it will become easier for users to make spontaneous purchases within their online communities. This trend benefits both community leaders and members, as it provides a seamless and convenient way to support and engage with one another.

Additionally, as social networks become more intimate and focused on specific interests or close-knit groups, features that enable implicit social sharing will gain popularity. Implicit social sharing refers to the automatic sharing of activities or updates without explicit user actions. This type of sharing fosters conversations and enhances the feeling of closeness among friends and family. The widespread adoption of auto-sharing is expected to grow, further blurring the boundaries between online and offline interactions.

In terms of social media monetization, the prediction is that audio social networks will outpace podcast companies in becoming billion-dollar companies. This forecast is based on the increasing popularity of audio content and the potential for innovative revenue models within audio-focused social platforms. Furthermore, traditional ad-based models are expected to decline in favor of paid social apps. These apps may offer premium features or exclusive content, charging users monthly fees ranging from $5 to even $5,000. This shift reflects the growing demand for personalized and high-value social experiences.

In conclusion, a sense of business is a valuable asset for leaders, enabling them to navigate complex situations and make informed decisions. Fast Retailing's Chairman, 柳井会長, exemplifies this sense through his strategic thinking and ability to abstract complex situations. Additionally, predictions for social media in 2021 highlight the evolving landscape of censorship, the rise of impulsive community purchases, implicit social sharing, the potential for audio social networks, and the shift towards paid social apps.

To leverage this knowledge and thrive in the evolving business and social media landscape, here are three actionable pieces of advice:

  • 1. Cultivate your sense of strategy by considering the timing and sequencing of your decisions. Understand the importance of time in shaping your overall strategy and make informed choices based on this perspective.
  • 2. Develop the ability to abstract complex situations into logical frameworks. Practice distilling information and understanding the underlying logic behind different scenarios. This skill will enable you to make well-rounded decisions across various contexts.
  • 3. Stay informed and adapt to the changing dynamics of social media. Embrace emerging trends such as impulsive community purchases, implicit social sharing, and the potential of audio-focused platforms. Explore innovative revenue models and consider how they can be applied to your social startup.

By incorporating these pieces of advice into your approach, you can enhance your business sense and capitalize on the opportunities presented by the evolving social media landscape. 2021 holds immense potential for those who can navigate these realms effectively, making it an exciting time to build and grow social startups.

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