Second International Forum 2014 Key Takeaways

Some really interesting insights and ideas were shared during the 2014 Tokyo Forum.  Below are the key highlights and key takeaways from the debates and discussions!

Health is both good business and a moral imperative. B-schools must educate leaders on why good health is a good business model, and instill in students a culture of health as a responsibility on a par with corporate governance, financial propriety, and corporate social responsibility.

Global Best Practices are developing.  Business schools can be a platform to promote and disseminate best practices, which health systems around the world may or may not adapt as they see fit.

Current management systems have many issues and most do not appear to be sustainable. They reward those who work over time, a small percentage of individual “champions” who seems to provide the majority of an organization’s value.  There is a need to focus on health– in a holistic sense that includes individuals, organizations, and societies – rather than healthcare, which focuses on treatment that may or may not be effective or sustainable.

IT and health issues are converging.  There is a huge, currently unmet need for cross-disciplinaryawareness, programs, and experts.

The business of health:  how to sustainably manage what societies need and want.  A need exists to better measure and better analyze inputs and outcomes (despite the fact that no measurement is perfect).

Unit 1 “Healthy Employees, Healthy Corporations”

Moderators: Gérard de Pouvourville, ESSEC Business School; Robert Hansen, Tuck School of Business, Dartmouth College

  • The business case for corporations to care about employee health is a strong one: presenteeism, absenteeism, direct medical care costs, and attracting and retaining a desired workforce all contribute to the rationale.
  • Digitalization and intensification of exchange create increased pressure on employees and compromise their life balance, leading to major mental health issues companies cannot ignore.  Poor design of performance controlscan be expected to have an impact on self-esteem, and may contribute to a loss of a sense of work.  Psychosocial disorders are intimately linked to management study practices and leadership styles.
  • Business schools must include health issues of employees in their curricula through the identification of best practices and an increased awareness of the strategic importance of these issues.

Unit 2 “Technology and Management Innovations in Healthcare”

Moderators: Professor Ana Malik, FGV-EAESP; Professor Yunjie Xu, School of Management, Fudan University

  •  The pharmaceutical industrywill almost certainly have to change its organizational style because increase in prices is becoming too great for customers to bear. They have to find new ways of negotiating and sharing risk with stakeholders.
  • Biotech organizations can be an alternative to R&D, but they have to find the right balance between public funding and venture capital.
  • There is a need to shift from a“novelty orientation” to a “value orientation.” The novelty of the innovation is no longer as important asthe technology, which should not focus on what is the newest kind, but on what is the most effective.
  • Technology is a tool.  The focus should not be on the technology itself, it should be on the results for the patients.
  • Health care information systems should connect stakeholders such as physicians at hospitals, local clinics and they should be made accessible to patients with acceptable privacy considerations taken into account.

Healthcare technology:

  • Should follow progressive advancement, from administrative support, to data integration, workflow support to a comprehensive set of application tools.
  • Should focus on value creation. The value of healthcare technology is not only providing a competitive advantage, but also being able to serve a segment target faster, better, and more cost effectively (personalized care).
  • Implementation shall target measurable outcomes. As stated previously, technology should not be implemented for its novelty alone.

UNIT 3 “Challenges in Managing Healthcare: Who Pays for Healthcare and How Is It Supplied?”

Moderators: Professor Bernd Helmig, University of Mannheim, Business School; Professor Shigeru Tanaka, Keio Business School

  • Ageing is not a key driver of health spending growth, but technology, policy and regulation are drivers.
  • Health spending is likely to continue to grow as a percentage of GDP.
  • Suppliers of health care services have to cope with this new situation by implementing customer oriented strategies in order to survive in the long run. New forms of service delivery such as telemedicine and online diagnosis can be realized due to advances in technology.
  • The perfect health care system may not exist. There is almost certainly no one best health care solution that can ever be implemented globally. For this reason, it is important to continue with these discussions and share ideas and continue testing individual “best” solutions, so that the range of global best practices will expand.

For more detailed information about each of the sessions during the forum, please feel free to visit our website and download the 2014 Forum Executive Summaries.

More than just an annual forum, the Council on Business & Society  is an ongoing international dialogue – The Council Community helps bring together business leaders, academics and journalists from around the world. #CouncilonBusinessandSociety

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s