NRI Papers
No.28   July 1, 2001
  IR-Driven Change Management:The Bridge Between Corporate Governance and Change Management  
Shinichi MATSUDA
       The significance of IPOs for Japanese companies today consists in enabling a corporation to establish its own management style that leads to self-sustaining growth, strengthening its ability to analyze its financial results by itself and to convince the market of its corporate vision through involvement in market mechanisms. However, companies intending to promote corporate governance often experience allergic reactions internally because of a management style that lacks the principle of commitment-one of the basic doctrines of the stock market. The purpose of IR-driven change management is to overcome such reactions and become the bridge between corporate governance and change management. IR-driven change management essentially means redesigning the internal meetings of a company to promote market mechanisms based on the principle of commitment with the help of actual IR activities. The concept of IR-driven change management shows how to manage a company in the era of direct financing. This will be a crucial element for Japanese companies to survive in the 21st century, where rapid transitions, specialization, and globalization are being accelerated.
Contents
I Corporate Governance Without Market Mechanisms
1 Japanese Stock Market: Market Mechanisms Have Begun to Work
2 Introduction of the New Management Benchmark (NMB)
3 Internal Allergic Reactions and Side Effects of the NMB
4 The Principle of Commitment
5 Creating Marketplaces to Ally Commitments
II IR-Driven Change Management
1 Departmental IR Activities Vis-A-Vis Management
2 Creating Marketplaces to Exchange Commitments
3 Evaluation of Commitments
4 Format for Analysis
5 Creating Committees to Ally Commitments
6 IR-Driven Change Management as the Bridge Between Corporate Governance and Change Management
III Concept for Revitalization of the Japanese Economy
1 Corporate Management in an Age of Direct Financing
2 Requirements in an Age of Rapid Transitions, Specialization, and Globalization

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