Diversity and Innovation: Empowering Women Fosters Innovation

Abstract

Women’s participation in labor market is required to utilize diverse variety of talent.In Japan, females are not participating in the labor market yet, especially in policy/decisionmaking positions although the legislation has progressed slowly. There are many potentials thatmight achieve a remarkable improvement in terms of innovation growth and productivity byincorporating the female labor force in the Japanese economy.Women’s active participation to economy is one of the pivotal economic growth strategies ofJapanese government in 2013. The government is aiming to attain the target of 30% of women’sparticipation in policy/decision making process by year 2020. However, only two categoriesattained that target number, pharmacists and member of the councils for national government.In order to win the objective in seven years, more positive actions will be needed.This paper explorers why females are needed in the Japanese labor market, how extent womenimprove corporate performance and economy, and how women’s diversity fosters productinnovation and process innovation. Materials used for analysis are related government papers,books, and journals. Some interviews with business executives were conducted.