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How Will Stakeholder Theory Evolve in the AI Era?
Today, I had the privilege of attending a lecture by Professor R. Edward Freeman, the founder of Stakeholder Theory, and asking him a question. One idea particularly resonated with me. A company creates value through its relationships with customers, employees, shareholders, partners, and communities. Profit is not the purpose—it is the outcome of value creation. Likewise, AI should not primarily be used for cost reduction, but for creating new value. At the same time, the di

Naoki Kadowaki
2 days ago1 min read


Turning Social Challenges into Management Resources.
Yesterday, I participated in the Multi-Sector Dialogue, jointly organized by Keizai Doyukai, the Japan Social Innovation and Investment Foundation , and the Impact Startup Association. The dialogue brought together business leaders, nonprofits, and impact startups with a shared goal: solving social challenges through collaboration across sectors. One idea stayed with me throughout the day. Social challenges are becoming management resources. For example: Refugees are no longe

Naoki Kadowaki
3 days ago2 min read


Is it enough for executives to remain merely decision-makers in the age when AI executes?
In the age of AI agents, I believe the role of management is evolving from making decisions on individual tasks to designing and supervising the entire system composed of humans and AI. As knowledge, analysis, and optimization become increasingly democratized by AI, the source of competitive advantage is also changing. The critical question is no longer simply how to make better decisions. Rather: What should be valued? What future should be created? How should capital be all

Naoki Kadowaki
6 days ago1 min read


Following My Feature in Business Times. The future is not something to predict. It is something to create.
The future is not something to predict. It is something to create. AI is rapidly democratizing knowledge, analysis, and optimization. As a result, I believe competition is shifting from efficiency to value definition. The question is no longer only "How can we do things better?" but increasingly "What future do we want to create?" and "What do we define as value?" This shift is one of the reasons why I founded VURA Capital Innovation Holdings. In Business Times, I discuss the

Naoki Kadowaki
Jun 271 min read


From the Competition of Efficiency to the Competition of Defining Value.
AI is making knowledge and analysis more accessible than ever before. For decades, companies have competed on one question: "How can we do things more efficiently?" But in the age of AI, I believe a different capability is becoming increasingly important: The ability to define what creates value and what kind of future we want to build. That ability itself is beginning to become a source of competitive advantage. At VURA Capital Innovation, we describe this shift through the

Naoki Kadowaki
May 291 min read


One thing I often tell my children: “If you have complaints, try doing it yourself. If you don’t do it yourself, don’t just complain.”
Recently, I’ve started to feel that this mindset increasingly applies to the AI era as well. For a long time, many of us lived inside predefined structures: companies, titles, roles, social expectations. And within those structures, we often ended up optimizing, adjusting, or complaining about the environment we were given. But AI is beginning to change that. As knowledge, analysis, and optimization become democratized, the question is no longer simply: “What should I do insi

Naoki Kadowaki
May 271 min read


What creates human value, when AI can optimize almost everything?
Imagine a world where everyone owns a supercar, and everyone has the same ultra-advanced navigation system. If speed and optimization become universal, then the real difference is no longer “how fast you drive.” It becomes: “Where are you trying to go?” In the age of AI, knowledge, analytics, and optimization are rapidly becoming democratized. I believe enterprise value may no longer come only from efficiency or optimization alone, but increasingly from: “How we redefine valu

Naoki Kadowaki
May 251 min read


What will humans spend their time doing, if AI eventually becomes capable of optimizing today’s businesses and operations almost instantly — and virtually for free?
What will determine enterprise value in the age of AI? VURA Capital Innovation released a new concept and management framework as one possible answer to these questions: “Brain Capital Management (BCM)” In the age of AI, knowledge, analytics, and optimization are rapidly becoming democratized. As AI increasingly functions as an “external brain,” I believe the core source of enterprise value will shift toward something fundamentally human: Empathy. Creativity. Exploration. At

Naoki Kadowaki
May 211 min read


Which future domains continue attracting strong expectations,even when markets are filled with fear?
VIX measures fear. VFI measures future expectation. VURA Capital Innovation released VFI (VURA Future Index) — a framework designed to visualize where future expectations and capital flows are beginning to gather in the AI era. VFI tracks four future domains: Longevity Planetary Sustainability Quality of Life Frontier One interesting trend: Even during periods when VIX rises sharply, the “Frontier” domain has continued showing relatively strong future expectations. In contras

Naoki Kadowaki
May 201 min read


Why I Founded VURA Capital Innovation
As the first article on the VURA website, I wanted to share the background behind why I founded VURA Capital Innovation Holdings Inc. Throughout my career, I have been involved in business transformation from multiple perspectives — as an engineer, in AI and consulting, in new business creation, and in management leadership. One thing I have consistently felt is this: Many companies possess value that has not yet been fully defined. In an era where AI is rapidly democratizing

Naoki Kadowaki
May 181 min read
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