Mr Mitarai was lucky enough to inherit a firm with this kind of leadership, in a sector with high barriers to entry.
But for many, such issues pale against the idea of a world without "free" mobile maps, and Apple's entry into the sector is seen as a driving force for further innovation.
Melissa Bradley: In 35 years the social change sector has exploded from a fairly traditional sector led by an established few, to a vibrant, diverse and fast-changing sector with low barriers to entry.
We wouldn't hesitate to offer our recommendations of investing in a second BD deck -- after all, you never know when you'll need one for travel or loan -- but there's a whole heap to choose from in the entry-level sector.
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In addition, barriers to entry in the tower sector are high.
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Watson explains that what was once a niche sector is now seeing barriers to entry fall, but markets have yet to realize that the underlying value of pipeline assets is substantially higher than the market value of those companies.
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The acceleration of vaccine development through cloning has broken down the sector's traditionally high barriers to entry, which has attracted the attention of pharmaceutical companies.
He said that free current accounts provided a barrier to entry into the UK retail banking sector because this core product "is usually given away for free", prompting banks to try to make profits by pushing other products.
Lower barriers to entry are associated with a smaller informal sector.
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But India's retail sector is dominated by small corner shops whose owners oppose the entry of foreign retailers that Mittal would like to tap into.
To put it simply, they decide to stay informal because the total costs of entry, operation and exit associated with joining the formal sector are greater than the potential benefits.
But challenges include the long-awaited shake-up of China's telecoms sector, which could see the market becoming fiercely competitive with the entry of fixed-line and broadband providers China Telecom and China Netcom.
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