Business Spotlight: Olympus Part 1

Category: Business

Listening

Unlocking Word Meanings

Read the following words/expressions found in today’s article.

  1. microscope / ˈmaɪ krəˌskoʊp / (n.) – a device used to view very small objects clearly by using lenses that will make them look much larger
    Example:

    We observed the movement of some bacteria under a microscope.


  2. deity / ˈdi ɪ ti / (n.) – a god or goddess
    Example:

    Some people believe that nature is protected by deities.


  3. exalted / ɪgˈzɔl tɪd / (adj.) – relating to an important, high-ranking position
    Example:

    Mindy has been promoted to an exalted position in the company.


  4. rapid / ˈræp ɪd / (adj.) – happening very fast
    Example:

    There has been a rapid increase in our sales since we released our new products.


  5. gastrocamera / ˈgæ stroˈkæm ə rə / (n.) – a small camera placed inside the body to take images inside the stomach
    Example:

    The development of the gastrocamera helped doctors in detecting stomach cancer faster.


Article

Read the text below.

Last year, Olympus shocked the camera world with an unexpected reveal — they would no longer be selling cameras. To many, this pivot away from its most famous product may have seemed an unusual move, but for Olympus it was actually a return to basics.


The first Olympus products were not cameras but microscopes. Takeshi Yamashita founded the company in 1919 to create the first domestically manufactured microscopes in Japan. This company was named Takachiho Seisakusho after Mount Takachiho, the home of the celestial Shinto deities in Japanese mythology. By adopting such an exalted name, the company made its ambitions clear.


The company released its first camera, the Semi-Olympus I, in 1936, and cameras led the company to global recognition. To capitalize on this, in 1949 the company officially became Olympus. Mount Olympus, like Mount Takachiho, is the home of gods.


Olympus achieved rapid growth in the ’50s through ’80s and expanded into different fields, most notably creating the world’s first practical gastrocamera in 1950. This period also saw the birth of Olympus’s famous Pen series — thin, compact cameras that revolutionized the industry. (Jasmin Hayward)


To be continued…


This article was provided by The Japan Times Alpha.


Viewpoint Discussion

Enjoy a discussion with your tutor.

Discussion A

  • Many people think that the company’s decision was an unusual move. Despite this, why do you think the company decided to “return to basics” and go back to its original line of products? Discuss.
  • Olympus’s cameras led the company to global recognition. Do you think it was the right decision to stop selling cameras altogether? Why or why not? Discuss.

Discussion B

  • According to the article, the company made its ambitions clear by adopting the name Takachiho Seisakusho. Why is it important for a company to have a meaningful name like Takachiho Seisakusho? Discuss.
  • After gaining global recognition, the company changed its name to Olympus. Should a company change its name when it becomes famous globally? Do you agree with the company’s decision to change its name from a Japanese name to a Western name? Why or why not? Discuss.