Wednesday, January 28, 2009

Spirits in Recession

IMF announced their expectation of world economy of 2009 to be largely negative. They say it would be worst year after the world war II in some countries. Management in recession is inevitable for any company owners. This IMF news reminded me of a one person. Konosuke Matsushita was the founder and president of "Panasonic". He has been well respected as one of most successful Japanese business person. People call him "God of Management" in Japan.

Due to his fathers situation, Konosuke could not finish even elementary school. He brushed up his own business and studied technical knowledge all by himself through his experience being used by so many rich people. He invented attachable and detachable light valve socket. He is also one of most innovative person in Japanese history of science and technology.

It is impossible to talk about him in one article. Brief background introduction took up maybe more than half of this article already. So, let me get into the story I hoped to share today. Panasonic has been and still is believed to be strong against bad economy. It was said that it is due to their management following Konosuke Matsushita's spirit.

In one of the recession time, he introduced working condition very close to work-sharing, today and did not fire any of his employee. In the new year day in bad economy, he gathered all employees to join shipment of company back orders and asked them to enjoy new year with buyers. In the company foundation day ceremony, he asked all - literally all - employees participated to go up to podium and express themselves. He told to everybody that that day is the day he listen to all of his employees. Hesitated first, after the first one finished speaking, all employee expressed themselves.

In press interview, he said that it must be high spirited in this kind of time.

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Hilary Melton-Butcher said...

Hi Shaw .. it sounds as though the financial world is going to be in gloom for a while.

Mr Matsushita seems like a very enlightened man .. & long may Panasonic last

Thanks for sharing this story ..


Shaw said...

Dear Hilary, Thank you for your comment always. I thought entrepreneuer in US and Japan can learn something from him.

Hilary Melton-Butcher said...

Thanks Shaw .. your posts make sense for all of us in this world .. & you have a really good way of explaining yourself .. to us 'non engineers' .. thanks

Shaw said...

Hi Hilary, Thank you for your 2nd comment! I am just trying to use an advice from the Corporate Event. "Most important is being understood." Please tell me specifically how you felt that way. Thanks, again.

Hilary Melton-Butcher said...

Hi Shaw - I will do .. via email .. ok?!