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Revival of Matsushita |
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"Consumers are flocking to stores to get their hands on DVD recorders, and when they buy they are buying Panasonic." - Reid Sullivan, Vice President of Panasonic's Entertainment Group, 2002.1 "We are proud of what we've done. But we're not about to become complacent" - Yukio Shohtoku, Executive Vice-President of Matsushita Electric Industrial Co, 2003.2 Matsushita RebornIn the early 2000s, the stores in Japan displayed a wide variety of consumer electronics gadgets like palm-size camcorders, DVD recorders, plasma TV, etc.
The reasons: the Japanese style of management resulted in a large and aging workforce. The close monitoring of the subsidiaries by the holding company acted as a hindrance to the growth of the subsidiary companies. Matsushita's policy of acquiring technology from the partners and mass manufacturing failed in the 21st century.
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