MATSUSHITA (1894 - 1989): one of history's greatest business leaders and the father of $75 billion Empire was revered in Japan with nearly as much respect and reverence as was the Emperor.

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NAME:        KE KANG

CROUSE:     MARKETING & ENTREPRENEURSHIP

LECTURER:   SHAHID RASUL

TUTOR:       KEITH HANNING

DATE:         17th March, 2004

MATSUSHITA (1894 – 1989): one of history’s greatest business leaders and the father of $75 billion Empire was revered in Japan with nearly as much respect and reverence as was the Emperor.

He was not a great speaker.  His voice was frail.  He never displayed quick-silver intellect.  And, even if he did, it was all too rare — never in public view.  He never warmed his audience with hilarious anecdotes.  But, he did what all great leaders do.  He motivated large groups of individuals: to improve humanity; and, its very condition.

 

When Matsushita died, in the spring of 1989, at the age of 94, he had become, in the words of the then US President, George Bush, Sr., “an inspiration to people around the world.”  His legacy was, indeed, daunting.  For a man who had helped lead the Japanese economic revival, after World War II, through Panasonic and a host of other brands, the firm he founded, and supplied billions of people with household appliances and consumer electronics, Matsushita was nothing short of an inspirational role model — quite largely unknown beyond his native land.  But, again, by the time of his death, few organisations, on the living planet, had more customers.

 

His economic achievements exceeded, on some dimensions, those of the likes of Henry Ford, the more famous of entrepreneurs.  Matsushita’s name was not on the products.  More than that, he was not an American — and, he never ever sought media attention outside his own country.

Hence, that is Matsushita, the most famous entrepreneur in whole 20th century. The Oxford English Dictionary defines ‘entrepreneur’ as ‘a person who attempts to profit by risk and initiative’.  A person whom full of great passion and faith in doing certain business without thinking about profit in the beginning and willing to take risks and in the faith of never give up and always create opportunities through innovation will like Matsushita.

As Matsushita said: ‘if a product has unexpected sale and bad quality, we have to stop the factory and improve the product. When we make goods of inferior quality, we are not contributing to society and we have to make all products as inexhaustible and as cheap as tap water’. The reason why Matsushita Electronic (MEI) becomes the world greatest entrepreneur business now is because from year to year the company all follows the Matsushita’s principle. Always produce the finest mess products but with the lowest price! Always hear what customer saying and improve their product! Always inspire employees and encourage them to work as the family. The entrepreneurs like Matsushita creates value by exploiting some form of change, for example in technology, new strategies, prices or demographics like what he did to demonstrate his lamp is to put few produces in each shop and put them on to display and ask for no money. This innovative process is an essential tool for entrepreneurs and those whom have this idea can be the winner in the market. It can’t deny that Matsushita’s creative thinking build the new demand and find some new ways of exploiting existing markets. This is a desirable opportunity to expand their business. To know the characteristics or traits of successful entrepreneurs another essential factor is to deal with employment and quantity of production. Faith in employees and flexible change to deal with depression economic situation of entrepreneurship is one way of solving the problem of poverty and relieving society as a whole from misery. In 1929s, Japan is facing the terrible economic crisis. Matsushita’s products are facing the downwards ordering and they are facing the financial disaster. Many other Japanese firms cut large number of employees to deal with finance problem. However, what Matsushita did is ‘cut production by half immediately, but not dismiss any employees. They reduce output not by laying off workers.’

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Launching and running an own business is not easy at all. It will take many things into account like hard working; deal with problems and a willingness to live with uncertainty in varying degree. Like Matsushita is a hero whose personal character traits help to launch a successful business. Here are the top ten characteristics of entrepreneurs in order which illustrate as enthusiasm, perseverance, luck or fortune in business, self-confidence, technical/vocational skill and knowledge ability, responsibility, honesty, creativity, resourcefulness, and knowledge and information seeking. All these factors influence the decision to decide starting up a business and growing it. ...

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