Management Hall of Fame
Most Respected Management Gurus
Matsushita - Japan
- "Big things and Little things are my job. Middle level management
can be delegated." (Konosuke Matsushita)
- " The mission of a manufacturer should be to overcome poverty, to
relieve society as a whole from misery and bring it wealth." (Konosuke
- 1918 Starts Matsushita Electric Appliance Factory.
- 1929 Formulates the "basic management objective."
- 1933 Introduces the "five guiding principles."
- 1935 Matsushita Electric Appliance renamed Matsushita Electric
Industrial Company (MEI).
- 1946 Founds the Peace and Happiness through Prosperity (PHP)
- 1950 Returns to the company.
- 1961 Becomes chairman of MEI.
- 1965 Introduces five-day workweek.
- 1973 Steps down as chairman.
Konosuke Matsushita founded one of Japan's greatest corporations,
Matsushita Electric Industrial. Yet he is remembered for much more than
the creation of an electrical goods empire. At MEI Matsushita implemented
management practices that were far ahead of their time. He abandoned the
conventional centralized management structure. He drew up a corporate
creed and identified corporate values. He pioneered advertising in the
press and competed both on price and quality.
Matsushita's philosophy can best be summed up by the "basic management
objective" he formulated in 1929. "Recognizing our responsibilities as
industrialists, we will devote ourselves to the progress and development
of society and the well-being of people through our business activities,
thereby enhancing the quality of life throughout the world." It was
something Matsushita did to great effect.
Books & References:
- Gould, Rowland. The Matsushita phenomenon . Tokyo: Diamond Sha,
- Matsushita, Konosuke. Quest for Prosperity - Quest for Prosperity:
The Life of a Japanese Industrialist . Tokyo: PHP Institute, 1988.
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