Monday, March 19, 2012

Panasonic's New President Focuses on Improving Efficiency

Panasonic President Kazuhiro Tsuga
Panasonic's New President, Kazuhiro Tsuga
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To be officially formalized this June, Kazuhiro Tsuga, currently the Managing Director and President of Panasonic's Audiovisual Products Unit, will take over as the President of all of Panasonic. He will replace the current President, Fumio Otsubo.

(Click Here) for an article in the Japan Times.

Panasonic has just predicted its largest loss ever, 780 million yen in this business year, largely due to strength of the Japanese currency, and decreased demand in televisions and semiconductors.

Mr. Tsuga stresses that the company must eliminate inefficiencies, and develop the "Environment Business" through revolutionary new product development.

When I spent a year working at a Panasonic factory in Kofu, Japan, I was very impressed by the difference in how Panasonic responded to tough economic times, as compared to my own experience in American companies. At that time (1994), the Japanese bubble economy had just burst. Panasonic executives uniformly stressed the importance of engaging customers, ensuring customer satisfaction, and making customers life-long fans of the company and its products. I hope that message isn't lost on Panasonic's new President.

Panasonic has made some revolutionary product introductions in the Micro 4/3 camera market, in my opinion. They still have a long way to go in developing excellent customer service, at least in the United States, in my opinion. Inefficiencies in dealing with service and internet systems are obvious. Sorry for the frank talk, but I want to see this improve.

I remain a loyal Panasonic customer, and look forward to a new era for the company. Their products have always been first-rate in my opinion. The latest G series camera products continue that tradition.

Onward and upward, Panasonic. Your founder, Konosuke Matsushita, would have certainly expected no less!