Word: nissan
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Dates: during 2000-2009
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After renault took a controlling stake in nissan in 1999, the French carmaker sent in Carlos Ghosn, a Brazilian-born, 47-year-old turnaround expert, to lead the overhaul. TIME's Tokyo bureau chief Tim Larimer recently spoke with Ghosn about the most dramatic makeover to date of a Japanese company...
...TIME: What went wrong at Japanese companies? Ghosn: Companies like Nissan lost focus on what really can make them successful, and that has to do with customer focus. And cross functionality - between functions, between regions - working together for the customer was not built enough into an organization...
CARLOS GHOSN Nissan...
...Brazilian-born Ghosn is widely admired for his revival of Nissan. Lately he's a fashion role model for Japanese executives. The stocky, thin-haired CEO doesn't look like GQ material. But profiles in Japanese media have focused as much on his dark, stylishly tailored suits, colorful ties and rimless eyewear as on his management skills. Masakatsu Ochiai, a Tokyo fashion writer, says traditionally staid Japanese businessmen think that "if they can dress like Ghosn, they will be like...
...Eisuke Sakakibara, a former Ministry of Finance vice minister for international affairs. "Japan delayed the structural reforms that were needed." It's not as if Japan did nothing. Sectors long shielded from competition, like financial services, have been opened to foreign investment. Foreign firms that now run car companies Nissan and Mitsubishi are closing factories and revamping inefficient supply systems. And the Sonys and DoCoMos of Japan have flourished in part because they separated themselves from the old cartels and figured out how to combine technological know-how with marketing savvy...