Konosuke Matsushita

Konosuke Matsushita (松下 幸之助, Matsushita Kōnosuke^?, November 27, 1894 - April 27, 1989) was a Japanese businessman and philosopher. He was the founder of Matsushita Electric Industrial Company, Ltd. and one of the most prominent figures in the history of the industry in his country, being considered one of the main leaders of the "Japanese economic miracle."

Matsushita was the first Japanese person to appear on the cover of Time magazine and the top tax filer for his country for 11 consecutive years, starting in 1952.

In 1998, the Matsushita Electric Industrial (MEI) group was ranked 23rd among the 500 largest companies in the world according to Fortune magazine.

Biography

Though the Matsushita family was renowned in their hometown, his father made a serious financial mistake that left them broke when Kōnosuke Matsushita was four years old. The family broke up; Gradually each one of the seven brothers had to leave in search of opportunities. Kōnosuke left his home at the age of nine to go to work in a commercial area of Osaka, where he learned the trade of a merchant. Between Matsushita's ten and twenty years of age, all but one sister of his family died of tuberculosis.

In his adolescence Matsushita developed a strong interest in electricity, which was developing in his country at that time. Konosuke got a job at the Osaka Electric Light Company as a wiring technician assistant, where he was promoted several times due to his quick learning.

Professional career

Improved connector. The first product established by Matsushita.

Matsushita Electric

On March 7, 1918, Kōnosuke Matsushita founded the Matsushita Electric Housewares Manufacturing Works. The first products are not very successful, but after five years Matsushita creates a bicycle headlight that becomes a commercial success.

The company was renamed Matsushita Electric Devices Manufacturing Works. In 1922 Konosuke found it necessary to build a new factory and office to house his growing company.

During the early years, bicycle lamps and electric irons were marketed. Later, radios and electric batteries.

By the time the Great Depression hit in 1929, the company was already sizable, with hundreds of employees. In the midst of the crisis, the mass dismissal of workers became a common practice in companies around the world; however, Matsushita refused to follow suit. He not only kept his workers employed, but also respected their wages. The solution was to orient part of his production staff to sales work; in this way all the workers would be working.

Despite the pessimism of some of the managers, the strategy was a resounding success, which was rewarded as the crisis was overcome, since the employees created a special bond with the company.

In 1929, Konosuke changed the company name to Matsushita Electric Manufacturing Works, defined the basic management philosophy, contained in the basic management objective, the seven principles, and the corporate motto, to guide the growth of Matsushita.

During World War II, Japan's entire industrial force had to contribute to the war effort. Matsushita made various products for the military and even assembled fighter planes made of wood.

In the early 1950s, Matsushita began producing electric washing machines and televisions due to the explosive popularity of electrical appliances. The first black and white television began to be commercialized in 1952 and then in 1960 the color television was introduced.

In all these years other companies of the Matsushita Electric group were established. In 1954 it acquired Japan Victor Co. (JVC) and in 1959 it established Matsushita Electric Corporation of America in New Jersey (United States) and other companies were created in the American continent.

PHP Institute

In 1945 Matsushita founded the PHP (Peace, Happiness, Prosperity) Institute a few months after the end of the war. This foundation embodies Matsushita's humanitarian ideal.

He has published two books of his own: "Thoughts on Man" and "Qualities needed for a manager".

Death

Kōnosuke Matsushita died of pneumonia on April 27, 1989 in an Osaka hospital. More than twenty thousand people attended his funeral.

Private life

Toshio Iue (1902 - 1969), the brother of Matsushita's wife, founded Sanyo Electric Co., Ltd. Prior to the founding of Sanyo, he played an influential role in the growth and development of Matsushita Electric, working in collaboration with his brother-in-law and confidante, Konosuke Matsushita.

Konosuke Matsushita Museum.

Tributes

• Konosuke Matsushita Museum: In 2018 Panasonic inaugurated this museum located in Kadoma. The complex was dedicated to the company's founder. Here are the beginnings of Matsushita Electric Housewares Manufacturing Works in a space that resembles the house in which its origins were, in 1918.

Posts

• The Secret of My Success: Matsushita explains his views on business and management based on his experience. The book is divided into 2 parts. The first of them: “My principles of management” is developed in 4 chapters. The second part is called “Reflection on My Management.”