Panasonic is not about any ordinary restructuring. It is about a company of $76 billion in sales, employing 355,000 people around the world, the tenth largest industrial company not in oil or autos, whose thousands of products are so universally used that it may have more customers than any firm in history. Panasonic is so big that it is one of the few companies which has a product in just about every home and business in the developed world. "Panasonic" delves into how this great six-year restructuring (2000-2006) was accomplished without importing an outside CEO like Lou Gerstner. Panasonic was able to reorder a complex and tradition-bound organization in a country that is often thought, mistakenly, to deeply resist radical change, thus demonstrating how Japanese companies continue to adapt to the competitive forces roiling the markets around them. For tradition-bound American companies, Panasonic is the formula for successful regeneration.
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