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"We have to fight and there is no way out."
Howard Stringer, a 63-year-old American, is trying to lead the Japanese "60-year-old" national treasure company, Sony, out of the "mire." The first non-Japanese chairman of Sony Corporation announced the Sony renaissance plan six months after he took office. However, this did not satisfy investors, and the company's share price still fell sharply.
Because the scene in front of him is not exciting: the gradual decline of the consumer electronics business, the rigorous Japanese-funded enterprise characteristics, and gradually decline in product yield.
Sony's glory has captured the $72 billion consumer electronics market in the global market, and its success in mass media such as movies and music has made Sony a synonym for avant-garde trends.
Can Howard Stringer, who is known as the "Mr. Reduction", change Sony's sluggish state?
On October 17, "First Financial Daily" first met Sony's new head, which is the first time he has visited China in this capacity.
"I don't want to live ordinary life"
In 1965, Howard Stringer made the most important decision in his life when he was 22 years old. After completing his modern history and earning a master's degree at Oxford University, he decided to start his career in the United States. Although this decision was unusual at the time, he did not hesitate.
“At that time, the British economy was sluggish, political and commercial conditions were uninteresting. It was my personal adventure to come to the United States. I was not sure about my future, but I knew that I was not willing to be driven by the expectations of tradition or others. I don't want to live ordinary life."
But when he first arrived in the United States, he was only a British citizen in the legal sense. He faced a choice he had to make: to serve as a US soldier to Vietnam, or to roll back to his home in England. Howard Stringer did not hesitate, this Welsh guy set foot on the deck of the aircraft carrier that Uncle Sam sailed to Vietnam, became a US soldier, and won the US Military Medal of Honor for more than two years of outstanding performance.
After returning from Vietnam, CBS gave Howard Stringer a chance to work as a journalist. "The most direct reason for entering CBS is: 20 cover letters were sent, and CBS is the only company to reply. When I came to the United States, I did I don't know where to start, because I don't know what kind of work I might get. So I said to myself, I want to start from the grassroots level of a company and gradually improve through hard work. The result is in CBS."
Howard Stringer spent 30 years as a journalist and producer to C-President.
"Mr.
"I never thought about changing jobs. I left after CBS was acquired in 1995." Howard Stringer said.
In 1997, Howard Stringer entered Sony America, which was in a loss situation, but the salary was much lower than CBS. "If the job is worth doing, the salary is secondary."
When he first arrived in Sony USA, Howard Stringer began his "slimming" prescription. This time he turned out Sony's Japanese veteran, Sony's legendary figure Thomas D. Mottola "please out" the American company's music department and replace it with Stringer's close friend at CBS, Andrew Lack.
Under the guidance of Howard Stringer, Lack also carried out a large-scale layoff plan and cut thousands of positions, making Sony's American music department hit a beautiful turnaround, turning losses into profits. In fiscal year, it achieved a profit of more than $1.7 billion and successfully acquired BMG, the music division of Bertelsmann. Howard Stringer transformed Sony's American film department in the same way.
Whether at Sony or before in CBS, Howard Stringer is known for his ability to take decisive measures to improve operational efficiency, which earned him the nickname "Mr. “I never thought that spending cuts was a pleasant choice, but I have to be brave enough to take action after setting goals.â€
Dilemma
Sony’s former chairman, Izui Nobuyuki, considered the electronic hardware to be outdated in 1998. Sony has focused on the game and entertainment market. Under this dual strategy, electronic hardware has been neglected.
However, it is precisely because of the wrong strategy of ignoring the electronic business that Sony is currently in a difficult situation.
On July 28 this year, Sony released its first quarter financial report for the fiscal year ending June 30. The report showed that Sony suffered a loss for the second consecutive quarter due to the continued decline in flat-panel TV prices and the increase in operating expenses due to the development of the PlayStation 3 game console: Sony's net loss for the quarter was 7.26 billion yen (approximately $65 million).
Luo Qingqi, a well-known consulting industry expert and senior director of Paler Consulting, analyzed this to reporters: Sony's dilemma is due to its strategic transformation failure. "The future network era should be an era in which content is king, but content and hardware are not completely free, but a process of mutual evolution, which means that the two optimize and improve each other in interaction. It's a combination of content and hardware. For years, Sony has thrown electronics to smash content in the choice of electronics and content.
Again, "reduction"
After serving as chairman of Sony Corporation, Howard Stringer is still following the old tradition - "reduction of expenditure."
On October 17, he came to Beijing to introduce to the reporter the strategy of “revitalizing the electronic business†proposed by him as the head of Sony. In the “cost reduction†program as the core content, Sony plans to go to 2007. At the end of the fiscal year, the cost of 200 billion yen was cut. Sony will achieve this by eliminating the number of businesses and product models, rationalizing production facilities, and building more efficient management structures to eliminate duplication in organization and business processes. The specific plan is: Sony will reduce, integrate or withdraw 15 businesses; Sony will reduce the number of product models by about 20% (compared with fiscal 2005); Sony will reduce 11 production facilities and change from 65 to 65 54 homes.
“As a result of the above measures, by the end of fiscal 2007, we will cut 10,000 people worldwide (headquarters/administrative staff 5000, non-administrative staff 5000; Japan 4000, overseas 6000). These reductions will streamline our Operation makes the company's operations more efficient," Howard Stringer said with enthusiasm: "Of course, I have communicated with the board members of the Japanese headquarters many times in the decision-making of the layoffs."
But obviously this "reduction of expenditure" is far from the last time. It is reported that Sony's layoff plan has been strongly opposed by many Japanese executives. Some executives even oppose any form of layoffs. According to his own intention, Sony's restructuring plan should go further because Sony's business has about Half of them suffered losses, but in the face of employee pressure, he had to compromise. The newly announced reduction plan is considered by the industry to be the result of compromise between the two parties.
In terms of business adjustment, Howard Stringer is also under pressure from all sides. "I hope to cut more business, but everyone told me, 'We will make these businesses turn a profit.' In fact, I have done my best."
Nowadays Howard Stringer is clearly aware that the chairman of a Japanese-based company must cross the cultural divide in a smart way so that he can get support from the company when making decisive decisions. He believes that most Japanese are more willing to gradually improve rather than violently change, and some even pay more attention to harmony than profit. "I will convince Japanese employees on many occasions - gradual improvement may not be enough, we have to fight, and there is no retreat. Once it fails, harmony is worthless."
"Face" Howard Stringer
63 years old, in China, this is the beginning of an old age, but it is clear that Howard Stringer does not admit that he is old. At this time, he is still "sacrificing personal life for work." He said that sometimes this is a necessary stage in life: "At this stage after I became chairman and CEO of Sony, I want to sacrifice my family life in the interests of Sony. I can't often be with my family, in the plane. The time may be longer than on the ground, but this is not a problem. The children are very supportive to me, the 9-year-old daughter said: 'I hope you go home often, but don't want you to leave Sony.' Now I am 12 years old The son is interested in every product of Sony. He found the PSP website and wanted a notebook."
Now Howard Stringer must spend the weekend on travel, starting from New York every Saturday to appear in the office in Tokyo on Monday morning. His wife is a doctor and he is worried that he does not have time to exercise.
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