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Turnaround : How Carlos Ghosn Rescued Nissan

Turnaround : How Carlos Ghosn Rescued Nissan

List Price: $25.95
Your Price: $16.35
Product Info Reviews

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Rating: 5 stars
Summary: The Passionate Pragmatist
Review: Although Magee does indeed provide a brilliant analysis of how Carlos Ghosn "rescued" Nissan, the value of this book extends far beyond that admirable achievement. What we have here is a probing and informative analysis of a leadership and management style which provides important lessons to decision-makers in all organizations (regardless of size or nature) which currently struggle to compete successfully in their respective marketplaces. In a sense, the same skills required by a successful turnaround are also valuable in organizations which are currently prospering: "Be transparent and explain yourself in clear, lucid terms. Do as you say you are going to do. Listen first; then think." Prior to being reassigned by Renault to the Nissan organization, Ghosn had led the revivals of Michelin South America, Michelin North America, and Renault. According to Magee, he "may be the only person to have four verifiable corporate turnaround efforts on four different continents." Serious problems had developed at Nissan in the early 1990s. How serious? It was "strapped by $22-billion in debt, inflated supplier costs, and new product development that was at a standstill." This book explains how, under Ghosn's leadership, Nissan not only solved those and other problems; it regained a position of profitable and prominent leadership in one of the most competitive of industries.

As indicated previously, Ghosn is a firm believer in transparency throughout all areas and at all levels of an organization. For that reason, prior to the merger of Renault and Nissan, he created cross-company teams (CCTs) which "were charged with finding possible synergies between the companies and exploring specifically how these might work if an alliance was formed." Teams studied product planning, vehicle engineering, power trains, and purchasing. It is incomprehensible to me that Ghosn, a native of Porto Velho, Brazil, could convince those who worked in two such different companies, in cultures with such different values, to work effectively together. He advocated the same strategy which had succeeded so well at Michelin North America: "Assume nothing (find answers within the company), work fast, and earn trust and respect with strong results." As American colleague Jim Morton once said of Ghosn, "he knows how to get a commitment."

Obviously, throughout his career thus far, Ghosn has demonstrated a specific style of leadership and management which Shiro Tomii, a senior vice president in Japan, once summarized as follows: He establishes high, yet attainable goals; makes everything clear to all roles and levels of responsibility; works with speed; checks on progress; and appraises results based on fact. In this context, Magee notes by creating intracompany transparency, "only the facts survive. [Ghosn] loves it when data and analysis win and loses his patience when individuals persistently argue a point with nothing to back it up."

Once the Nissan Revival Plan (NRP) had restored hope, profits, and confidence in the company, Ghosn focused everyone's attention on NISSAN 180 which involves even more ambitious objectives and requires even greater commitments to achieve them. "So questions remain as to exactly how high and how far Nissan will go in its ultimate quest." However, this much is certain: "Renault took a chance. Ghosn went to work. And Nissan responded. Together, they changed world business forever." That is the story which Magee has told in this book and he has done so with rigor and eloquence.

Rating: 5 stars
Summary: Great Book
Review: An outstanding book. Although I've always avoided foreign-made cars, this book made me want to buy a Nissan and to buy stock in the company.

Rating: 4 stars
Summary: An inspiring book for any Nissan fan!
Review: As a Nissan fan, I found this book interesting and to some extent informative as well. It is written in simplified english and appeals to a wide audience irrespective of age. So, you don't need to be a 'management guru' to get some tips for a 'successful turnaround'--this book tells all--the hero (Mr. Ghosn), Nissan the firm, how the turnaround was attempted, initial frustrations and finally how it 'got back in the black'--clearly and consisely. Further, while the story revolves around the hero, Mr. Ghosn, the author mindfully includes all those 'little' triumphs and tragedies that contributed to the turnaround effort in a witty manner. This adds to it's appeal and hence the suspense and interest.

Furthermore, it provides some valuable management advice and guidlines in an actual case scenario laid out across three continents and in cultures that don't usually see 'eye-to-eye' on many issues. Be it corporate strategy, cross-functional teams, hierachical communication, branding or new product development this book provides you with the insight needed to give effect to your own 'mini turnaround'. A must for any book lover!

T

Rating: 4 stars
Summary: Engrossing account of an important, bold turn-around
Review: As we continue to read about the Fiat debacle in Italy, and the grim plateau that car sales figures are cutting in the US, it is difficult to escape the sheer morbid curiosity about how Ghosn has, in less than four years, managed to take a company that many thought was heading for utter disaster and turn in it into one of the hottest automotive manufacturers on the planet (Nissan has once again raked in a record quarter as I write).

David Magee does an engaging job of capturing Ghosn's audacious yet down-to-earth attitude in a culture as obstinate as Japan's. Some very interesting anecdotal evidence here about Ghosn's uncanny ability to motivate subordinates several layers down in Nissan. Automotive companies today are multicultural institutions that operate across traditional geopolitical/cultural boundaries. While several top-brass CEOs (e.g., Nasser who was with Ford until 2001) have recognized this and yet failed to implement it, Ghosn has won his laurels the old-fashioned way -- by enabling a free exchange of ideas in an ailing monster of a Japanese organization. This alone speaks volumes about the man's personality, and I am happy to say I was not disappointed with Magee's treatment of this aspect.

Nonetheless, a business book is a business book. There is only so much detail that can be smooshed in to it, and inevitably completeness needs to be sacrificed for readability by a wide audience. I personally felt that the book sort of glosses over several key points that could have made this a 6 out of 5 stars material --

(1) A more granular look at WHAT Ghosn *really* did in terms of enabling the culture of flexibility without really changing the otherwise autonomous structure that underpins Nissan, i.e., without too much Renault-ification; what processes did he institute to ensure being heard at the lower rungs of the giant organization. Some more managerial nitty gritty would be welcome.

(2) A coverage of some more negative, sensitive issues such as the controversial buy-out of African-American farmers for the site of the huge new Nissan assembly plant near Canton (why should everything that Nissan has done only be seen in a positive light simply because this is an ode to its CEO?)

(3) A more significant background on the contribution of Louis Schweitzer, Renault's low-profile chairman. Curious minds want to know if Ghosn "went it alone" or did he have the ideological spine of someone else too.

(4) A mention of Ghosn's plans (instead of vague broad-brush corporate objectives) for the next few years e.g. the focus on emerging markets such as Turkey. Wouldn't a star CEO such as him for instance be expected to topple Toyota for the no.1 spot? I may be speaking out of turn but THAT to me would be a benchmark of Ghosn's true success because a murky side of me still suspects that part of his success can be attributed to his being a "Gaikokujin" (a foreigner, and it is possible this is why he may have been allowed some slack by his Japanese subordinates), or that he came in with almost zero expectation.

Anyway, this is a slim wishlist and despite some of these themes being given a somewhat short shrift in the favor of singing paeans to Ghosn, I'd recommend this book highly as an accessible introduction into one of the most successful turn-arounds of the 21st century. If nothing else, it bears an important message in thumping down the stale notion that Japanese companies can only survive by sticking hook line and sinker to their dated, dogmatic ways.

Rating: 1 stars
Summary: awful writing kills interesting subject
Review: Being an auto-enthusiast, I was very interested in the story of Nissan's turnaround. However, Magee's abysmal writing made it very hard to read the book. It is written at a 3rd grade level, with short sentences that convey no point whatsoever. The plot wanders aimlessly and points that can be summed up succinctly in one sentence are restated over and over again. It is amazing that Carlos Ghosn, being the brilliant business mind that he is, ever allowed a book of such low caliber to be written about him. Maybe Ghosn's next turnaround project should be having someone competent rewrite this book so that it's not a pain to read.

Rating: 1 stars
Summary: Very poorly written
Review: I am an avid reader of all things auto, devouring books, magazines and internet articles... everything from Automotive Engineering, Auto News to Ed White's columns on the WSJ. I have read a number of good books (Ingrassia and White's account of the rise and fall of the US industry being one of them) but this one certainly comes nowhere near a good read.
For a start, the author could begin with correct english usage. I am taking my GMAT soon and found the sentence construction appaling to say the least... I had to quickly drop reading this book for fear that I would unlearn all the rules of english!! The subject treatment did not help much either. The book did not engage me at all. It does not build a story, nor characters and uses cliched words repetitively.
Best to borrow it from the library (as I did). That way, when I had to drop it after reading 30-40 pages, I didnt feel so bad.

Rating: 5 stars
Summary: strong leadership title
Review: I got this book to learn about Carlos Ghosn because I work at a domestic in the auto industry. I have since shared it with several of my colleagues because I found it to be a useful leadership guide.

It different than I first thought it would be. I thought it would be a narrative look at what happened at Nissan. Then I realized it was a "lesson" approach and appreciated the approach and writing.

I recommend it for anyone wanting to learn about Carlos Ghosn and his interesting ways of working.

Rating: 2 stars
Summary: A big disappointment
Review: I had very high hopes for this book but I was sorely disappointment.

The blame shouldn't fall on Nissan or Carlos Ghosn because they did an incredible job of turning Nissan around.

The blame should fall squarely on the author who is a horrible job depicting the subject matter.

My biggest two problems with the book:
1.The book seems to be written with no store-line, focus, or purpose.
2.The book reads like a poorly written business article in some local town newspaper.

It is really unfortunate because the story of Nissan is amazing.

Rating: 4 stars
Summary: good read
Review: I have not read a business book like this one. I would liked for the author to have given even more detail about how Carlos Ghosn did it but the story is interesting and tells how one man pulled off a miracle. I used to work at Nissan and the Japanese would not change. Now they have.

Rating: 4 stars
Summary: Weak treatment of an outstanding topic
Review: I picked up this book with great anticipation. I had heard about Ghosn's paradoxical global triumph - A Lebanese Brazilian, working for a French company, goes to Japan to turn around a traditional Japanese auto company. I was looking forward to either a biographical treatment of Ghosn, or detail on the turnaround. In trying to handle both, the book slid into mediocrity.

The book covers Ghosn in a favorable light. Greatness doesn't come from a good life. I would have prefered to see more on the troubles Ghosn had to overcome.

The book also does not have enough time to go into detail on the turnarounds. Ghosn's been through 4, and none had enough detail. "Cross Functional Teams" is a fairly common management idea. What did Ghosn do differently to make it work? Breaking up the Japanese conglomerates was an enormous activity - the book made it seem a little too easy.

Again - great topic but weak treatment.


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