Panasonic was founded on March 7, 1918, when Konosuke Matsushita moved from his small home to a larger two-story house and established the Matsushita Electric Housewares Manufacturing Works. The staff consisted of three people: 23-year-old Matsushita, 22-year-old Mumeno and her brother Toshio Lue, then just 15 years old. They transformed the three rooms on the ground floor into a laboratory and installed two manual presses. for molding insulation. Although production began with fan insulation plates, Matsushita was convinced that there was a huge untapped market for affordable, high-quality household electrical appliances. He stayed up late at night perfecting his designs, eventually choosing to produce two new products: a plug and a two-way socket. They proved popular because they were of higher quality than other products on the market and cost 30% to 50% less. At the end of 1918 the company employed 20 people. On October 1, 2008, Matsushita Electric Industrial Co., Ltd. became Panasonic Corporation and its symbol on the New York Stock Exchange was changed to PC from MC. This name change also had an effect for some companies in the group that used the names Matsushita or National. Along with the name change, Panasonic began working on rebranding from National to Panasonic in Japan, which was completed by the end of March 2010. The Panasonic brand was created in 1955 and was first used as brand for audio speakers. It is a combination of the words "Pan" and "Sonic", sound and has the meaning of bringing the sound created by our company to the world. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Panasonic's mission statement is "A better life, a better world." Panasonic is committed to creating a better world, constantly striving for the evolution of society and the happiness of people around the world. Improving people's lives by creating goods needed by society or providing comprehensive services is vital. After all, business is ultimately about the betterment of our society. This is where the mission and value of every company lies. The first manufactured product was the connecting plug which was released to the market with the founding of Matsushita Electric in 1918. The plug was made of resin and the design was quite new and unique for its time. When first founded in 1918, the company was known as Matsushita Electric Housewares Manufacturing Works, which was changed to Matsushita Electric Manufacturing Works in 1929. The company used the name Matsushita Electric Industrial Co., Ltd. after its incorporation as corporation corporation in 1935. Although the company used the National and Panasonic brands for a long time, in 2003 it decided to position Panasonic as a global brand with the slogan "Panasonic ideas for life". On October 1, 2008, Matsushita Electric Industrial Co., Ltd. became Panasonic Corporation and its symbol on the New York Stock Exchange was changed to PC from MC. This name change also took effect for some of the group companies that used the Matsushita or National names along with the name change, Panasonic began working on rebranding from National to Panasonic in Japan, which was completed by the end of March 2010. The Panasonic brand was created in 1955 and was first used as a brand for audio speakers. It is a combination of the words "Pan" and "Sonic" and has the meaning of bringing the sound created by our company to the world. Since 2008, it has been used as a corporate brand representing the company, its products andservices. There are four main areas that the company focuses on to ensure a successful business: Recognized corporate structure Unprofitable activities Business transfer/growth strategy analysis Escape from the financial crisis By reorganizing its corporate structure, Panasonic has decided to reform its headquarters through the creation of new corporate divisions and divisional companies. Regarding non-profitable activities, there were guidelines for the main non-profitable activities. They reviewed the business transfer and growth strategy by formulating and initiating a medium-term plan. To help against a looming financial crisis, they created a group-wide business to generate cash. The Panasonic corporation includes various companies in business sectors, from AV to home appliances, industrial solutions and other consumer electronics. Each company has its own distinct manufacturing and sales functions that meet specific needs around the world. The companies in the domain are Appliances Company, Eco Solutions Company, Connected Solutions Company, and Automotive & Industrial Systems Company. The Appliances Company manufactures and sells consumer electronics such as flat screen televisions, refrigerators, washing machines, personal care products, microwave ovens, home audio equipment, video equipment, vacuum cleaners, rice cookers, air conditioners (such as air conditioners for environments, large air conditioners), cold chain (such as display cases), and devices (such as compressors, fuel cells). Eco Solutions Company manufactures and sells products such as luminaires, lamps, wiring devices, solar photovoltaic systems, water-related products, interior furnishing materials, ventilation and air conditioning equipment, air purifiers, nursing and bicycle related products. The Connected Solutions Company provides solutions for product development, manufacturing, sales, systems integration, installation, support and maintenance, and service operations. The affected areas are aviation, manufacturing, retail entertainment and logistics. The automotive and industrial systems company produces and sells automotive electronic and infotainment products (such as in-car multimedia equipment, electrical components), energy products (such as lithium-ion batteries, primary batteries), industrial devices (such as electronic electromechanical control components, electronic materials, semiconductors, displays, electric motors). Looking at the SWOT analysis of Panasonic via Pestle Analysis, Panasonic's strengths are based on a strong market position and brand, high-quality products and a wide variety of products. Panasonic is known for its various cameras and reputation for Japanese innovation and quality. This company produces long-lasting electronics of high standards, allowing them to manufacture over 10,000 products. Their level of production places Panasonic in a strong position for different market environments and strategies. However, their weaknesses mean that expensive products and inefficient management allow other large tech companies like Samsung to compete for their customer base. As for inefficient management, Panasonic tends to restructure its headquarters due to internal management issues, hence the overly diversified product line. In addition to the strengths and weaknesses, Panasonic's opportunities and threats follow the same line. The opportunities consist of emerging markets and new products that allow consumers to purchase products even in the most regions.