Turnaround: How Carlos Ghosn Rescued Nissan

by David Magee

The astonishing business story and management strategies of Nissan's president, Carlos Ghosn. Arguably the world's most successful CEO, Ghosn rescued the Japanese automaker from the brink of bankruptcy, achieving record profits in only two years. This is the story of how he did it. When Carlos Ghosn, a 46–year–old, fiery Brazilian was installed as president of the Japanese corporate giant, Nissan, the automotive world was astonished. Ghosn moved to Japan and immediately promised to make Nissan profitable in one year, 2001, or he would resign. He accomplished his goal and then some, using western business techniques that had never been tried before in that tradition–bound country. The book, written in narrative style by a journalist, will have Ghosn's complete cooperation. Readers will learn how he went about remaking Nissan, cutting costs, closing plants, breaking up the Keiretsu relationships, pushing for innovative new automobile designs –– all the while defying the business and cultural taboos that permeate business in Japan. In the process, he has become a celebrity (he is hero of a series of admiring comic books) and a champion in global business circles. Editorial Reviews The facts of Magee's account are quite startling. Nissan, once a darling of the automotive world, with its cheap Datsun pickups and stylish, spunky Z roadsters, had, by the 1990s, fallen on hard times. Saddled with billions in debt, the company merged with Renault in 1999, and a Renault v-p, Carlos Ghosn, was named Nissan's new CEO. Routing not only every naysayer in the auto industry, Ghosn, who was born to Lebanese parents in Brazil, also had to overcome an entrenched Japanese business culture that at that time had seemed to stress perks, seniority and relationships over the bottom line. Given complete control over the company, Ghosn slashed costs and laid off employees, as was expected, but also instituted a sweeping reorganization of the entire company, ann

Genres: Business, Biography, Nonfiction

256 pages, Hardcover

Published January 1, 2003

About the author

David Magee is the bestselling author of the award-winning Dear William: A Father’s Memoir of Addiction, Recovery, Love and Loss, a Publisher’s Weekly bestseller featured on CBS Mornings, and other books including his forthcoming memoir is A Little Crazy (September, 2024), a sequel to Dear William, about mental health and finding purpose and joy written in his inspirational and vulnerable voice.

He's also host of the new podcast (launching Sept. 10, 2024) A Little Crazy. Learn more at www.alittlecrazy.com.

David is a sought-after speaker in communities, business, schools and universities, about mental health and substance misuse challenges and solutions, and he was involved in creating the William Magee Center and the William Magee Institute for Student Wellbeing at the University of Mississippi, named after his late son.

Previously, David was a daily newspaper publisher, a media company president, small business owner, a regular guest on CNBC, and once hosted a national cable TV and radio program (The David Magee Show).

He and his wife Kent, a yoga for addiction teacher, live in Oxford, Mississippi.

Reviews

[Jacob · Rating 3 out of 5]

The story of how Carlos Ghosn contributed to the success of the Renault-Nissan is quite compelling. Ghosn took a failing Japanese car company and turned it into a profitable and innovative brand in little over two years with a simple but effective management philosophy. This book chronicles Ghosn's career with a special focus on his first years with Nissan (1999-2003).

There are many ways to tell this story; as a case study for business classes, as a biography of an international executive, or even as a history of an important company. Unfortunately, this book is simultaneously part hagiography and part case study, which makes it a mediocre read. The book is littered with sections that come off as adulatory, for example:

"When he speaks, he is typically direct and honest. If it's true, he is not afraid to say it. And he cannot help but lace his thoughts and comments with a philosophical style reflective of his French education and days spent rationalizing people and life with fellow students in Paris." (p. 168)

In addition, while the information might be well researched, it certainly doesn't come across as such since there aren't any footnotes or endnotes (from what I can tell, the author David Magee relied on company information and interviews as well as outside resources).

Some chapters actually include bullet-pointed lists that might be useful for MBA students such as:

Nissan 180 Relies Four Pillars: (a) more revenue (through one million additional unit sales) (b) less cost (reducing costs 15 percent over three years) (c) more quality and speed (focusing on product and management) (d) maximized alliance with Renault (finding synergies that benefit both) (pp. 198-199)

However the book does not go into enough detail to offer serious business insight. Instead, Magee frequently repeats himself and delivers superficial "management advice" that might be worthy of a powerpoint (but not a book).

While I enjoyed reading about Ghosn, I wouldn't particularly recommend this book. There are some good articles online that convey the same information in a more honest format (I would start here).

[Chris Contes · Rating 3 out of 5]

Not as much of a revolutionary "silver bullet" story about reviving a storied brand as--say--Iacocca's story. But still a good read, especially in light of Ghosn's current legal situation.

[Bchara · Rating 2 out of 5]

J’avais presque oublié ce livre dans ma bibliothèque, jusqu’à ce que récemment l’affaire Ghosn éclate. J’ai donc trouvé le moment propice à sa lecture. L’ouvrage est informatif, sans doute, et facilement accessible aux profanes du monde des affaires. Toutefois, le ton est trop élogieux, ce qui dessert la sincérité de l’exposé. Trop de répétition donne une impression d’insuffisance des informations. Et la multitude d’erreurs d’orthographe dans cette traduction française n’arrange pas les choses. Donc, en somme, une lecture rapide, informative, mais presque superficielle et baclée

[Eswar · Rating 4 out of 5]

A quick, entertaining and informative read on possibly the only instance that a foreigner came to the management of a Japanese company and turned its fortunes around (other than toy maker Takara Tomy). As a foreign resident of Japan living here for close to 3 decades, the description and rationale of why Japanese companies are gridlocked for growth still rings true. Read in three days and enjoyed it. Interestingly this book was on my shelf for nearly two decades.

[Joumana · Rating 3 out of 5]

Le sujet est tres interessant. Dommage que le recit ne soit pas plus structure. Repetitions et manque d'un plan net le rendent quelque peu incoherent.

[Ghasem Safaeinejad · Rating 4 out of 5]

معرفی این کتاب را می توانید در این لینک ببینید
http://safaeinejad.ir/1394/06/27

[Dr. Christopher S. Hope · Rating 5 out of 5]

This is a great book and gives great insight on how to run a great company.

[Foad Ansari · Rating 4 out of 5]

It was a good book with clear idea