Entrepreneur Stories
Panasonic Founding Story – Journey of Konosuke Matsushita
From starting his journey with an electric light bulb idea to creating a multinational electronics corporation, the rags to riches story of Konosuke Matsushita is truly inspirational. Known as the “God of Management,” the founder of Panasonic was involved in many other business ventures, which, together, gave him a net worth of $ 3 billion.
Matsushita had humble beginnings. Being born to a gambling father, Konosuke Matsushita started working at the age of 9 to support his family. Eventually, he started working for the Osaka Electric Light Company, where he climbed the ladder of success very quickly, without any prior school education. This is the company where he came up with the design of an improved light socket, which was far superior than the bulbs available at the time. After getting rejected by an unenthusiastic boss, Matsushita took it upon himself to sell the light bulbs and started his own company.
At the age of 23, in 1918, he founded the Matsushita Electric Industrial Company and began making light bulbs in his garage, with the support of his wife and 3 assistants. The business was unsuccessful in the early years, but the sales picked up with time. By 1922, his Company, which now had a new factory and 50 employees, started introducing new products every single month, which were far superior than the competitors’. Matsushita’s business strategy was to launch products which were lower in price by 30 % and better in quality by 30 %.
The battery powered bicycle lamp is considered one of Matsushita’s best inventions. Candles and oil lamps were used as bicycle lamps in the 1920s and only lasted a few hours. With a keen eye to identify markets with non serviceable goods, Matsushita quickly realised, developing efficient bicycle lamps would be profitable for the Company. He created oval shaped lamps, which had light bulbs for illumination and ran on battery.
In 1930, when the Company’s sales dropped, Matsushita truly proved his leadership and management skills. He cut the production in half without laying off any employees. He said, “We’ll halve production not by laying off workers, but having them work only half days. We will continue to pay the same wages they are getting now, but there will be no holidays. All employees should do their best to sell inventory.” According to Panasonic, this strategy worked and the company survived.
In 1935, the Company, bearing in mind its various businesses, was incorporated as Matsushita Electric Industrial Co., Ltd. The Company suffered greatly during World War II as Japan lost the War, but was saved due to Matsushita’s amazing skills as a leader. In the post War era, the Company came out with devices like washing machines, rice cookers, air conditioners and the product for which Panasonic is most famous—monochrome televisions (TVs.) The Company also started expanding globally during the 1950s and introduced its first colored TV set in 1960.
After Konosuke Matsushita retired in 1961, his son in law, Masaharu Matsushita, became the president of the Company. Post Konosuke Matsushita’s retirement, the Company was faced with the 1970s oil crisis, but managed to overcome it and only continued to expand its business. Konosuke Matsushita passed away in 1989, but his legacy continues even today.
The 101 year old Matsushita Electric Industrial Co., Ltd., which changed its name to Panasonic Corporation in 2008, is now one of the top electronics companies in the world.
Panasonic now has over 272,000 employees and at the completion of its 100th year (2018,) it reported an annual revenue of $ 72.32 billion. The Company has been climbing the ladder of success continuously. This was all made possible because of Konosuke Matsushita’s determination to succeed and excellent management skills.
T.N. Seshan’s name stands tall in India’s history as the man who transformed the nation’s electoral system with extraordinary courage and integrity. Born in 1932 in Kerala, Seshan grew up with values of discipline, education, and service to the nation — virtues that shaped his illustrious journey. From his early brilliance at Madras Christian College to his advanced studies in public administration at Harvard University, Seshan’s path reflected rare determination and intellect. Joining the Indian Administrative Service in 1955, he built a reputation as a no‑nonsense officer committed to efficiency and honesty, serving in key roles such as Secretary of Defense and overseeing vital national programs.
As the Chief Election Commissioner of India in 1990, T.N. Seshan sparked a new era of electoral integrity. In a system once marred by corruption, violence, and malpractice, Seshan brought order, fear, and respect through his groundbreaking reforms. He introduced voter ID cards, imposed strict spending limits on campaigns, and insisted on transparency at every level of the election process. Despite criticism from political circles that labeled him dictatorial, his relentless pursuit of fairness empowered every citizen to vote fearlessly. Under his leadership, the Election Commission became a symbol of strength and integrity in Indian democracy.
Seshan’s passing in November 2019 marked the end of an era, but his message continues to resonate across generations. Leaders from every corner of the country mourned the loss of the man who restored faith in free and fair elections. His enduring legacy reminds us that true leadership lies not in wielding power, but in serving people with honesty, courage, and conviction. T.N. Seshan’s life remains a timeless inspiration a reminder that democracy thrives only when its citizens are vigilant, responsible, and fearless.
Leaving behind a high-paying job at JPMorgan, an Indian entrepreneur embraced a 70% salary cut to pursue true purpose and passion in the startup world. Disenchanted with what he described as a “robotic” corporate routine, he sought meaningful work that made a real impact. This pivotal decision marked the beginning of his new journey, one focused on value creation rather than titles and corporate perks.
Powered by resilience and fresh perspective, the entrepreneur launched his own startup, prioritizing innovation and hands-on solutions. The road was challenging, but his vision resonated with the market: the startup quickly gained traction and raised $6 million—an impressive acknowledgement of its potential in a competitive landscape. Every hard lesson from early setbacks and bootstrapping paid off in real customer growth and investor confidence.
Today, his journey stands as an inspiring example for professionals seeking authentic success outside the corporate grind. By trading comfort for creative freedom, he grew a venture that solves important problems, generates jobs, and builds wealth beyond just salary. For ambitious founders, his story highlights the power of risk-taking, adaptability, and relentless focus on impact in India’s thriving startup ecosystem.
Larry Page is a visionary technology entrepreneur and co-founder of Google, one of the world’s most influential companies. Born in 1973 in Michigan, Page grew up surrounded by computer technology, which inspired his passion for innovation from an early age. He studied computer engineering at the University of Michigan and later pursued his PhD at Stanford University, where he developed the revolutionary PageRank algorithm with Sergey Brin. This technology fundamentally changed the way search engines rank websites, making Google the most accurate and popular search engine globally.
The journey of Larry Page and Google began in 1998 when they officially launched the search engine from a small garage. Leveraging their unique algorithm, Google quickly surpassed competitors due to its ability to deliver highly relevant search results, transforming internet search forever. Under Larry Page’s leadership as CEO, Google expanded beyond search to launch groundbreaking products including YouTube, Gmail, and Google Maps, turning it into a global tech powerhouse that shapes how we access and interact with information online.
Larry Page later became the CEO of Google’s parent company, Alphabet Inc., driving innovation and investment in next-generation technologies such as artificial intelligence, autonomous vehicles, and healthcare solutions. His visionary leadership and commitment to technological advancement have cemented his legacy as one of the most influential figures in the tech industry. Today, Larry Page remains a key influencer in shaping the future of technology and digital innovation worldwide.
Paytm Grants ₹16.7 Crore ESOPs To Employees Under 2019 Stock Option Plan
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