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Konosuke Matsushita: The Founder & the Former CEO of Panasonic Corporation

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The story of the industrialist and the famous Japanese God of Management, Konosuke Matsushita, is nothing more than a roller coaster ride. The Japanese entrepreneur went through a lot of struggle and faced all type of conflicts, but, at last, emerged as the greatest leader, with its largest Japanese consumer electronics company Panasonic. The writer of four million sold copies of the Developing A Road To Peace And Happiness Through Prosperity and the inspiration of millions, Konosuke Matsushita was a true entrepreneur.

Early Life

Matsushita was born on November 27, 1894, in a Japanese village of Wasa. He belonged to an affluent family. His father was a landlord, primarily owned huge farmlands. Due to some bad investments, soon, the family went through a huge loss and had to give up all of their property. The family moved to a three bedroom apartment in the city and started working for their living. Matsushita received a standard schooling in the city.

Career

With the bad financial conditions, Matsushita could not continue his schooling and started working at a bicycle shop. The Shop went out of business, and his family sent him to Osaka, to do an apprenticeship at a hibachi store. Unfortunately, the store got shut within a year of his joining, and he had to look for another job. At the age of 15, he started working at Osaka Electric Light Company, an electrical utility company. During his job with Osaka Electric, he was promoted several times. After working for five long years with the company, he decided to take up another job, where he could also complete his education. But his father advised him to continue the same job and gain more experience in the field.

During his work at Osaka Electric Light Company, he had gained enough knowledge and experience, so that he invented a new and improved light socket in his spare time. He also introduced the idea to his boss, but his boss was not sure about the potential of the invention.

Founding Panasonic

At the age of 22, Matsushita got promoted as the electrical inspector of the company. In 1917, he decided to leave Osaka Electric and start his own firm, with the help of his wife and brother-in-law. Under the name of his company, he started producing the samples of his newly invented sockets, and approached various wholesalers, to sell his product. But, the new idea could not impress the wholesalers. This caused him a huge loss, and his employees also left him. With his wife and brother-in-law, he continued working on the samples and received his first huge order of thousand insulator plates for electric fans. Being a better and an inexpensive product it gained popularity and wholesalers started trading the product and eventually, Matsushita launched Matsushita Electric Housewares Manufacturing Works on 7 March 1918, that later became Panasonic in future.

Konosuke Matsushita
Image Source: entrepreneurhalloffame.com

In the mid-1920s, Matsushita came with the idea of battery lamps for bicycles, as at the time, the bicycles used to have oil and wax lamps, that could be lighted only for 3 hours.

With the time, Matsushita became more focused on the marketing of the products, that proved to be a big contribution in raising the sales of his company. By 1929, he managed to establish his company among other Japan’s electrical manufacturing companies and opened a few sales branches in some other places across the country.

In the beginning, he produced the products with brand name National and developed many affordable electric appliances. Those appliances included electric iron, battery lamps, and three-tube model radio, etc. In 1940, during the second world war, Matsushita was forced to sign government military contracts. Those contracts helped him establish Matsushita Shipbuilding Company and the Matsushita Airplane Company. Although with these big achievements, due to the war, Matsushita lost 32 of his manufacturing factories and sales offices situated in the various parts of the country.

In 1951, during his tour to the USA, he realised that in order to help Japan recover from all the losses of the second world war, adoption of advanced Western technology was essential. In 1952, Matsushita signed a contract with Philips of the Netherlands. The company saw huge growth between the time of 1950 to 1973 and introduced new home appliances to the Japanese customers. In 1973, he retired from all of his duties for Panasonic.

Personal Life

Matsushita was married to Mumeno Iue, who was a big support for him during his struggle period. Matsushita was always focussed on economic growth of people and has published 44 books based on his social and commercial philosophies. He received the Grand Cordon of the Order of the Paulownia Flowers in 1987. At the age of 94, on 27 April 1989, he died from pneumonia.

Ted Turner : The American Media Tycoon and Co-founder of CNN

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In every century, there comes a person who brings a revolution to the world and the world witness a new wave of development, after such revolutions. A similar person revolutionized the television industry from 1980 onwards. From starting a 24-hour news channel to broadcasting films, sitcoms and gifting the children with their favourite cartoon channel, this man named Ted Turner, is a television and media magnate.

Early Life

Born on 19th November 1938, in Cincinnati, Ohio, Ted Turner’s original name is Robert Edward Turner III. He was born to parents Robert Edward (Ed) Turner Jr. and Florence (Rooney) Turner. He was the eldest child in the family. His father owned a company, Turner Advertising, which sold billboard ads. His father suffered from bipolar disorder, experiencing mood swings, and vented out his anger on young Ted. After years Ted found out that he too suffered from bipolar disorder just like his father.

Ted was left alone in the Cincinnati boarding school after his father signed up for Navy when World War II broke out. Ed came back after the war and moved to Savannah, Georgia, with his family. He enrolled Ted into Georgia Military Academy. Ted attended McCallie boarding school, in Chattanooga, Tennessee, where he received military training. He wanted to attend the United States Naval Academy, but his father wanted him to attend Harvard. Due to low grades, he had to join the Brown University, in 1956. In 1959, Ted was kicked out of the University for having a woman in his dorm room. He could not earn his diploma and the same year his parents, too, got divorced.

The beginning of Business Career

Ted, then came back South, in 1960, and took up the position of general manager at his father’s company. He was the general manager of Macon, Georgia branch of Turner Advertising. Just in his first year, Ted showed tremendous growth and doubled the revenue of the company. But soon, the company was in a difficult financial condition, when his father bought the company’s competitor, in 1962. This led him into depression and he committed suicide, in March 1963.

Ted Turner
Image Source: Forbes

After this shocking incident, Ted engrossed himself more in work. He took the positions of president and CEO at the age of 24, and consequently, made the company a global enterprise. The company boosted in financial profits and was considered to have a monopoly in Savannah, Macon, Columbia, and Charleston. In 1969, Ted bought several Southern radio stations and renamed the company as Turner Communications. He sold the radio stations and purchased a couple of struggling television stations. By 1970, Ted Turner became famous as the owner of the largest advertising company, in the southeastern United States. His investment in television channels proved highly profitable as he believed that people wanted several choices. He also purchased rights to old movies, sitcoms, and some cartoons.

But it was in 1976, that a big leap occurred when the FCC gave him the permission to use satellite technology to transmit content to local cable providers. This led Turner to reach an even larger audience. Now, with more audience base and even more broadcasting options, Turner changed the company’s name yet again to Turner Broadcasting Company. He was constantly on the lookout for new business ideas and expanding his broadcasting to larger and larger audiences. It was in the late 1970s when he came up with an idea of starting a 24-hour news network. And in 1980, he launched Cable News Network (CNN) with the help of Reese Schonfeld who was then appointed as the first president and chief executive officer of the channel.

Throughout the years, Turner was constantly investing to expand his business horizon. In 1976, Turner acquired Metro-Goldwyn-Mayer (MGM), and in 1992, he launched Cartoon Network, which went on to grow one of the most famous cartoon channels, all over the world. In the same year, he launched Turner Network Television and Turner Classic Movies, which made him the leader in both television and internet fields. In 1996, he sold his company to Time Warner for a whopping $7.5 billion. He ventured into yet entirely new business just the next year i.e. a steakhouse serving bison named Ted’s Montana Grill.

Personal Life

Ted Turner married three times and is divorced all the three times. He is the father of five children from his first two marriages. Two from his first wife, Judy Gale, and three from his second wife, Jane Shirley Smith. His most famous marriage was with the actress Jane Fonda, that lasted for ten years and broke over religious disagreements. He is known as the individual owner of largest land in North America.

Robert Noyce : Co-Founder of Intel & Co-Inventor of the Integrated Circuit

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A scuba diver, a pilot, an inventor and what not? Known as the Mayor of the Silicon Valley, the legendary inventor Robert Noyce made his mark in the history of Semiconductors. Noyce was a sharp student and had shown his traits as an inventor, from his childhood. From building a boy-sized aircraft to creating a transistor from scratch, he always loved playing with machines. Having a sharp mind, he also gained the name Rapid Robert from his classmates. This remarkable physicist had brought a revolution in the field of personal computers with its the first integrated circuit and gave Silicon Valley its name.

Early Life

Robert was born to Rev. Ralph Brewster Noyce and Harriet May Norton, on 12 December 1927, in Burlington, Iowa. He was the third of his three siblings, Donald Sterling Noyce, Gaylord Brewster Noyce and Ralph Harold Noyce. Noyce was a brilliant student, and was also, good at other co-curricular activities like sports, acting and singing. He completed his high school from Grinnell High School and enrolled himself into the physics course in Grinnell College. During his school days, he excelled in mathematics. Later, he joined MIT and received a PhD in solid-state physics in 1953.

Early Career

During his PhD, Noyce found his interest in transistors. After the completion of his PhD, he joined Philco Corporation in Philadelphia as the research engineer. In 1956, he left the job at Philco and joined the Shockley Semiconductor Laboratory in Mountain View, California, owned by the co-inventor of transistor and Nobel prize winner, William Shockley. He worked there for a year and left the company with the infamous ‘traitorous eight’ on having a dispute with William Shockley, on his way of working.

Founding Intel

After quitting the Shockley Semiconductor Laboratory, he co-founded a semiconductor company named Fairchild Semiconductor, with Sherman Fairchild, the owner of Fairchild Camera and Instrument, in 1957. At Fairchild Semiconductor, Noyce co-invented the first Integrated Circuit built with Silicon. During the invention of this IC, he also developed a planar process, that made it easy to develop the transistors at a lower cost.

Robert Noyce
Image Source: thefamouspeople.com

Working for 9-long years, Noyce left the Fairchild Semiconductors and co-founded NM Electronics, with his former co-worker, Gordon Moore, from Shockley Semiconductor Labs, in 1968. Later, NM Electronics was renamed to Intel Corporation. Noyce served as the President of Intel till 1975 and in 1978, chaired the board of directors of Intel, till 1978.

The team intel invented the first commercially successful product, the 3101 Schottky bipolar 64-bit static random access memory (SRAM) chip, in May 1969. In 1971, Intel made the first single-chip microprocessor in the world, that made Intel more famous, that ignited the personal computer revolution.

Noyce was popular for his working style and employee administration, that was the main reason of his leaving the Shockley Semiconductor Labs. He provided the employees with rewards and bonuses to encourage teamwork. He created a relaxed working environment for the employees, and avoided any type of luxuries, to maintain equality among every employee.

In 1978, he left Intel and joined the Semiconductor Industry Association (SIA) as the chairman. In 1988, Noyce decided to get retired and established an association named SEMATECH, a semiconductor manufacturing consortium with the help of SIA and held the position of the President of the company.

Personal Life and Death

Noyce married Elizabeth Bottomley in 1953 and had four children with her. The two got divorced in 1974. Noyce on 27 November 1974, got married to Ann Schmaltz Bowers, who became the first Director of Personnel for Intel Corporation.

On 3 June 1990, Noyce died of heart attack, at the age of 62.

In his life, Noyce kept himself busy in various inventions and got his name recorded as a great inventor. He received many awards for his contribution to the technology, including the Stuart Ballantine Medal in 1966, IEEE Medal of Honor in 1978, National Medal of Science in 1979 and National Medal of Technology in 1987.

Hugh Herr: The Leader of the Bionic Age

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There have been many scientists whom inventions by mixing the technology and biology has helped the humankind to achieve the things that were unimaginable at some time. The technology has become a helping hand for those who have born with disabilities or have got one due to some mishappening. Hugh Herr is one extraordinary person, who was born like any other fit person, but misfortune hit him bad. Even though the doctors had given up on him, he overcame his disability by inventing the perfect aid for himself, which now is also helping others as well.

Early Life

Herr was born and brought up in Lancaster, Pennsylvania, in a Christian family. In the beginning, he was not much into studies and found his love for rock climbing at an early age. At the tender age of 8, he climbed the face of Mount Temple (11,627-foot high) and became the best climbers in the United States, when he was just 17.

The Climb

In January 1982, with a fellow climber Jeff Batzer, Hugh caught into a blizzard, while climbing the Mount Washington, in New Hampshire. Due to the snowstorm, the two lost their ways and spent three nights into the Great Gulf, at a temperature of ?29 °C. On the fourth day, the rescue team found and saved them. Spending three days at such a lower temperature caused them major injuries. Due to the frostbite, Hugh was amputated below both of his legs and Jeff got his left leg, fingers of his right hand and the toe on his right foot, amputated.

Hugh Herr
Image Source: bostonmagazine.com

Hugh went through a number of surgeries. The doctors could do everything but give him another pair of legs. Hugh could not climb the mountains anymore and had to be dependent on others. He could not accept that and, his love for mountaineering, made him create a specialized prostheses feet for himself. The prostheses feet helped him not only walk but, were also capable of ascending steep ice walls efficiently.

With time, Hugh managed to create a pair of feet that had toes with a high stiffness that could stand on a small rock of the size of a coin. He even scaled many, difficult to reach, mountains with the help of those titanium feet. Soon, he regained the title of the best climber of the US once again.

Career

Along with making improvements in his prostheses feet, Herr joined college and received a graduate degree in Physics. He then attended MIT, to pursue a degree in Mechanical Engineering and received a PhD in biophysics from Harvard University.

After obtaining his Doctorate degree, he started working on advanced leg prostheses and orthoses, at MIT. He headed the Biomechatronics research group at the MIT Media Lab. The group focusses on creating more functional and comfortable wearable robotic emulating devices for the disabled people.

Hugh founded BionX Medical Technologies, Inc. also known as iWalk, Inc. In 2006, that create devices that emulate and serve to supplement the human functionality. His company manufactures the computer-controlled assistive devices to aid the disabled persons.

Hugh Herr is a true achiever, and his story is an inspiration for many. He has received numerous awards for his contribution to Science and Technology, including the 13th Annual Heinz Award in 2007, and the Popular Mechanics Breakthrough Leadership Award, in 2005.

Personal Life

Hugh is married to Patricia Ellis Herr, who is an author by profession. The couple has two daughters together. At present, Herr is working as the associate professor in MIT’s Program in Media Arts and Sciences. In 1991, Osius, Alison wrote his biography with title Second Ascent: The Story of Hugh Herr.

Enzo Ferrari : The Founder of Ferrari Automotive Comapny

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When we see through the life journey of the successful people, most of them did not have an easy life. The hurdles and struggles, they faced, made them strong and they kept working towards their dream. One such personality, Enzo Ferrari was the man who brought himself out of all the problems and controversies. He created history by putting his share in the world of car racing and manufacturing some of the fastest luxury sports cars.

Early Life

Enzo Ferrari was born as Enzo Anselmo Ferrari, to Alfredo and Adalgisa Ferrari, in Modena, Italy. He was born on 18 February 1898, but his birth certificate has recorded his birthday as on 20 May, since his father got stuck in a heavy snowstorm and the registration got delayed for two days. His father operated a workshop fabricating metal parts. He had an older brother named Alfredo Junior. In 1916, he lost his father and brother, due to a viral Italian flu. The death of his father and brother shattered him completely and he became responsible for his household.

During the world war 1, he joined the Italian Army and in 1917 and shoed mules for the 3rd Alpine Artillery Division. But, after suffering himself too with a flu pandemic in 1918, he was discharged from his service.

Racing Career

When Enzo was just 10 years old, his father took him and his elder brother to Bologna, to watch a race, where he was introduced to Felice Nazzaro. After watching a few races, he was certain that in future he will become a car racer. But, the death of his father and brother, made him leave his studies and focus on earning money for his family.

After his exit from his job, in the Italian Army, the struggle, for him, started again. He even went for a job interview at Fiat, but there too, he was rejected. Finally, he joined another smaller car making company named as Costruzioni Meccaniche Nazionali, in Milan. He was appointed as the test driver. After working for some time, he was promoted as a car race driver and he was back on the track to achieve his childhood dream.

Ferrari debuted as a car race driver in 1919 Parma-Poggio di Berceto Hillclimb race, followed by the Targa Florio in the same year. In 1920, he joined Alfa Romeo and won his first car race, in 1924, the Coppa Acerbo at Pescara. He was promoted and was offered many other prestigious races. But, after the death of a fellow racer, Antonio Ascari, in 1925, he lost his confidence and until 1927, he did not participate in any other car race.

enzo-ferrari
Image Source: motor24

In 1929, he founded a race team named as Scuderia Ferrari, that included the superstar drivers Giuseppe Campari and Tazio Nuvolari. In 1932, Ferrari decided to retire as a car race driver, influenced by the birth of his baby boy Alfredo. He now wanted to focus on the management of his racing team. His Scuderia Ferrari was shut down in 1937 and he resigned from Alfa Romeo in September 1939. The company relieved him from his job, after signing an agreement that stopped him from using the name Ferrari in any of his racing or car ventures for next four years.

Founding Ferrari

In the same year, he left Alfa Romeo and started his own company Auto Avio Costruzioni, in his hometown, Modena. In 1940, he manufactured two cars, that he used in the Mille Miglia, and driven by Alberto Ascari and Lotario Rangoni. Due to the effect of the world war 2, he had to move his venture from Modena to Maranello, in the same year.

After the end of the agreement with Alfa Romeo, in 1947, he founded Ferrari S.p.A. He mainly manufactured the racing cars, and in1948 formed his own racing team that debuted in the Turin. The team’s major victory was in the 1949 24 Hours of Le Mans, with a Ferrari 166M.

Since the beginning of his company till his death, Ferrari made several racing cars and participated in many races with his team. He saw many accidents leading the deaths of his drivers and faced controversies related to them. But, his team always supported him saying that the deaths were never caused due to any mechanical failure in the vehicle. By the year 1952-53, he also started manufacturing cars for roads.

There is another incident that is an important part of Enzo Ferrari’s life timeline. Known as the Great Walk Out, the incident took place when many of Ferrari’s engineers, managers, sales managers and other key figures left the company because of Ferrari’s stubborn behaviour. Although, many of them regretted their decision later.

In 1969, Fiat bought the 50% shares in Ferrari. However, Ferrari had the 100% control over the racing activities. The deal also included the lifetime subsidy for Enzo.

The Logo

Ferrari has been using the prancing horse emblem as its logo since he started manufacturing cars. The emblem was created by his close friend and the famous Italian fighter plane pilot Francesco Baracca. It is said that Baracca gave a necklace with the prancing horse to Ferrari, just before his last flight, in which he was shot dead by an Australian fighter plane in 1918. In the remembrance of his friend, Ferrari used the prancing horse emblem as the logo of his company.

Personal Life

Ferrari was married to Laura Dominica Garello and had a son with her. He named his son after his father’s name Alfredo. Unfortunately, Alfredo also died after suffering from ill-health in 1956. His another son Piero, from his mistress, is serving as the vice-president of the Ferrari and owns 10% shares of the company.

Ferrari died at the age of 90, in 1988. Before dying, he witnessed the launch of one of the greatest road cars of that time, the Ferrari F40. The news of his death was disclosed after two days, as requested by Ferrari himself, as a compensation of the late registration of his birth.

Reid Hoffman : The Mind Behind the Largest Corporate Social Network

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Sometimes, it takes a long process for a person to understand and choose the right way that leads to his goals. Only a few can dream to help others achieve their dreams and bring out a positive change in the world. But if one truly wants to accomplish his dreams, he will find out a way. Same is the story of the infamous American internet entrepreneur and the venture capitalist- Reid Hoffman, who had initially dreamt about changing the world through his motivational speeches and eventually, reached out to a bigger platform and definitely have brought out his share of change.

Early Life

Reid Hoffman was born to William Parker Hoffman Jr. and Deanna Ruth, on 5 August 1967. He was born in Palo Alto, California and spent most of his childhood in Berkeley. He did his high school from The Putney School and earned his Bachelor Science degree in Symbolic Systems & Cognitive Science, from Stanford University. He was awarded a Marshall Scholarship and hence went to the Wolfson College, Oxford University to pursue a Master in Studies in Philosophy in 1993. He had also received a Dinkelspiel Award in his graduation from Stanford University.

Career

As a child, he always loved playing the tabletop roleplaying games. So in 1982, when he was just 12, he got his first job as an editor at a game developing company named as Chaosium. His work at the company was quite impressive, and in 1984, with the release of Chaosium’s ‘Borderlands’, a role-playing game, he got his name featured on its box, at the time he was just 14. He always wanted to become an influential person so that he can bring a change in the world. He had thought of becoming a professor. But soon he realised that writing books and reaching people can be a long way. So he diverted his mind towards entrepreneurship.

Reid Hoffman
Image Source: twimg.com

After graduating, he went to do an internship at Inglenook, a winery, followed by a job at Apple Computer. In Apple, he worked on a social network named as eWorld. After working for some time in Apple, he took a job at Fujitsu and in 1997, found his first company named as SocialNet.com. Soon after, setting up SocialNet.com, he joined PayPal as the COO, in 2000. His boss at PayPal, Peter Thiel says about Hoffman that he was a firefighter-in-chief at PayPal. At Paypal, he was responsible for most of the high-level jobs like payment infrastructure, government, legal issues, etc., that he handled efficiently under a great pressure.

Founding of LinkedIn

After eBay acquired Paypal, in 2002, Reid Hoffman co-founded LinkedIn, a professional social media network, with his old colleagues from SocialNet.com and Fujitsu. He also received some investment from his colleagues from Paypal, Peter Thiel and Keith Rabois. LinkedIn became a huge success and Hoffman became its founding CEO. Today, Hoffman holds a share worth $2.34 billion in Linked in and he serves as the Executive Chairman of the company. By 2014, LinkedIn had spread in more than 200 countries, with over 332 million members. In June 2016, Microsoft offered him an amount of $26.2 billion in cash for the acquisition of LinkedIn.

Investment, Writing & Motivational Speeches

LinkedIn was a huge success, after which, Hoffman found his interest in investment. He is one of the Angel investors, who are happily ready to invest in potential startups. It is said that Hoffman was the one who arranged the $500,000 angel investment meeting between Mark Zuckerberg and Peter Thiel. Along with Peter, he had also invested in Facebook initially.

Reid Hoffman always wanted to become a positive influence the for its betterment. His desire of becoming a motivational speaker and writing books was always alive. He started writing from local blogs, followed by his ‘LinkedIn’s Series B Pitch to Greylock: Pitch Advice for Entrepreneurs’ and ‘LinkedinInfluencr’ blogs on LinkedIn. In February 2012, he released his first book ‘The Start-Up of You’ with co-author Ben Casnocha, that became the bestseller in New York and was critically acclaimed. In July 2014, he came with another release, ‘The Alliance’ with Ben Casnocha and Chris Yeh.

Hoffman also started a podcast named as ‘Masters of Scale’ on 5 May 2017, where he discusses various counterintuitive business theories with successful entrepreneurs.

Personal Life

Hoffman got married to Michelle Yee, in 2004, and the two live in Palo Alto, California. Hoffman is also in Philanthropy and is a member of many NGOs. In 2016, he donated $20 million to a charity Biohub.