CEO of Panasonic Joe Taylor discusses the meaning of corporate culture and its recent shift within their organization. Taylor describes culture as “the atmosphere of the organization, dictated by the management team”, being part of the management’s style, and the direction that management supports. Taylor shares how Panasonic is shifting their culture to adapt to the change in the company’s product and service offerings. In the past, Panasonic excelled in providing products for consumers, but has shifted their focus to solution sales to consumers and the corporate community as well, changing their culture and the customer experience.
Taylor talks about how it is essential for companies to take the time to listen to their customer instead of telling them what they need; an old tactic proved true years ago but has since changed. In today’s society, companies are not interested in just products, but look for solutions, a new focal point that Panasonic. Taylor shares the company’s experience with one of their partners AEG, the largest owner and manager of sports and entertainment venues. About 4 years ago, AEG contacted Panasonic interested in using their technology for their venues’ security cameras. Taylor then sent a team to look into the client’s needs and suggested they look at this request “with different eyes”. This meant, taking a much broader perspective of what AEG was doing, and looking at their true needs in a deeper way. After much analysis, Panasonic saw AEG wanted to create an experience that would keep their customers come back time and time again. The end result was a partnership with AEG that included providing and servicing their technology, ranging from security equipment, to their broadcast studios, scoreboards, LED ribbons and other business solutions. The key to this was Panasonic not only satisfying the customer’s initial need, but looking for additional opportunities to satisfy and exceed the customer’s expectations. Taylor stresses that if companies use this tactic with new customers, they will create richer, and more fortified customer experiences. Access this week’s episode on demand now!