2502 Leadership Missteps: Reflections on Nissan and President Yoon Suk Yeol

 

Nissan has recently announced a significant reduction in its workforce, cutting 9,000 jobs, due to declining revenue forecasts for 2024. Analysts attribute this downturn to strategic missteps by the CEO and COO, including flawed business planning and an unappealing vehicle lineup.

Financial Times

In a parallel development, South Korean President Yoon Suk Yeol declared martial law in an emergency address, citing threats from North Korea and political obstruction by the opposition-led parliament. This drastic measure, executed hastily, was met with widespread protests and parliamentary opposition, leading to its revocation within hours. Commentators now anticipate President Yoon's potential resignation due to the backlash.

The New Yorker

These incidents raise questions about the absence of effective counsel and communication within leadership teams. It appears that both Nissan's executives and President Yoon may have disregarded dissenting opinions, leading to detrimental outcomes.

Nissan, as a leading global automaker, undoubtedly employs talented professionals capable of offering critical insights. Yet, reports suggest that the company failed to meet sales targets and made misguided manufacturing investments. This scenario mirrors the early 2000s, when Nissan underwent restructuring under Carlos Ghosn due to similar issues of pride and oversight.

As a small business entrepreneur, these events prompt self-reflection. Recently, I decided to engage a major marketing firm, Recruit, to address our stagnant social media marketing efforts. This decision was made unilaterally, without consulting my team, due to their limited expertise in this area. While outsourcing aims to allow my team to focus on their strengths, I recognize that top-down decision-making can lead to issues similar to those faced by Nissan and President Yoon.

I now realize the importance of inclusive decision-making and plan to address this in our next meeting or through a regular video message. I intend to apologize for not fostering collaboration and to emphasize the value of team input in our strategic choices.