Upgrade to Pro — share decks privately, control downloads, hide ads and more …

Business Essay in the August 2023 issue of Wase...

Tetsuya Sogo
September 01, 2023

Business Essay in the August 2023 issue of Waseda Mail Magazine

My business essay reflecting on my experience for over 40 years at a Japanese manufacturing company was published in the August 2023 issue of Waseda Mail Magazine hosted by Professor OHNO, Faculty of Science and Engineering.

Tetsuya Sogo

September 01, 2023
Tweet

More Decks by Tetsuya Sogo

Other Decks in Business

Transcript

  1. e-OHNO Mail News 2023 年 8 月号 シニアの部 エッセイ <グローバル化の流れの中で私が学んできたこと>

    1982年学部卒(尾関研)の十河哲也と申します。この度、大野先生からシニアの部のエッセイ執筆を仰せつかりました。私は大 学卒業後、製造部門のエンジニアとしてNTN 株式会社という自動車や産業機械用の軸受や部品を製造販売する大阪本社の メーカーに就職し、2011年から役員として米州地区を中心に経営に携わり、2020年から CFO として 3 年間、NTNの経営再建 に取り組んだ後、2023 年に 63 歳という役員定年ガイドラインに従って退任したところです。この機会に、41年という随分⻑い 間、 同じ日本メーカーで働き続けた私のようなOBが、企業経営に関して何を学び、どのように考えてきたかについて記述して みたいと思います。 29 歳の頃、私はアメリカのシカゴ近郊でチーフエンジニアとして自動車用HUB ベアリン グを生産する新工場の立ち上げメン バーの一人として参画し、1989 年から1996 年の 7 年半、初めての海外勤務を経験しました。日本から 当時の最新鋭の生産 設備と技術を導入しましたが、生産性は日本のマザー工場よりかなり低いという状況に苦しみながら、従業員のスキルが低い、 欠勤率、退職率が高い等の問題に直面しました。一体、何が本質的なマネジメ ントの問題であり、何を変えねばならないのだ ろう、ということで変革に向けた色々な試行錯誤を繰り返しましたが、 結局は『現地の人材のやる気を最大限に引き出すための 納得性の高い公正な評価と処遇』が必要不可欠、すなわ ち『人の行動は自分がどのような基準で評価、処遇されるかによって 大きく変わる』ということを学びました。当時の 曖昧な人事考課と給与体系を刷新し、スキルとパフォーマンスを誰もが納得でき る形で客観的、公正に評価し、それを給与に明確に連動させることで従業員のモチベーションが向上し、工場全体が活性化し て赤字が続いていた会社が1 年後には急に黑字になるという自分でも驚くような結果になりました。この経験がエンジニアとして の単なる技術指導よりも、いかに従業員の学習意欲を高め、やる気を出させるシステムを設計することが重要か、当時MITの ピー ターセンゲという教授が提唱していた『ラーニングオーガニゼーション(学習組織)』の重要性を強烈に認識した私の原点と なりました。 この新給与体系導入に当たり、なぜ評価システムを変えるのか、何を目指すのか、企業理念やビジョンとの整合性 とともに会 社としての考え方、ポリシーを全従業員との直接対話で 説明しましたが、この徹底的な対話がその後の成果に結びつくキー だったと思います。英語は下手でも、何が言いたいのか、言いたいことがパッションとともに全身から伝わる、流暢な英語よりも 人の心を動かす英語が必要、オープンな心と変革への情熱なくして、どんなに英語が 上手でも全く意味がない、ということを学 びました。工場の従業員はアメリカ人といってもアメリカで生まれてアメリカ で教育を受けた人だけではありません。メキシコから 来た人、中国、インド、ロシア、エチオピア、ベトナム等、それこ そ世界中の人が一緒に働いていました。したがって、基本的 に、日本のように『あうんの呼吸』は通じません。日本で は小学校の頃から、先生に『相手の立場に立って考えなさい、自分が 相手の立場であったらどう思うかを考えなさ い』とよく言われましたが、そもそも生まれ育った環境や考え方が違う場合、自分が こう思うから相手も同じように感 じるだろうという考えはむしろ危険でした。年齢差別の問題やアファーマティブアクション(少数 ⺠族や女性に対する 差別是正のための優遇措置)への対応は、特に日本人にとっては注意が必要でした。 当時は、米国の製造現場で色々な試行錯誤を繰り返しながらも、同時にアメリカ流のマネジメントを学びたくて、 1994 年から 1996 年の 2 年間、仕事をしながら週末にノースウエスタン大学のケロッグ経営大学院で MBA の勉 強をしました。 技術者の私 にとって、特に戦略論、ファイナンスやマーケティング等、非常に新鮮で『目から鱗』という 経験でした。入学面接は一流ホテル のような Executive MBA専用の校舎でインタビューを受けました。丁重にエレ ベーターに案内され、アシスタントディーンと書 かれたオフィスに通され、そこでエリカさんという女性に迎えられました。最初は秘書の方かなと思いましたが、この人がアシスタ ントディーンでした。試験官が何人かいて、その前に私 が座らされて難しい質問をされることを勝手に想像していましたが、豪 華な応接室で『コーヒーにしますか、紅茶にし ますか』、『私はこれから1 時間、あなたの話を聞きます』と言われて、その場で コーヒーを飲みながらの1 対 1 の面接が始まりました。予想していた面接と全く違った、こんな面接試験は受けたことありません でしたが、考えてみれば、いきなり一定の時間を与えられ、何をどのように話すかも含めて全く自由に話をさせることで、その人 物の色々な面が見えるのだろうと思います。エリカさんは基本的に何の質問もせず、ひたすら私の話すことをメモしていました
  2. が、自分の言いたいこと、自分の思いや熱意を1 時間なら 1 時間、短い場合は90 秒なら90 秒というような限られた時間で、伝 えるべき相手に確実に伝えるということは、特にグローバルに仕事をする上で極めて重要なことなのだと いうことを、その後の NTNでの仕事の中で何度も経験することになりました。自分の考え方や方針について、相手の レベルに合わせて相手が理解

    し、心底納得できるようなストーリーとして伝えることは、経営のプロとしての必須スキルであると思います。最後に、エリカさんは 『正式には教授会で書類審査とともに合否が決まりますが、あなたは多 分合格でしょう』と言ってくれました。このエリカさん、私 より少し年上の颯爽とした⻑身の女性でした。そういうこと で、この MBAコース入学の直前に生まれた⻑女の名前をエリカにし ました。 その⻑女も今では社会人なので随分昔の話ですが、今でもこの面接は強烈に印象に残っています。 このケロッグ経営大学院を卒業して 1996 年に日本に帰ってからは 2011 年の 2 度目の 渡米までの 15 年間、本社の経営企画 部で中期経営計画の策定とともに、特にグローバルアライアンス、クロスボーダーM&A等に集中的に取り組み、相手側とのあら ゆる知恵比べ、 駆け引き、本音の探り合い等、物事を裏から、斜めから見ながらの交渉 を経験してきましたが、やはり最後は交 渉相手との相互理解と信頼関係を築けるかどうか、これ無くしてアライアン スは成功しない、ということを痛感しました。中期経 営計画においても大事なのは競争戦略や理論体系だけでなく、 いかに各部門、各地域に納得性を持って動いてもらえるか、 結果を出すためには、いわゆるファシリテーションが重要であるということを学びました。これを怠ると、特に事業部門からは『自 分ではやらない口先だけの部門』と思われがちな経営企画部のような本社の中枢部門がグローバルな求心力と遠心力を有効 に働かせることは不可能である と考えます。 2011 年から 2018 年までの 7 年間、2 度目の米国赴任においては、米州地区総支配人として、特に経営という正 解の誰にも わからない判断を、南米も含めた米州地区全体において、 異文化の中で日々行わねばならない状況の私にとって、言葉には 表しにくい組織の状況、雰囲気を色々な交流の中から感じ取る能力が非常に重要であると感 じていました。現地にて 日々直 面する課題は全てコンピュータのように論理的に分析して正解を導き出せるようなこ とではなく、その場その場で総合的により 良い判断を迅速にしてゆく必要があり、そのためには本質を的確に感じとる能力、センスを磨かねばならず、 face to faceのコ ミュニケーションが必要不可欠でした。MBAの授業では、戦略論、マーケティング、ファイナンスというような科目は人気が高く、 名物教授も多かったので気合を入れて学びました が、一方、 組織論、HR (人材マネジメント)などは当時はあまり人気がありま せんでした。しかし、組織論や HR、こ れらは歳を取るほどジワジワ重要性を増してくるような気がします。若い頃の米国赴任に おいては、ひとつの製造会社の現場で働く従業員のやる気をいかに引き出すか、そのための変革に色々挑戦しましたが、2 度 目の米国赴任 においては南米も含めた米州地区全体の組織強化に向けて経営上層部のローカライゼーションが大きな課題 であり、各国のマーケットを一番知る人材に事業拡大を託してゆかねばなりませんでした。日本から出向者は何のため に海外 に来ているのか、なぜローカルで対応できないのか、ということを明確にする必要がありました。日本人どうし のやり取りは非常 に楽で居心地が良く、現地化は言葉の問題も含めて非常に疲れますが、全拠点における従業員 とのタウンホールミーティン グ、ミドルマネジメントに対するリーダーシップ研修、ケロッグ経営大学院との連携による 経営者教育等を繰り返し推進し、これ をやらねば将来は無いとの認識でした。グローバル化とは、『現地の優秀な人材をモチベートして存分に実力を発揮してもらう こと』という私の信念は最初の米国赴任時から一貫して、益々強固 なものになっていました。人と人との部門を超えた密接な情 報交換をベースにクロスファンクションで効果的に機能できる、ブラインドスポットの発生しない緻密な組織、トップダウンだけで なく、日本流のミドルアップダウンマネジメン トによるグローバルな学習組織を実現したいと考えておりました。 米国から帰国直後には、当時の戦略本社としての経営戦略の欠除、及び経営管理(FP&A)機能の杜撰さによる危機的な連結 財務状況を目の当たりにして、特に日本における莫大な減損処理とともに、CFOとしてグループ全体の企業価値再生計画の策 定、推進とそれを支える資金調達が急務でした。私が徹底して推進した NTN の抜本的な 変革は、(1)全ての顧客を満足させ ようとする考え方からの脱却による Pricing Power の向上(商品/事業ポートフォ リオ改革)、(2)棚卸資産の過大さからの脱却によ るCash Conversion Cycleの短縮(生産・物流改革)、(3)社内での 技術蓄積に偏りすぎる自前主義からの脱却による Strategic Partnership の強化(調達改革)、の3 点に集中しました。 この再生計画の本質を各地域がしっかりと納得した上で、各地域ごと にそれぞれの経営環境の変化に迅速に対応しながら自律的に事業計画が遂行、フォロー、修正されねば成果は見込めず、本 社と各地域のコミュニケーショ ンと連携が必要不可欠でありました。そのための共通言語として、資本コストの概念導入による投 資の判定基準や 事業価値の評価基準の明確化と徹底をはじめとした企業財務(Corporate Finance)の視点を導入、展開すると ともに、バラバラに機能していた本社の財務本部、経営企画部、及び各事業本部の事業企画部という統括部門間のコ ミュニ ケーションと連携強化、一体化によるグループ全体の CFO 組織としてのFP&A 機能向上を目指しました。毎年、各年度におけ るグループ全体の経営方針徹底のため、社内外に CFO メッセージを発信しながら各地域の経営 幹部や株式市場、金融市場 とのコミュニケーションにより企業価値再生に向けた社内の変革推進と社外の信頼獲得を自らの最重要課題と位置付けること で、コロナ禍、半導体不足、ウクライナ情勢、原材料費の高騰という逆風の中において、着実な財務体質の強化と株価の回復 を目指しました。経営の厳しい状況とその打開策としての変革の 重要性をしっかりとグループ全体、特にミドルマネジメント層に 納得してもらい、変革に向けて力を発揮してもらうこと の重要性と難しさを再認識した CFO としての 3 年間でした。
  3. ***** English Translation ***** e-OHNO Mail News issued in August

    2023 Essay for the senior section <What I have learned in the trend of globalization> I am Tetsuya Sogo, a 1982 undergraduate (Ozeki lab), and have been entrusted by Professor Ono to write an essay for the senior section of Waseda Mail Magazine. After graduating from Waseda university, I joined NTN Corporation, headquartered in Osaka, a manufacturer involved in producing and selling bearings and components for automobiles and industrial machinery, where I started to work as an engineer in the manufacturing department. From 2011, I held positions as an executive officer, primarily overseeing NTN Americas region. After working as CFO for three years since 2020, focusing on NTN's business revitalization, I have just retired in 2023 in accordance with the executive retirement age guideline of 63 years old. In this opportunity, I would like to describe what I, as an alumnus who worked for the same Japanese manufacturer for 41 years, have learned and how I have thought about corporate management in the trend of globalization. At the age of 29, I participated as a member of the launch team for a new factory producing HUB bearings for automobiles in the outskirts of Chicago, USA, serving as a chief engineer. From 1989 to 1996, for a period of 7 and a half years, I experienced my first overseas assignment. While introducing state-of-the-art production facilities and technology from Japan at that time, we struggled with significantly lower productivity compared to the Japanese mother factory. We faced challenges such as low employee skills, high absenteeism, and high turnover rates. In an effort to bring about transformation, I repeatedly experimented with various approaches, reflecting on what constituted the core management issue and what needed to change. Ultimately, I learned that a “highly just evaluation and treatment that resonates with local talent to maximize their motivation” is essential. In other words, “people's behavior changes significantly based on how they are evaluated and treated.” I revamped the vague personnel evaluation, pay and treatment system of that time, objectively and fairly evaluating skills and performance in a way that everyone could agree upon, and clearly linking it to compensation. This led to improved employee motivation, and within a year, the entire factory, which had been in the red, astonishingly turned profitable. This experience made me realize the importance of designing systems that enhance employees' willingness to learn and motivation to improve, more than just providing technical guidance as an engineer. It became the cornerstone of my recognition of the significance of “Learning Organizations”, a concept advocated by Professor Peter Senge of MIT at that time. In the process of introducing this new employment system, I explained the company's perspective and policies, aligned with our corporate values and vision, through direct dialogue with all employees. I believe that such dialogue was the key to the success that followed. I learned that even if my English was not good, I was able to convey what I wanted to say with passion from my whole body, that I needed English that would move people’s hearts rather than simply fluent English, and that fluent English was meaningless without an open mind and passion for change. Factory workers are especially diverse. Even though they are Americans, not all of them are born and educated in the United States. People from all over the world—Mexico, China, India, Russia, Ethiopia, Vietnam, and
  4. so forth—were working together. Therefore, basically, “a-un no kokyu” (communicating

    and agreeing with each other without exchanging words) does not work as it does in Japan. In Japan, from the time children are in elementary school, their teachers keep telling them to “think from the other person's point of view, and imagine how you would feel if you were in the other person's position”, but this method would not be effective if we were born and raised in a different environment or with a different way of thinking. It is rather dangerous to think that because you feel this way, the other person will feel the same way. Especially for Japanese managers, it was necessary to pay attention to the issue of age discrimination and affirmative action. At that time, I wanted to learn American management practices while undergoing various trials and errors in the manufacturing field in the United States. From 1994 to 1996, I worked while studying for an MBA at the Kellogg School of Management at Northwestern University on weekends. As an engineer, subjects like strategic theory, finance, and marketing provided a fresh and eye-opening experience for me. The admission interview took place in a dedicated Executive MBA building resembling a top-class hotel. I was courteously guided to an office labeled “Assistant Dean”, where I was welcomed by a lady named Ms. Erica Kantor. Initially, I thought she might be a secretary, but she turned out to be the Assistant Dean. Instead of facing a panel of interviewers and expecting challenging questions, I was offered coffee or tea in a luxurious reception room and told, “I will listen to your story for the next hour.” This unexpected one-on-one interview began as I sipped coffee. This interview was completely different from what I had anticipated, and though I had never experienced such an interview before, in hindsight, I believe that providing you with a certain amount of time to freely express yourself, including how you convey your thoughts, allows various aspects of your personality to emerge. Erica mainly took notes of what I said without asking many questions. However, the idea of conveying one's own thoughts and passion within a limited time frame, such as an hour or even just 90 seconds, to ensure effective communication with the recipient, turned out to be an essential skill for working globally, as I repeatedly experienced during my work at NTN afterwards. Tailoring my way of thinking and approach to the level of my counterpart, making them understand and genuinely agree, and presenting it as a compelling story, are crucial skills for a management professional. Finally, Erica told me, “Officially, the final decision is made by the faculty after document review, but you will most likely pass.” Erica, a slightly older than I and elegant tall woman, gave me these words of encouragement. I named my first daughter, who was born just before I entered the Executive MBA program, “Erica” after her. My first daughter is now a working adult, so my interview with Erica was a long time ago, but it still left a strong impression on me. After graduating from the Kellogg School of Management, I returned to Japan in 1996. For the 15 years leading up to my second trip to the United States in 2011, I worked in the headquarters' management strategy department, focusing on developing medium-term management plans. During this time, I concentrated particularly on global alliances, cross-border M&A, and engaged in negotiations that involved various forms of intellectual sparring, tactics, and probing for genuine intentions, experiencing negotiations from behind the scenes and oblique perspectives. However, I came to realize that ultimately, the success of alliances hinges on the mutual understanding and trust established with negotiation partners. In the context of medium-term management planning, I learned that it's crucial not only to have competitive strategies and theoretical frameworks, but also to ensure that every department and region is motivated with a sense of conviction. To achieve results, I understood the importance of facilitation. Neglecting this aspect could lead to the headquarters, often perceived by business divisions as merely a department of empty words, being unable to effectively harness both global centripetal and centrifugal forces. In my second assignment to the United States for seven years from 2011 to 2018 as CEO of NTN Americas Region, I had to make decisions on a daily basis in a cross-cultural environment, especially in the entire Americas region that included South America, where no one knew the correct answer to management questions. I felt that it was very important to have the ability to sense the situation and atmosphere of an organization, which was difficult to express in words, through various interactions. All of the issues that I faced on a daily basis in the field were not something that could be analyzed logically like a computer that finds the correct answer. Rather, I needed to quickly make a better overall decision on the spot, and to do so, I had to polish my ability and sense to accurately perceive
  5. fundamental issues, and face-to-face communication was essential in doing so.

    In the MBA program, subjects such as strategy, marketing, and finance, were very popular, and there were many famous professors, so I put a lot of energy into studying them. On the other hand, subjects such as organizational theory and HR, were not so popular at that time. However, I feel that organizational theory and HR are becoming more and more important as I get older. During my assignment to the United States back when I was young, I challenged myself to make various changes to motivate the employees at a manufacturing company. In my second assignment to the United States, on the other hand, localization of upper management was a major issue to strengthen the organization in the Americas, including South America. So I had to entrust business expansion to the people who knew the markets of each country the best. For the Japanese people on overseas assignment, it is necessary to clarify why things cannot be conducted locally. It is easy and comfortable for Japanese people to communicate with each other, while localization is very tiring due to the language problem among other difficulties, but I repeatedly promoted town hall meetings with employees at all locations, leadership training for middle management, and executive development programs through collaboration with Kellogg School of Management, recognizing that without doing these, there would be no future. My belief that globalization is based on “motivating local talented people to fully demonstrate their abilities” has not changed at all since my first assignment to the United States. I want to realize a global learning organization that can operate effectively cross-functionally based on the close exchange of information between people across departments, a close-knit organization that does not generate any blind spots, by focusing on a middle-up-down management style that is indispensable to resolve the contradictions between ideal and reality in each working area. Upon returning from the United States, I witnessed a critical consolidated financial situation caused by the lack of strategic management direction from the headquarters at the time, as well as the poor leadership and management of Financial Planning and Analysis (FP&A) functions. Particularly in Japan, along with significant impairment charges, urgent actions were needed as CFO to formulate and drive a group-wide corporate value revitalization scenario, supported by necessary funding. I focused on three main aspects in the comprehensive transformation of NTN: (1) Enhancing “Pricing Power” by moving away from the approach of satisfying all customers (product/business portfolio reform), (2) Shortening the “Cash Conversion Cycle” by departing from excessive inventory (production/logistics reform), and (3) Strengthening “Strategic Partnerships” by moving away from an in-house focused technical accumulation (procurement reform). The essence of this “Revitalization Scenario” required each region's thorough understanding and autonomous execution, adapting rapidly to changes in their respective business environments, necessitating essential communication and coordination between the headquarters and regions. As a common language, the introduction and deployment of Corporate Finance perspectives, including criteria for investment assessment and business valuation through the concept of capital cost, were initiated. On the other hand, we improved collaboration and integration among the disjointed key central divisions, finance headquarters, management strategy department, and each business planning department. The aim of such activities was to enhance the FP&A function of the entire CFO organization globally. In order to enforce group-wide CFO policies, I positioned the communication, while sending my regular CFO messages, with internal and external stakeholders, such as regional executives, stock and financial markets, as crucial for the company's value revitalization. Under tough business situations caused by the COVID-19 pandemic, semiconductor shortages, Ukrainian tensions, and rising raw material costs, I directed efforts towards accelerating the financial and stock price recovery. Over the course of three years as CFO, I came to recognize the importance and challenges of gaining the full understanding and commitment of the entire group, particularly the middle management level, regarding the significance of the tough business conditions, the need for transformation as a solution, and their contribution of effort towards driving the changes.
  6. The attached photo is from my first visit this summer

    to the “Sogo castle ruins” in Kagawa prefecture, which my father used to talk about before his passing. During this visit, I paid respects at the graves of the samurai lords “Kazumasa Sogo” and “Masayasu Sogo” from the Sengoku period. I believe that the spirit of “Bushido” holds significant importance for today's leaders in Japan. Business executives must constantly introspect, ensuring they have nothing to be ashamed of, reviewing whether their actions and words might evoke customer discontent or cause embarrassment to their employees. This introspection forms the foundation of “Business Ethics” and “Corporate Social Responsibility”, and I firmly believe that it paves the way for the long-term growth and development of Japanese companies. Kazumasa Sogo, who was feared as “Demon Sogo”, prioritized the creation of a country where everyone could laugh together in peace over advancing his own position or expanding his territory. I heard from the chairman of Sogo family association that Kazumasa Sogo is still respected and loved in this local area, and this story reminded me of the importance of pursuing true “ESG management” and “human capital management” in corporate management, without merely following superficial trends of the world, or becoming a good boss who only shows pretended kindness. Listening to various anecdotes of great ancestors, I felt both ashamed of my own shortcomings and motivated by their admonishments.