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1、FortheexclusiveuseofC.LEETB0047January5,2009KannanRamaswamyRenault-Nissan:TheChallengeofSustainingStrategicChangeTwenty-sixyears!Twenty-sixyearsofdecline!Iwasamazed.Inacompanywhereyouhave26yearsofdeclineofthemarket,youhavealotofthingstodofirsttostop,thenreverse,the
2、trend.It’snotthatinacoupleofmonthsyouaregoingtofixthisproblem.Weknowitwillrequirenewproductsthatwearebringing[out],higherbrandpower,moremarketing,promotion,[and]advertisingskills.Mr.CarlosGhosninconversationwithBusinessWeek,April19,2000.So,isittimetowriteoffMr.Ghos
3、nasagiftedturnaroundartistwhobegantobelievehisownpub-licityandoverreachedhimselfwhenhetookontherunningofRenaultaswellasNissanin2005?Andisthemuch-toutedalliancebetweenthetwocompaniesreallysuperior,asheclaims,tothecarindustry’susualapproachofmergers,whichoftengowrong
4、anddestroyvalue?TheEconomist,September15,2007.EightyearshadflownbysinceRenaultandNissanhadannouncedtheirhistoricalliancein1999.Nissan,atthattime,seemedtohaveexhaustedallavenuestoreviveitself.Saddledbyahugedebtburden,abloatedsupplychainstructure,decliningglobalmarke
5、tshare,anddimprospectsforthefuture,NissanhadturnedtoRenaultasitspartneroflastresort.Renaulthadsizeduptherealitiesoftheemergingshakeoutintheglobalmarketplace,andappearedtobedeterminedtoreshapeitselfsothatitcouldengageintheintenserivalrythatwasemergingglobally.LouisS
6、chweitzer,thenCEOofRenault,signedanalliancedealwithNissan,invested$5.4billioninthecompany,andchoseCarlosGhosntotakechargeoftheNissanturnaround.Injustthreeyears,Ghosnhadmanagedtodramaticallyturnthecompanyaround,afeatthatsuccessiveCEOsatNissanhadbeenunabletoengineere
7、venoveracoupleofdecades.However,Nissan’sperformancepathafterthecrisisyearsseemedtohavebecomeincreasinglyrocky.Asofteningofdemandinkeymarkets,alongwitharesettlingoftheinternalcrisiswithinthecompany,appearedtohavedepleteditsstoreofresolveanditswilltocontinuestriving.
8、Renaultitselfwasindeeptroubleandstrugglingwithanagingproductline,strongunions,andlingeringquestionsaboutitscontinuedprofitability.Byearly2008,man