WHO WE ARE Nissan Annual Report 2004 19 Those are the elements of our philosophy—a system of thinking that will stretch as Nissan continues to pursue sustainable and profitable growth. Our vision is to become the top automaker in the world—the leader in quality, brand strength, profitability and performance.  The Nissan Management Way has mapped out the course to this goal, yet along the way we will always retain the flexibility to redefine who we are, based on the needs and desires of the customers we serve. Lastly, Nissan’s brand identity is now clearly defined. After our people, our brand is the most valuable asset we possess, of greater worth than any of the company’s tangible assets.  Fourth, employees are evaluated fairly. We are focused on results and real performance as the true measures of success. Nissan has become a leader in Japan by moving away from the traditional seniority-based employment and compensation system toward a system that rewards achievement. We even go a step further and reward actions that exemplify Nissan’s vision. Nissan now serves as the benchmark for other companies striving to create more modern, dynamic employment systems. Third, we keep our management consistent and promote empowerment. Consistent management sets a solid foundation and inspires trust in the actions and decisions of the company. Empowerment builds on this by encouraging employee participation in the decision- making process. Employees understand the management structure and feel confident in expressing their own opinions and ideas. Second, we strive for honest, effective two-way communication. Relationships, inside or outside the company, are based on mutual respect and trust. This is fostered by open exchanges. New communications channels at Nissan now allow employees to access company information in a faster, more effective manner, and to swiftly share what they know with investors, shareholders, suppliers, the media and other interested parties. Motivated, passionate people are Nissan’s greatest asset. The high performance of the company reflects the attitudes of our people, and we work hard to maintain their passion and motivation in several ways. First, we clearly define our corporate vision. People must understand and internalize this vision, because even in the most difficult of times a compelling vision inspires everyone to move in the same direction.