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BIOGRAPHY

Ram Charan is an important business consultant, speaker and writer. He was born in Uttar Pradesh, India, in 1933. He studied engineering in India and, then, he went to Harvard Business School where he studied the Master in Business Administration (MBA) and doctorate degrees, getting high distinction and becoming a Baker Scholar.
Ram Charan is famous for his advises about Business. He has coached some of the world’s most successful CEOs. He has worked for important companies such as DuPont, Ford and Verizon. Ram is well-known for his practical, real world perspective.
Ram Charan has won some awards and he is considered one of the most important resources for in-house executive development programs. “What the CEO wants you to know”, “The leadership pipeline” and “Boards at work” are examples among his famous books.
Nowadays, he serves on the Blue Ribbon Commission on Corporate Governance and he lives in Dallas, Texas (USA).

CEO’S REACTION

The first thing the CEO needs to know to implement the reaction is if the situation deserves the plan or if it is early to implement it. The plan consists in seventeen teams prepares to this kind of situation. They would determine the essence of the crisis and what should be done to ensure the viability of the business.
The CEO, Holliday, explained the company’s chief economist and the head of the pension found where did the crisis come from and how they would try to avoid it.
First of all, they had several face-to-face meetings with the employees to tell them what they should do and they asked every employee about three things they would do to conserve cash and reduce costs.
While this measure was implemented, the programme was controlled to see employees’ reactions, to see if they were scared or even energizer. Most of them seem to be progressing, but they didn’t seem to realise the urgency of the action. This was the main problem, not how they were coping with the crisis.
The best solution for the moment was to cut back the outside contractor the company had hired, because they were too expensive and they were slowing the company work.
DuPont’s initial reaction took place in less than six weeks but there is much more to do depending on the fluctuations of the global economy during the next two years.

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