Charan_4141

Biography

Ram Charan has written many books about economy. He is an expert in economy and strategy and he has worked for many exceptional companies and banks.

Summary

This article talks about the current crisis and how the DuPont, CEO Chad Holliday faced his particular crisis.

DuPont find out that an economy crisis can start when one of the mayor customers of Japan told him that he was really nervous about the “cash” in his company.

When Holliday’s came back to EEUU, he had quickly meeting with the principal executives of the company in order to ask them how they see the crisis and how bad would it get. The answers were really disconcerted. What starts as a confidence crisis it ended in a global crisis that extended to Asia, Western Europe, Russia, etc.

They were conscious of the crisis when they saw that booking at the hotel in DuPont owns in downtown Wilmington plunged more than 30 percent in 10 days as lawyers where hired by some clients who decide to stop incurring legal fees.

Also they found out that this crisis was a real event when they had a massive stock of cars.

DuPont immediately convocated a plan to get on with this crisis and to managed to get out of it. This plan did show what was going on, after four days, in the assemble.

After this every employee in Chad Holliday was called to see their boss and find how everyone can help the company and how do they could conserve the lack of cash and to reduce costs. In Holliday the things were different. They were still seeing that the employees didn’t have the feeling of urgency that the company real needed. So Holliday took some time spending hours with other companies to see how they could get out of this crisis as fast as they could.

DuPont find the way too save all the possible cash. Over 20,000 outside contractor the company were hired. They have been preparing this crisis quick well so probably it is ready.

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