Charan1111

RAM CHARAN:

• Biography:

Ram Charan was born in Uttar Pradesh (India) in 1939. Ram Charan studied in Banaras Hindu University and Harvard Business School, where he earned an MBA and he studied for his doctorate.

He is a business consultant, university professor and public speaker. He has worked for many top companies like GE, Bank of America and KLM and has written a lot of books including Leadership In The Era Of Economic Uncertainty. He is based in Dallas, Texas after years of traveling on business.

• Summarize:

This is about the present economic crisis and how Chad Holliday CEO of DuPont dealt with it.

He became aware of the depth of the economic crisis to industry as a whole on a trip to Japan where the CEO of a major company told him of his worries about his company’s cash flow and the steps he had taken to save for the coming crisis.

On his return to the USA he immediately called a meeting of DuPont top management to find out how bad the situation was and how bad it could get.

Unfortunately, it seem that the American financial crisis had spread to industry both home and abroad. Since of this showed up in service and manufacturing sectors

DuPont has, and has implemented, contingency plans in the case of emergency. Holliday decided that the situation was serious enough to put the Corporate Crisis plan in action.

A number of teams came together to study the crisis. On discovering that the crisis was purely financial some of the teams stood down. After four days the path was clear and now needed to be explained to the staff.

This was done on a general and individual basis and the employees were basically given a SWOT analysis of the situation and asked to identify three things they could do to help.

People seem to understand and reacted with cost cutting measures but not with the urgency and speed that Holliday wanted.

At the same time that the emergency measures were being taken DuPont was also focusing on long term planning. Although the future is grim Chad Holliday is acting as a leader and is sure to pull DuPont out of the crisis.

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