Charan 2500

Ram Charan

Biogaraphy: Ram Charan (born Ramcharan in 1939 in Uttar Pradesh, India) is a business advisor and speaker, famous among senior executives for his ability to solve tough business problems. Dr. Charan has worked with top executives at some of the world's most successful companies, including GE, Verizon, Novartis, Honeywell, KLM and Bank of America.

Dr. Charan's worked in the family shoe shop in the small Indian town where he was raised. He earned an engineering degree in India and soon after took a job in Australia and then in Hawaii. After that, he was encouraged in business studies and earned an MBA and doctorate degrees from Harvard Business School, where he graduated with high distinction. After receiving his doctorate degree, he served on the Harvard Business School faculty.

Dr. Charan has written several business books like Execution: The Discipline of Getting Things Done and Confronting Reality, What the CEO Wants You to Know and Boards That Deliver. He has also written articles which have appeared in the Financial Times, Harvard Business Review, Director's Monthly, and Strategy and Business.

Right now he is living in Dallas and has been elected a Distinguished Fellow of the National Academy of Human Resources.

Summary Leadership in the era of economic uncertainty

First of all, Holliday, CEO of DuPont, had a meeting and ordered his executives to keep cash and reduce expenses. He analyzed the financial situation with his advisors to know, “how bad is it now?” and “How bad could it get?”, referring to the economic crisis.

Secondly, Holliday made a plan consisting on making groups of experts to provide managers with plans of action, to fight against the crisis. After that, they explained their employees what they had to do and why the crisis was affecting the company. Employees had to do at least three things to help conserve cash and reduce costs.

Thirdly, Holiday conducted a poll to see what employees thought about the plan, their motivation and to know what they were doing to help. In addition, Holliday asked their managers to explain what they were doing to cope with the crisis. The problem was not what they were doing but how fast it was getting done.

Finally, Holliday created a team of top executives looking at longer-term actions the company needed to take. They were thinking of closing production facilities to reduce costs or to cut back as much as possible on the over 20,000 outside contractor the company had hired.

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