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Ram Charan's Biography:

Ram Charan is a highly acclaimed business advisor, speaker and author who has coached some of the worlds' most successful CEOs. For 35 years, he has worked behind the scenes at companies like GE, KLM, Bank of America, DuPont…
Ram Charan started his business career as a teenager working in the family shoe shop in India. He went on to earn an engineering degree as well as a MBA and doctorate degrees from Harvard Business School, where he graduated with high distinction and was a Baker Scholar. He then served on the Harvard Business School faculty.
Nowadays, his prestige as business advisor and teacher is so important that many people have come to know him through in-house executive education programs which have make him win several awards such as the Bell Ringer award at GE's famous Crotonville Institute and best teacher award at Northwestern.
Dr. Charan has captured his business insights in numerous books and articles which include the bestseller "Execution: The Discipline of Getting Things Done" and "Confronting Reality", both co-authored with Larry Bossidy, "What the CEO Wants You to know", "Boards at Work"… books which have sold more than 2 million copies.

Summary

In the book “ Leadership in the Era of Economic Uncertainty” Ram Charan shows how Chad Holliday (CEO of DuPont) is facing the current economic crisis.
Chad Holliday gets aware of the crisis while he was in Japan visiting one of its major customer. When he returned to the U.S he immediately organized a meeting with his top company leaders. Chad knew they needed a quick strategy, and that the best way to solve the problem was to involve everybody in the company through a “Corporation Crisis”, which included the research of the opinion of almost every employee about how to conserve cash and reduce cost making them participants in the problem.
Nevertheless, Holliday had a feeling that people still didn’t grasp the urgency with which they needed to be acting, solutions were long-term and Holliday wanted short-term solutions. Despite, the actions finally taken were target to maintaining cash by closing some production facilities and cut back numerous outside contractors.
To sum up, neither fear nor uncertainty paralyzed him. He took charge, pulled people together, and took decisive action. This is what every leader must do now to face the crisis.

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