Biography: Ram Charan

Ram Charan was born in Uttar Pradesh, India in 1939. Ram Charan grew up in India, where he worked in his family’s shoe shop as a child, and later received a degree in engineering from Banaras Hindu University. He continued his business career at Harvard Business School, where he received his MBA as well as his doctorate. He graduated with distinct prestige and became a Baker Scholar. He also formed part of the Harvard business faculty as a professor. Ram Charan is well known for his knowledge in many business areas such as, leadership, building top management teams, culture of innovation and many others. As one of his many achievements, Charan has consulted large, important companies like, GE, KLM, Bank of America amongst others. As a teacher, Ram Charan received, the Bell Ringer award, as best teacher in Crotonville Institute, and was awarded Best Teacher Award at Wharton and Northwestern Universities. Ram Charan shares his knowledge with the rest through many of his books, many of which are well known. One of his best known books, Execution, reached number one on the Wall Street Journal list and has been on the New York Time’s best seller. In the last decade, Charan was elected to form part of the National Academy of Human Resources in 2000, and became director of Austin Industries.

Summary: Leadership In The Era of Economic Uncertainty

In this excerpt from “Leadership In The Era of Economic Uncertainty” written by Ram Charan, Chad Holliday takes several measures to analyze the financial situation of the crisis, in order to determine the extent and the roots of the crisis.
Holliday starts realizing how a problem that started out as a problem of confidence in Wall Street is becoming to be global. He, himself sees right away, how the panic is affecting many of the businesses he owned, such as the Hotel business. As chaos grew, contingency planning was needed to take appropriate actions to estimate the crisis.
After finding out the problem was only financial, he took a chief and a head of two departments to analyze for him clearly, how it all started and how the problem was affecting the company. He continued on, by telling each employee to come up with three things that would conserve cash and reduce costs.
He continues meeting with chiefs from several departments to discuss how they were going to fight the crisis. The problem was not how they will do it but how fast they would do it.
Holliday thought the more efficient way to save cash was to cut down on the 20 000 contractors that the company had already hired.
Looking into the future, Holliday will continue taking decisive actions to fight the crisis.

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