Charan8500

Ram Charan is a business advisor and famous speaker among senior executives for his ability to solve their toughest business problems. He worked behind the scenes with top executives at some of the world's most successful companies. Dr. Charan's introduction to business came while working in the family shoe shop in the small Indian town where he was raised. He earned an engineering degree in India and (after taking a job in Australia and in Hawaii) an MBA and doctorate degrees from Harvard Business School, after that, served on the school faculty. He is known for providing advice that takes into account the real-world complexities of business. He won the Bell Ringer award at GE's Crotonville Institute and best teacher award at Northwestern. Dr. Charan has served on the Blue Ribbon Commission on Corporate Governance and was elected a Distinguished Fellow of the National Academy of Human Resources. Now he is on the board of Austin Industries and Tyco Electronics, and is based in Dallas, TX.

Summary_
This sample page of the book “Leadership in the era of economic uncertainty” by Ram Charan explains how Chad Holliday, (CEO of DuPont) reacted to the current economic crisis. DuPont CEO´s knew about the crisis while in Japan, visiting one of its major customers who told him that he feared for his company’s financial position, and therefore requested from his employees not to waste money. As soon as Holliday got back to the US, he arranged a meeting with his team to know how bad things where. As DuPont’s situation was getting worse, Holliday decided to take measures. After meditating whether the “Corporate Crisis” plan should be applied or not, he decided that even though implementing this plan could arise fear among the company’s employees, the economic situation required the application of such an emergency plan. Holliday made sure that each employee at DuPont knew about the critical (financial) situation, and what every one of them had to do. He knew that he had to act immediately, but he had people working on medium run issues. His priority and most important action held was to reduce outside contractors the company had, in order to reduce costs.

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