Charan 2789

Biography of Ram Charan

Maybe the precocious contact between Ram Charan and business could be a reason of his succes. Ram Charan began working in his parents' shoe shop, in his native country of India. Later, with his engineering degree, he obtained jobs in Autralia and Hawaii, but went back to study and earned an MBA in Havard Business School, where he served after his doctorate degree.
At the moment, Ram Charan is a world recognized expert consulted by many well-known companies to improve their group dynamics. His fame has been increased by the several awards he won, and the publicity made by famous magazines.
Dr Charan is work addicted, he wrote numerous books, among them two bestseller, and articles in some of the most important financial magazines like Fortune or the Financial Times.
Some of the most prestigious things he done were serve on the Blue Ribbon Commission on Corporate Governance and be elected a Distinguished Fellow of the National Academy of Human Resources. He is also a director of Austin Industries. And works from Dallas, where he is actually based.

Summary

This introductive part of Ram Charan's book "Leadership in the era of economic uncertainty" is about how Chad Holliday, CEO of DuPont Company who tried to spare his company the financial crisis damages, assuming his leader responsabilites.
Chad Holliday became awake of the scale of the crisis when the CEO of a Japanese company told him how afraid he was and explained him the preventive measures he had already taken.
Back to United States, Mr Holliday immediatly organized a meeting with his six top leaders to be aware of the real financial situation. The result was that the crisis was about to become global. First signs had already appeared in his own company : booking in DuPont hotel and care paint covers' orders were collapsing.
Mr Holliday decided to take action and launched the Corporate Crisis plan of DuPont company, which enable the assembly of all DuPont's senior managers with the goal to put appropriate disaster-control procedures in place.
The plan allowed the assembly of 7 financial teams whiches managed to determine what the company should do to protect her viability. And for that, DuPont would need the help of all the employees.
As a consequence they started a large comunication campaign to inform all the employees about the situation and how to deal with it : face-to-face meeting with managers were organized, and everybody had to think about ways to conserve cash and reduce costs. After a few days, they checked the employees' comprehension of the nature of the crisis and their reactions, and they seemed to get it.
But Holliday had the feeling that it wouldn't be quick enough, so he asked each of the company's top leader what they were doing to cope with the crisis.The result was that they had planed a lot of efficient crisis measures but maybe it will be done to late.
An other part of the reaction plan was to create a team of top executives looking for longer-term actions to save the company. But this way wasn't fast enough to reduce costs, so they decided to fire the company outside contractors and, where possible, useless internal employees.
With that initial global reaction, DuPont put in place the basis to spare the company of the crisisor at least being prepared to deal correctly with it.
But this model reaction couldn't have been done without the smart and fast action of Chad Holliday who behaved like a real leader.

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