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Ram Charan

• Biography

Ram Charan born in 1939 in Uttar Pradesh, India. Nowadays he is an important business consultant, speaker and writer.
He started working in his family’s shoe shop, then he studied at Banaras Hindu University and later studied at Harvard Business School, where he do successfully an MBA and obtained a doctorate.
He has worked for many important companies such as KLM or Bank of America, is the director of Austin Industries and he write a lot of interesting book such as: Leadership in the era of economic uncertainty: The new rules for getting the right things done in difficult times, What the CEO wants you to know, Boards at work ….
He is an addicted to work, is not married and has no children. Until 67 years he has lived at hotels or associate residences.
He is member of the National Academy of Human Resources since 2000, where obtained a distinguish fellow in 2005.

• Leadership in the Era of Economic Uncertainty(reaction of DuPont to he current crisis)

The first reaction of DuPont was to design a plan, the Corporate Crisis plan, which immediately brought his senior managers to define the crisis and make plans to solve it. When they found that the nature of the crisis was financial, eight of the seventeen standing teams stood down and the other nine establish the main points to ensure the viability of DuPont.
After it, Holliday (DuPont’s CEO), ordered the company’s chief economist and the head of its pension fund to explain the situation of the company to the employees.
After the formulation of the plans, every employee had had a face-to-face meeting with a manager, who explained what the company needed to do, and they have been asked to identify three things they could do to help conserve cash and reduce costs. Few days later the company does a voting to see how the employees understand the nature of the crisis, their reactions and see if they are doing what they are supposed to do.
The actions (curtail travels, cancel internal meetings, eliminate consultant and contractors) to conserve cash take hold quickly.

After meetings with company’s top 14 leaders, Holliday said that they must take solutions at short term; even he has a team looking at longer-term actions. They determine that the fastest way to save cash was to cut back the companies hires.
Finally, when things turn normal, Holliday predict that the inflation will reassert them, but the company will be ready for it.

Mark = 6

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