Summary of the biography of Ram Charan.
Ram Charan was born in India.
He earned an engineering degree in his country while he worked in the family shoe shop. When he dicovered his talent as a businessman he decides to earn an MBA and then the doctorate degree in Harvard University School. Besides, when he was a doctor already, he started teaching in Harvard Business faculty.
Nowadays Ram Charan is a successful business advisor, speaker and author. He has worked for very important companies providing them his advice to achieve a profitable growth. He won several awards, he wrote articles in some notorious business newspapers and magazines, and books concerning finance mainly, some of them are bestsellers.
Summary about How the CEO of DuPont reacted to the current economic crisis.
Thesis: DuPont’s CEO recognized the reality of the economic crisis and took action.
The CEO of DuPont, Charles O. Holliday Jr, felt the first alarm of the future economic crisis when he visited a customer in Japan. He told him that he was worried about his company cash position. Mr. Holliday’s reaction was incredibly fast: when he landed in EEUU, he called his partners for a meeting to know what is the company’s cash position and what to do to maintain the cash-flow. They didn’t know if it was a problem of confidence in the stock exchange or a worlwide crisis.
Charles Holliday prefered to be prepared for the worst, so he took action with a contingency planning. The headquarters of the company and himself figured the measures to ensure DuPont’s viability. Although Mr. Holliday wanted to be informed of the roots of the crisis and explain, to the employees, the economic situation and how does it affect the company.
Nevertheless, the employees were so confident that they didn’t respond as fast as the slowdown demand, so it seems that the best decision to be taken was to cut down some of their outside contractors.
Finally, Holliday’s reaction proves that he can face any emergency. The key is to recognize the reality.
Mark = 6