charan 1312

1.Biography.

Ram Charan is an important business advisor, speaker and writer.
He was born in India and he started working in the family shoe shop in the Indian town.
Later he worked in Australia and then in Hawaii.
After that he discovered his talent for business.
He studied at Harvard Business School where he earned successfully MBA and doctorate degrees.
Charan has worked with top executives at some of the most important companies of the world such us: GE or Bank of America. Also he has written lots of interesting books and articles like: “The Discipline of getting things done and Confronting Reality”, “Leadership in the Era of Economic uncertainty”, “Boards at work”…
He is the director of Austin Industries and Tyco Electronics and has served on the Blue Ribbon Comission on Corporate Governance.
Charan was named a distinguished fellow at the National Academy of Human Resources.

2.Summary.

The book “Leadership in the Era of Economic Uncertainty”, written by Ram Charan tell us how the crisis affected to Dupont CEO Chad Holliday when he was visiting a Japanese customer.
When Holliday arrived to US he called the six leaders to know how bad the situation was. Because of the very bad situation Holliday decided to take measures.
The situation was so bad that he knew he needed a quick strategy so he decided to create the “Corporate crisis” in which every employee was involved, so everyone could give their opinion about how to conserve the cash and reduce costs; it was a good way to make them participate in the problem. Nevertheless the workers were convinced that there would be a solution to the problem so they did not feel the urge to take measures.
Charan knew that actions had to be taken immediately to solve the problem; it would cause the shutting of some production facilities to reduce costs.
But the better thing to save the most cash was to reduce the outside contractor the company had.
To conclude, the best thing Chad Holliday did was to assume the problem, accept the change and take decisive action and solution, something that every leader must do now.

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