Charan1804

RAM CHARAN: BIOGRAPHY
Ram Charan is a famous consultant, speaker and author, specialized in business and leadership. He is well-known for his practical thinking, always based in the everyday-situations.
Born in India in 1939, he spent his early years in this country, where he attended university. He later went to Australia, where he worked in several electric companies. He then headed to the US where he earned his MBA and degree at the Harvard Business School, before teaching at several recognized American learning institutions. After this, Charan became a full-time consultant, always advising top-notch firms such as the Bank of America or General Electric. Because of his amount of work, he is always travelling around the globe: he hasn’t got a home or a family (he receives his clothes via courier!). He has published several books which had a great success, such as “What the CEO wants you to know”, and articles in key magazines of the economic field such as Fortune or The Harvard Business Review.
He is mentioned as one of the leaders in corporate governance and management, always given correct answers to the CEO and directors questions. Because of this, he has reached the level of “business guru”, as he keeps advising companies all around the world.

SUMMARY: HOW THE CEO OF DUPONT REACTED TO THE CURRENT ECONOMIC CRISIS?

At the beginning of the economical crisis, DuPont chief executive officer (CEO) Chad Holliday decided to set up the company’s contingency planning called the Corporate Crisis plan, which assembles all the DuPont’s senior directors in order to find an origin of the crisis, and eventually set up procedures to face it.
First of all, seventeen teams gathered, and eventually found that the crisis merely affected the financial component of the firm. Eight of the teams left the plan, and the remaining nine came out with ideas to assure the future of DuPont in the middle of the crisis.
The employees had a great role in the Corporate Crisis plan. Holliday enlisted two top executives so as to explain to the workers, in a nontechnical language, the crisis and its effects on the company. Every single worker at DuPont had a meeting with managers, in order to share opinions about how reducing costs. The polls that were later conducted showed that overall most of the employees seemed to understand the roots of the crisis.
The CEO had interviews with the top 14 leaders of the firm, who brought lots of measures and ideas, although the implementation of these were slower that desired by Holliday.
The company was also working on measures on a longer term, which always consisted of finding a policy to reduce costs imperatively. The main decision was to cut back costs by firing the external contractors, whose places were filled by the company’s own employees.
In less than 6 weeks, DuPont was ready to face the economic crisis that was spreading all around the world, and was in a position of relative tranquility for the next months.

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