1) Short biography of Ram Charan:

Charan studied an engineering degree in India and he took jobs in Australia and Hawaii. He showed his talent and he earned a MBA and a doctorate in Harvard. Now he lives in Dallas.

Dr. Charan solves companies toughest problems. He has worked with important and world´s most successful companies such as GE, Bank of America and KLM for example. He provides realistic advices which take into account the real complexities of business. Charan shared his insights with CEOs, boards of administration, and senior HR who seek his advices.

His teaching and writing style has won him several awards. He is also a successful writer. The last five years he has sold two million copies of his books.

2) How the CEO of Dupont reacted to the current economic crisis:

Charles Holliday had the first signal of the crisis in a meeting with a Japanese customer who was worried about his company’s cash positions.

As quickly as he could he organized a meeting with the six top leaders of DuPont to ask them about the problems. Few days later he had the pessimistic answers. Later, he had very worrying economic indicators from the company.

Chad invoked an action plan called “Corporate Crisis plan”. As the nature of the crisis was only financial, the teams determinated what was necessary to ensure DuPont´s solvency.

Communication with employees was necessary to cut costs and encourage them to collaborate to handle the crisis. The result was that they helped but not enough. The downturn deteriorated the economy faster than the measures were put in place. The CEO took hard decisions to cut more costs such as release hire contracts or close production lines.

Depending on how deep the recession will be, there will be a lot to do. From the point of view of Charan that is the way that a leader must work now.

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