Ram Charan's first contact with business was when he was involved in the family shoe shop in his home town in India. He earned an engeneering degree and then worked in Australia and Hawaii. He then obtained an MBA and doctorate degrees from the Harvard Business School, and then served in their Faculty. Dr.Charan is widely known for his unique advice, always taking into account the complexities of bussiness in the real world, he is an expert who gives great advice to boards in order for them to improve their group dynamics and many important CEO's and executives ask for his advice on key hires and talent planning for their companies. Due to his interactive and motivating way of teaching he has won several awards such as the Bell Ringer and best teacher award at Northwestern. Dr.Charan has written a great number of books and articles where his business ideas are clearly expressed, in the past five years he has sold more than 2million copies. We could mention “Execution: The Discipline of Getting Things Done” and “Confronting Reality” which are two of his most popular books. Dr.Charan is on the board of Austin Industries and Tyco Electronics and has accomplished services on the Blue Ribbon Commission on Corporate Governance as well as being titled Distinguished Fellow of the National Academy of Human Resources.

Chad Holliday is the CEO of DuPont company, his reaction to the crisis was one of the quickest, most organised and effective ones. Once it had been very clear thet the crisis was going to affect DuPont in a great way, Holliday arranged for the Corporate Plan to take place. This is a plan DuPont uses in order to try to overcome crisises by identifying the possible problems and proposing the solutions and measures which need to be taken. So the main 17 teams (which were then reduced to nine) met. After four days they had decided what needed to be done. First of all everyone had to be aware of what was happening and what had to be done, so for this communication process to take place the Chief economist and the Head of its pension explained in a coloquial language how the crisis was affecting the Company and the measures which had to be taken. Within the next 10 days to the Corporate Plan meetings every employee had had a personal meeting with a manager and they had identifyied three things they could do to reduce costs and save cash. Poles were then held to see if employees had understood it and were acting consequently, which obtained positive results. However, Holliday believed the employees still did not fully understand the urgency in which their actions had to be done, it was neccessary for them to respond immediately. So Holliday together with his CEO and CFO met with the 14 top leaders of the company which all brought plans to help in the crisis that were not due to be implemented immediately and therefore were not useful Immediate measures to save cash were put into place such as cutting back on the over 20,000 outside contractors hired and shifting former employees, whose operations were slowing or closed, to contract work. We can see that DuPont's reaction took place in under six weeks and if as Holliday predicts the inflationary trends will reassert themselves, DoPont will be ready to resolve this issue as well.In conclusion, Chad Holliday took charge and responsabiliy by taking decisive actions seeking immediate efficency.

Mark = 9

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License