Lee iacocca


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Lee iacocca

  1. 1. L EE I ACOCCA & CHANGE MANAGEMENT   B Y - F AIYAZ A BBAS H USSAINI (11 BM 60104) R AHUL R AVI (11 BM 60078) M RINAL V ARHSNEY (11 BM 60016) P RATIUSH T YAGI (11 BM 60002) Y ASH M EHTA (11 BM 60116) R OHAN P ATTNAIK (11 BM 60108)
  2. 2. L EE I ACOCCA <ul><li>  </li></ul><ul><li>  </li></ul><ul><li>  </li></ul><ul><li>Lido Anthony &quot;Lee&quot; Iacocca is an American businessman most commonly known for his revival of the Chrysler Corporation  </li></ul><ul><li>in the 1980s, serving as President and CEO  </li></ul><ul><li>from 1978 and additionally as chairman  </li></ul><ul><li>from 1979, until his retirement at the </li></ul><ul><li>end of 1992. </li></ul>
  3. 3.   Problems at Chrysler Corporation <ul><li>Accumulated losses of $ 1.2 billion </li></ul><ul><li>Government bailout package required to save the company from bankruptcy </li></ul><ul><li>No coordination among the teams </li></ul><ul><li>Poor product quality </li></ul><ul><li>Losing consumer loyalty </li></ul><ul><li>Low morale among the employees and industrial </li></ul><ul><li>spying </li></ul>
  4. 4.   S TRATEGIES FOR COMMUNICATING CHANG E <ul><li>4 Key change enablers: </li></ul><ul><li>  </li></ul><ul><ul><li>Established vehicle platform teams. </li></ul></ul><ul><ul><li>Constructed a new technical center. </li></ul></ul><ul><ul><li>Adopted a new corporate culture and organization. </li></ul></ul><ul><ul><li>Installed a single company wide computer system  </li></ul></ul><ul><li>       based on CAD-CAM software. </li></ul>
  5. 5. S KILLS FOR COMMUNICATING CHANGE <ul><ul><li>Curiosity : He was a able listener and used to discuss problem through dialogue and had a habit of face to face communication with the team members and customer - Underscore and Explore . </li></ul></ul><ul><ul><li>Creative :  He used to challenge conventional approach and went resource reduction and downsizing and convinced his team about staying ahead of change curve.       </li></ul></ul><ul><li>                       </li></ul><ul><ul><li>  Charismatic : He used his marketing skills by featuring </li></ul></ul><ul><li>        in the TV commercials and hence became the face of  </li></ul><ul><li>        the company. He also started the concept of Open </li></ul><ul><li>        letter to American people in order to remove the  </li></ul><ul><li>        prevailing myths and to build public faith in the  </li></ul><ul><li>       company  - Contingency Approach                        </li></ul><ul><li>  </li></ul>
  6. 6. L EADERSHIP S TYLE      <ul><ul><li>Bold Decision maker and risk taking abilities. </li></ul></ul><ul><ul><li>Visionary who could see far beyond the day to day activities of business. </li></ul></ul><ul><ul><li>Was not afraid of taking unpopular decision to solve major problem. </li></ul></ul><ul><ul><li>Ability to adjust any kind of situation very quickly. </li></ul></ul><ul><ul><li>He provided the leadership from brink of bankruptcy  to profitability. </li></ul></ul><ul><ul><li>Revamped internal politics and system,  change managem ent structure, trimmed  ten of thousands of employees and  </li></ul></ul><ul><li>      translated  the loser stigma of a government bailout into  </li></ul><ul><li>      positive cultural shift.  </li></ul><ul><ul><li>Moved the company forward based on personal  </li></ul></ul><ul><li>      ch arisma and ego. Starred in over 80 television  </li></ul><ul><li>      commercials for the company. </li></ul>
  7. 7. C ONSOLIDATING C HANGE <ul><ul><li>Redesigned Roles - Brought about changes in the organizational structure. </li></ul></ul><ul><ul><li>Redesigned Reward System - Medical Benefits, &quot;30 and out&quot; benefits that allow workers with 30 years of service to retire with full benefits, unlimited cost of living allowance, etc. </li></ul></ul><ul><li>References :  </li></ul><ul><li>wikipedia.com, </li></ul><ul><li>Lee Iacocca -  </li></ul><ul><li>An Autobiography by William Novak </li></ul><ul><li>                         </li></ul><ul><li>                        </li></ul>