Who Says Elephants Can 't Dance?

828 WordsJul 7, 20164 Pages
Introduction The book “Who Says Elephants Can’t Dance?” (Gerstner, L.V., 2002) is an account of IBM 's historic turnaround told by Louis V. Gerstner, Jr., the chairman and CEO of IBM from April 1993 until March 2002. This book touches on Gerstner’s life before joining IBM, highlighting his years in McKinsey & Company, American Express and RJR Nabisco, but is primarily centered on his IBM experience particularly relating to the turnaround strategies he implemented which took IBM from less than $18 per share in 1993 to $78 per share in 2003 (Reuters, 2014). Gerstner’s tenure in IBM is boasted to be one of most successful corporate turnarounds we have seen in the last few decades. This book is divided into five parts “Grabbing hold “,” strategy”, “Culture”, “Lessons learned “, “observations “. Grabbing hold In Grabbing hold part, the author discussed about how he wrestled with the idea of taking the IBM job followed by his first year in the job. This provides an insider view of the CEO recruiting process for a fortune 50 companies. It also reveals that how precarious IBM’s financial position during that time and describes how Gerstner had overcome the financial crisis in the early 90’s. When Gerstner took up the job the company shareholders and the technology analysts were very angry with management decision of hiring a “non-technological guy”. Though many believed that harvesting or divesting some of IBM’s business would be more beneficial to the company rather than facing
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