Globalization, deregulation, and a growing knowledge workforce have radically altered the role of the modern manager. The ability to lead organizational change is no longer a nice‐to‐have skill but a necessity. And as companies abandon traditional, hierarchies in favor of the flatter, more...

In May 2000, Robert A. (“Bob”) Eckert, a former vice‐president at Kraft Foods, Inc., walked into the world’s largest toy company to face a monumental challenge. Mattel Inc. was losing over 1 million dollars a day, and it was obvious that significant measures were needed to rescue it. A...

The recent spate of acquisitions, redundancies and CEO casualties ensure that change is an inevitability for many organizations. However, nearly two‐thirds of major change programs prove unsuccessful, and, according to Fortune 500 executives, the primary reason for this is not a lack of skill...

With the beleaguered ABB struggling to stay out of the red as Siemens announces quarterly profits substantially up on the past months, the jury is still out on conglomerates. Are they a thing of the past or will they survive this economic slump to rise triumphant later this decade? There is...

As the world watched the tragic events of September 11 unfold, people’s immediate thought was of the lives this disaster would claim. But Jeffrey W. Greenberg, CEO of Marsh & McLennan Companies, had more to deal with than most and neither hysteria nor silent shock was an option. Not only did...

There comes a point at which, for any business organization, confidence and ambition give way to hubris. Astute observers might note this defining moment, although more often it becomes apparent only later.

The Ford Motor Company is feeling the pressure. Over the last couple of years the world’s second largest car maker has suffered a series of blows ranging from strategy crises to PR disasters which culminated in a massive $5.5 billion loss in 2001. In an effort to get things back on track,...

In 1994 consumer company Scott Paper was tired, bloated and more importantly, it was losing money hand over fist. Enter “Chainsaw Al” (a.k.a. Al Dunlap). This cost cutting, job slashing turnaround specialist earned his nickname as a result of his ability to cut out the dead wood and revive...