Who Says Elephants Can't Dance? Inside IBM's Historic Turnaround Gerstner Jr., Louis V.

Book is in very good condition! There is only light wear from use. The pages are clean with no marks.

In 1990, IBM achieved its highest profitability to date. However, the rapid changes in the computer industry by 1993 led the company to the brink of a $16 billion loss. IBM found itself on the verge of extinction due to its unwieldy size, insular corporate culture, and the impact of the PC era, which it had played a significant role in inventing. To address these challenges, Lou Gerstner was hired to lead IBM. Many believed that Gerstner had joined the company to oversee its dissolution into independent business units. This strategy, already underway when he arrived, would have effectively dismantled the corporation responsible for pioneering many important technologies in the industry. Contrary to expectations, Gerstner took immediate action to bring the company together and redefine its mission as a customer-centric provider of computing solutions. In a bold move, he chose to keep the company intact, lower prices on its core products to maintain competitiveness, and boldly declared, "The last thing IBM needs right now is a vision." In "Who Says Elephants Can't Dance?", Gerstner recounts the story of IBM's transformation in terms of competitiveness and corporate culture. Through his own perspective, he chronicles his arrival at the company and the steps he took to rebuild its leadership team and instill a revived sense of purpose in the workforce. In the process, Gerstner formulated a strategy for the computing giant and revitalized the company's stagnant culture, which had stemmed from its previous successes. This firsthand account portrays an exceptional turnaround and serves as a compelling case study in crisis management. It also provides insightful reflections on the computer industry and principles of leadership. "Who Says Elephants Can't Dance?" encapsulates Lou Gerstner's historic business achievement. Delving into the world of IBM's CEO, Gerstner shares the details of high-level meetings and explains the high-pressure decisions that had to be made with no room for turning back. Additionally, he offers hard-earned conclusions about the core elements that drive the success of a great company. Throughout the history of modern business, many companies have transitioned from being industry leaders to facing the brink of extinction. Some of these companies have successfully revived themselves under new management, albeit in the shadows of their former glory. However, only one company has managed to reclaim its position as an industry leader after experiencing such a downfall. That company is IBM. Lou Gerstner, Jr. served as the Chairman and CEO of IBM from April 1993 to March 2002, retiring as CEO. He remained Chairman of the Board until the end of 2002. Prior to joining IBM, Gerstner was the Chairman and CEO of RJR Nabisco, Inc. for four years. He also had an eleven-year career at the American Express Company, during which he served as the President of the parent company and Chairman and CEO of its largest subsidiary. Gerstner was previously a Director at McKinsey & Co., Inc., a management consulting firm. He holds a Bachelor's degree in Engineering from Dartmouth College and an MBA from Harvard Business School.