The Saga of Lee Iacocca - From Ford to Chrysler

            
 
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Case Details:

Case Code : LDEN009
Case Length : 10 Pages
Period : 1924-2001
Pub Date : 2003
Teaching Note :Not Available
Organization : Ford, Chrysler
Industry : Automobile
Countries : USA

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.



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Excerpts

The Tenure at Chrysler

When Iacocca joined Chrysler, the company was facing problems on several fronts. Coordination across different functions was virtually absent.

Iacocca identified that information dissemination, the spirit of camaraderie8 and esprit de corps9 were completely absent among the employees in the company. The company's products were perceived to be of poor quality.

Financial controls were virtually non-existent. The company's finished goods inventory had risen to unprecedented levels, which resulted in production cuts from time to time. Iacocca later recalled, "What I found at Chrysler were 35 vice-presidents, each with his own turf...

Leadership and Entrepreneurship Case Studies | Case Study in Management, Operations, Strategies, Leadership and Entrepreneurship, Case Studies

Turning Around Chrysler

In 1984, Chrysler declared record profits of $2.4 billion. This achievement catapulted Iacocca's fame and he soon became very popular all over the US. He ranked among one of the highly-paid business executives in the US. Two of the books written on Iacocca, namely, his autobiography, 'Lee Iacocca' published in 1984, and 'Talking Straight' published in 1988 became international best sellers...

Iacocca – The Leader

According to analysts, Iacocca was popular for his bold decisions and risk-taking abilities. He felt that every business and every product had its own inherent risks that had to be overcome to achieve success. Iacocca was proclaimed as a visionary who could see far beyond the day-to-day activities of business. He used to think differently from others and always came up with innovative ideas. He was not afraid of taking unpopular decisions to solve major problems. Analysts felt that Iacocca's success could be attributed to his ability to adjust to any kind of situation very quickly...

The Other Side of Iacocca

Although most people recognized Iacocca's achievements in the corporate world and his leadership qualities, a section of analysts and media reports highlighted the negative side of Iacocca's leadership. Iacocca's management style was reported to be dictatorial due to which he was disliked by his subordinates...

Exhibits

Exhibit I: A Profile of Lee Iacocca
Exhibit II: Cars Introduced During Iacocca's Reign at Ford and Chrysler (Partial List)
Exhibit III: The Lee Iacocca Institute


8]  Goodwill and light-hearted rapport among friends or colleagues.

9]  A common spirit of partnership, intimacy, enthusiasm and devotion to a particular cause among the group members.

 

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