The Saga of Lee Iacocca - From Ford to Chrysler
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ICMR HOME | Case Studies Collection
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
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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...
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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...
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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
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