Defying Doom at IBM
Inside IBM’s historic turnaround
Few business examples clearly show the successful turnaround of a large company. Much more abundant are the examples of large organizations that faced critical changes in their industry but were not able to produce a turnaround.
Lou Gerstner became a positive example for staging corporate turnarounds when, in just a few years, he was able to transform IBM. This global giant ended 1992 with a loss of over $5.0 billion, was heading for an even larger loss in the future and was facing the risk of becoming extinct. Gerstner’s book, Who Says Elephants Can’t Dance? tells the story behind the transformation of IBM and what it took to save the company and re-launch it to become a new ...