Apr 12 2024 26 mins 8
You’ve heard of IBM, but did you know that it was once on the verge of bankruptcy? One man, a cookie salesman, was able to turn the company around and keep it from collapsing. In today’s leadership spark, we’ll explore the remarkable turnaround of IBM in the 1990s under the leadership of Lou Gerstner, Former CEO of IBM. Lou, an outsider with a background in consumer goods and financial services, took the helm and transformed the company. He restructured IBM, shifting its focus from hardware to services and software, and revitalized its corporate culture, steering it from near bankruptcy to becoming a global leader in technology services. This story is a powerful example of how visionary leadership and strategic decision-making can navigate a company through trying times and lead it to success.
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