Read the following business biographies:
? Lee Iacocca, who in the early 1980s rescued Chrysler Corporation - then the third largest automobile manufacturer in the world - from the brink of bankruptcy and turned it into a profitable business.
? Lou Gestesner rescued IBM from financial crisis and extinction in the mid-1990s by implementing a successful turnaround strategy while many experts suggested breaking up IBM into several smaller companies to meet the challenges of the changing technological environment.
Based on your reading identify (a) new strategies that led to the turnaround; (b) key man- agement changes; (c) SWOT of Chrysler and IBM during the problematic times; (d) impact of external risks; (e) importance of in-depth understanding of the industry. Examine how the various internal risks were effectively managed. (Other business biographies, for example Sam Walton, founder of Wal-Mart etc., are also useful to understand organizational/business dynamics.)