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When Lee Iacocca was asked to join the Chrysler in 1978, the company was in ruins with over $204 in losses and $500 reduction in sales. ... Chrysler did not operate as a unit; each group within the company choose to be self-contained. ... Chrysler’s products became increasingly unreliable and the company was losing money and market share at an accelerated rate. Customer confidence in the Chrysler’s product was low, because cars were breaking down within two years. The financial state of Chrysler was also suffering, with heavy losses and poor investments. ... Chrysler was in deep trouble and chairman John Riccardo sacrificed his own career to give Iacocca full control of his company. ...
Lee Iacocca’s action oriented leadership style was the driving force behind his success. Iacocca had an in depth knowledge of the automotive industry as well as the vision to build success from the ground up.
Approximate Word count = 725
Approximate Pages = 2.9
(250 words per page double spaced)
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