Business Week features a book excerpt from management advisor Ram Charan describing how former DuPont CEO Charles Holliday, who turned over the CEO role to Ellen Kullman on Jan. 1, activated a crisis management plan once the impact of the financial meltdown became clear in early October.
Dow Chemical recently reported that it has been operating under "Company Code Red" during the fourth quarter. Will these crisis management efforts mitigate the impact of the global financial meltdown for industry? We should start getting some answers over the next few weeks as companies release fourth-quarter earnings and address the 2009 outlook. DuPont reports on January 27.