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Who Says Elephants Can't Dance? Inside IBM's Historic Turnaround [Abridged, Audiobook] [Audio CD]

Louis V. Gerstner Jr. (Author), Edward Herrmann (Reader)
3.6 out of 5 stars  See all reviews (130 customer reviews)


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Book Description

November 12, 2002

In 1990, IBM had its most profitable year ever. By 1993, the company was on a watch list for extinction -- victimized by its own lumbering size, an insular corporate culture, and the PC era IBM had itself helped invent.

Enter Lou Gerstner. The presumption was that Gerstner had joined IBM to preside over its continued dissolution into a confederation of autonomous business units -- effectively eliminating the corporation that had invented many of the industry's most important technologies. Instead, Gerstner took hold of the company, making the bold decision to keep it together, defiantly announcing, "The last thing IBM needs right now is a vision."

Told in Lou Gerstner's own words, this is a story of an extraordinary turn-around, a case study in managing a crisis, and a thoughtful reflection on the computer industry and the principles of leadership. Summing up his historic business achievement, Gerstner recounts high-level meetings, explains the no-turning-back decisions that had to be made, and offers his hard-won conclusions about the essence of what makes a great company run.

Read by Edward Herrman
With an introduction Read by the Author


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Editorial Reviews

From Publishers Weekly

Gerstner quarterbacked one of history's most dramatic corporate turnarounds. For those who follow business stories like football games, his tale of the rise, fall and rise of IBM might be the ultimate slow-motion replay. He became IBM's CEO in 1993, when the gargantuan company was near collapse. The book's opening section snappily reports Gerstner's decisions in his first 18 months on the job-the critical "sprint" that moved IBM away from the brink of destruction. The following sections describe the marathon fight to make IBM once again "a company that mattered." Gerstner writes most vividly about the company's culture. On his arrival, "there was a kind of hothouse quality to the place. It was like an isolated tropical ecosystem that had been cut off from the world for too long. As a result, it had spawned some fairly exotic life-forms that were to be found nowhere else." One of Gerstner's first tasks was to redirect the company's attention to the outside world, where a marketplace was quickly changing and customers felt largely ignored. He succeeded mightily. Upon his retirement this year, IBM was undeniably "a company that mattered." Gerstner's writing occasionally is myopic. For example, he makes much of his own openness to input from all levels of the company, only to mock an earnest (and overlong) employee e-mail (reprinted in its entirety) that was critical of his performance. Also, he includes a bafflingly long and dull appendix of his collected communications to IBM employees. Still, the book is a well-rendered self-portrait of a CEO who made spectacular change on the strength of personal leadership.
Copyright 2002 Reed Business Information, Inc. --This text refers to the Hardcover edition.

Review

“[Gerstner] entertains as he educates.” (New York Times Book Review )

“Effective, to the point...Louis V. Gerstner Jr deserves his place in the management hall of fame.” (Financial Times )

“A well-rendered self-portrait of a CEO who made spectacular change on the strength of personal leadership.” (Publishers Weekly )

“The best business book I’ve ever read.” (Imus in the Morning )

“[Lou Gerstner] has the substance of a genuine and ... interesting story.” (Wall Street Journal ) --This text refers to the Paperback edition.

Product Details

  • Audio CD
  • Publisher: HarperAudio; Abridged edition (November 12, 2002)
  • Language: English
  • ISBN-10: 0060527161
  • ISBN-13: 978-0060527167
  • Product Dimensions: 6 x 5 x 0.8 inches
  • Shipping Weight: 6.4 ounces
  • Average Customer Review: 3.6 out of 5 stars  See all reviews (130 customer reviews)
  • Amazon Best Sellers Rank: #1,252,154 in Books (See Top 100 in Books)

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Customer Reviews

130 Reviews
5 star:
 (43)
4 star:
 (37)
3 star:
 (21)
2 star:
 (7)
1 star:
 (22)
 
 
 
 
 
Average Customer Review
3.6 out of 5 stars (130 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

57 of 73 people found the following review helpful:
5.0 out of 5 stars Saving IBM from Itself, November 18, 2002
By A Customer
While at IBM Louis V. Gerstner, Jr. developed a reputation of aloof arrogance. One would not suspect this from reading his book, in which he gives generous credit to the tens of thousands of people who created the company and to many others, some by name, who helped to save and resurrect it.

As a former IBM executive who took early retirement twenty years ago, just as the company's bureaucracy was beginning to strangle the organization, I was fascinated to learn how that bureaucracy spread and the extremes to which it went, creating a culture thst led to decisions (if any) by committee, conspiratorial compromise, and self-protective behavior. This is not the IBM I had known. Even more interesting is the rapidity with which Louis Gerstner diagnosed the sickness of the company and the speed and persistence with which he administered tough medicine.

Despite IBM's near-terminal condition Gerstner saw it correctly not only as a business enterprise but as a "national treasure" that was well worth the collossal efforts needed to restore it.

Unlike Jack Welch's adolescent "Jack: Straight from the Gut", this book focuses on the processes of leadership and management, strategic choice, and the decision process. But it speaks also to the essential importance of corporate culture, at IBM a way of life that is based on values rather than just on being first.

As a recovering IBMer I salute Mr. Gerstner for his remarkable achievements and as a reader applaud him for this exceptional contribution to the business book genre.

Don't miss it.

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65 of 85 people found the following review helpful:
2.0 out of 5 stars Who says elephants can't write?, December 2, 2002
By A Customer
It is strangely ironic that, after doing his best to suppress all negative communication within IBM, it should be the reader feedback on amazon.com that alerts Gerstner to what the world at large really thinks of him. Ever since 1994 the newsreading public has been conned into a set of beliefs about IBM and Gerstner, simply through IBM's vice-like control of all media that wanted a share of IBM's ad spending. It is bizarre that he expects us to read through a critical employee e-mail on pages 81-82 of his book, when he admits that he couldn't even spare the time to reply to it himself.

Gerstner was the IBM CEO with a worse revenue record than John Akers, the man he replaced. The only way Gerstner could find to grow revenue was by buying firms like Lotus. He turned what was a fantastic company to work for into a an ordinary one. He writes in the book that he transformed the company into a firm where the most able got the most rewards. In fact he converted it into a firm where the most aggressive individuals, like Gerstner, win through. He destroyed IBM's employee benefits schemes across the world, claiming they were unaffordable at the time of IBM's darkest hour. Perhaps they were at that time, but Gerstner's greatest sin was that he never returned any of the benefits to the employees when business improved, except through a silly bonus scheme that in my experience never motivated anyone. The result is that IBM has become a company that people still want to have on their CV, but those who join in mid-career almost never stay more than two years.

Gerstner groped around and never really found the right idea for growing revenue. His shift to services meant that he took his eye off all the products in the IBM catalogue, and IBM architectures have become an irrelevance in a world now dominated by Windows, TCP/IP, Linux, Solaris and Oracle. He used the AS/400 as a cash cow when a very aggressive pricing scheme could have seen the system create the market that Windows NT instead built. Gerstner has said the Internet saved IBM, but frankly it did a lot more for rivals like Microsoft and Sun.

There's a part of me that makes me think this book is one huge, ironic joke -- the guy only pretends to be unaware of the impact of his decisions on others. He boasts about a turnaround that never was and advocates management behaviour that no-one should accept.

That would be fine if it were confined to the pages of this book. But unfortunately the impact of Gerstner is written large across the lives of many, many individuals who crossed his path, both inside and outside IBM. The blight cast over their lives means that, when they get the chance, they usually don't recommend IBM products. Gerstner just doesn't understand that.

These pages on amazon ought to be required reading for anyone foolish enough to think they want a career in IBM.

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43 of 56 people found the following review helpful:
2.0 out of 5 stars Over simplified and superficial, December 1, 2002
By 
E. Griffin (Wilton, CT, USA) - See all my reviews
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If you are looking for a condensed version of IBM highlights under Gerstner's lead, this book will meet your needs. If you are interested in gaining an understanding of IBM's issues that led to the "elephant" stumbling, and Gerstner's solutions, you will be disappointed.

"Who says..." is a quick read with a superficial treatment of the various issues facing IBM and a simplified view into Gerstner's techniques to turn the company around. Many different scenarios are rushed through, leaving the reader wanting to know more about how and why. The solutions offered by Gerstner and his team seem pat--surely there was more going on.

Gerstner can not answer all his critics or the legion of angry ex-IBM'ers in a single book, particularly so close to his career transition. Unfortunately, this book misses the opportunity to provide the reader with anything more than a superficial insight into one man's view of IBM.

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On December 14, 1992, I had just returned from one of those always well-intentioned but rarely stimulating charity dinners that are part of a New York City CEO's life, including mine as CEO of RJR Nabisco. Read the first page
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