This is a business book but reads like a novel with plot, character development and great suspense . It is extremely well written and makes for a very enjoyable read. I certainly look fwd to the next book. The author puts to use the access he has to the key people of the story.
As the book ends, the Ford turnround per se is achieved but it begs for an epilogue in the near future or maybe a follow up about the search for Mr. Right, a replacement for Mullaly, and how a new leader will have Ford pursue and adjust Mullaly's Legacy.
A few interesting points for me.
- The adequacy of the duo Mullaly / Bill Ford: Mr. Hoffman mostly focuses on Mullaly, the main character. But he also emphasizes Bill Ford's self awareness. By acting the way he did, B. Ford enabled the Mullaly's success and deserves much credit for that. This is a useful teaching for any business successes to look for the enablers.
- Related to the former point: the end of the book where the author reflects on the various elements of the turnaround context is also useful. It is tempting to regard Mullaly as the white knight who shows up and figures it out. And Mullaly does that anyways. But it is happening in a context that matters a great deal to give full force to Mullaly's leadership qualities.
- The book is about the Ford turnaround but I would have liked more writing about Mullaly's life within Ford: how did he relate to his family during his tenure so far. Was he struck by any personal tragedy after he became a CEO? Anything that brought any self doubt? What are his favored books / authors? What does he do when he does not work? Does he speak any language other then English, etc. it is not about digging dirt, of course, but merely humanize him and allow the reader perhaps to better relate to him in a way. Or is he just THAT perfect?
- Each chapter is preceded by a quote from Henry Ford, putting the content under his intellectual patronage. Each chapter connects well with the chosen quote, somehow Bringing H Ford's wisdom across decades into the present. Nothing wrong on face value. But given the rather complex and larger-than-life Henry Ford (including unsavory sides), it would have deserved a few lines in the intro to better define the boundaries of this intellectual patronage (or did I just miss it?).
- The book is a perfect illustration of the Chinese idea of crisis: at once a danger and an opportunity. Or as Rahm Emanuel puts it: "Never waste a crisis".
- Little is said about the consequence of the downsizing of Ford on former employees and communities where they lived. A change in the company and the industry did not go without affecting many lives… It is not the subject of the book but could have put in perspective the positive tone of the turnaround and highlighted some costs.
- Ford and then Mullaly efforts are narrated over a period of time when Wall Street went crazy. I read "The Big Short" by Michael Lewis and the 2 books offer an interesting contrast. Mullaly (re)built a company that actually makes something whereas the WS financiers did not "make" anything and ran the economy to the ground. He is quoted at some point of the book saying something like "all value comes from engineers". This is an interesting proposition to reflect on.
- There might be a similar story to write about a high tech / software giant at some point soon. Microsoft post-Gates is looking for someone to replace Balmer. Maybe Apple in a post-Cook leadership. Perhaps later Google and Facebook… The high tech industry is currently going through a major change and those who will know how to lead a large company reinvention should be an interesting subjects for the talented Mr. Hoffman.
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Missing pages
It goes from page 54 to page 23. Annoying misprint, and I was getting into the book.
Top reviews from other countries
Leandro Santana de Oliveira
Ótimo livro - virou um case de Harvard.
Reviewed in Brazil on August 7, 2023
Leandro Santana de Oliveira
Reviewed in Brazil on August 7, 2023
Ocorre que a partir da década de 1980 as grandes montadoras americanas (GM, Ford, Chrysler) começaram a enfrentar dificuldades com a alta do petróleo e a invasão de carros japoneses mais eficientes.
A Chrysler foi a primeira a jogar a toalha e tudo indicava que a próxima seria a Ford. Porém, em uma ato inimaginável, em 2006, Bill Ford renunciou ao cargo de CEO e bancou a contratação de Alan Mulally, então executivo da Boeing. Mulally conduziu um dos turnarounds mais emblemáticos da história, pois salvou a Ford da bancarrota e construiu uma cultura mais saudável e competitiva.
A título de exemplo, a GM foi tecnicamente à falência em 2008 e teve que ser resgatada pelo governo americano.
O livro conta detalhadamente como Alan Mulally enfrentou uma cultura disfuncional, marcada por disputas internas e complacência. Em tempos onde só se fala de transformação cultural, vale a pena conhecer a transformação desse ícone americano.
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JD
Spannende Einblicke in die Automobilindustrie
Reviewed in Germany on January 21, 2020
