Sometimes doing nothing is the best strategy. Simply, not doing.
When he became CEO in 1993, former McKinsey consultant and turnaround master, Lou Gerstner, decided not to split IBM – even though this was something which previous CEO, John Akers had prepared for. All or nothing was Gerstner’s refrain. Gerstner reflected that IBM had been through “an economic shock the equivalent of an earthquake”; another earthquake was the last thing it needed. Indeed, a vision was the last thing it needed. Nothing high falutin; just get on and manage was Gerstner’s message.
And, under Gerstner, IBM made a surprisingly . . .
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