5 min read ⌚
The Seven Laws of Business That Made Chrysler the World’s Hottest Car Company
The new modern saga about the former Chrysler president Robert A. Lutz offers a sufficient amount of business tips that can aid you in times of crisis.
Not many of us would disagree that the society nowadays, is finding difficult to control the final outcome. Companies aren’t built on solid foundations, which compels the leaders to look for new way to handle the increasing amount of activities.
Our book summary proudly presents some comprehensive strategies for dealing with these issues, with the guidance of Robert A. Lutz – Guts.
Who Should Read “Guts”? And Why?
In the meantime, we warmly prescribe this classic to any business person, already familiar with the burden emerging from tough decisions, and the reward as a result of bravery.
“Guts” is highly recommendable to those people who are eager to understand some business secrets, that can prevent their companies from collapsing.
About Robert A. Lutz
Robert A. Lutz is as recognized personality and a former president of the Chrysler Corporation. His credibility is based on holding executive positions as a senior manager in four top-notch companies in the car-industry – worldwide: BMW, Ford, General Motors, and Chrysler.
Ignoring everything in the hope that the legacy will rise again, and remain intact is one heck of a story. Robert A. Lutz, the former Chrysler president and vice-chairman in this occasion especially proves that corporate leaders, managers, or executives are capable of writing an exceptional masterpiece, even though that’s not an integral part of their expertise.
The worst-case can be associated with the way a reader would feel while reading. Shortage of facts and info can contribute to that disaster, which is certainly not the case here.
Go on your own:
Lutz sees the market as an arena, a stage for presenting your skills for surviving in times of crisis. In addition, we would like to add his sharp point of view, frequently displayed with a dose of “bitter reality”. If you are able to cope with his mentality, you’ll agree that he is destined to become a comedian.
Among friends described as thoughtful and carrying person, that turned Chrysler around. In the 90s, he was busy planning several business endeavors which saved numerous companies from bankruptcy. His ideas are a mere reflection of success, and how to get it within reach.
Lutz is a straightforward individual, without tricks up his sleeves. Making decisions is the hardest part of any job, a privilege to leaders who are not taking refuge behind other people. We believe that Robert is the perfect example of a corporate honcho, a one you should follow almost blindly.
Generally speaking, this book covers many cases and stories shared from his Chrysler days, making it even impossible to not be thrilled and excited about what is to come, later on, while reading.
This is the best part:
The face of tomorrow is the concept of uncertainty. Although it’s unlikely that someone will accurately foresee everything lurking behind the corner, the ability to at least know what to expect can make a huge difference. Even if you are not fully recovered from your last defeat, “Guts” is a good way to start. Many people come to a point, where it’s an imperative to throw all the knowledge you’ve acquired throughout all these years, in pursuance of higher perception.
From time to time, economics doesn’t have any credibility to talk about the actual reality. For instance, if your studying days involved only conventional methods and tactics in scaring off other companies – this leads to totally discrediting the impact of globalization. Our point is to stay flexible and understand that what you have been taught may be out-of-date. Sincerity can help you grow, serving as the greatest tool at your disposal – at this moment.
For quite some time, people were forced to listen that everything in the business world unfolds around customer’s demands. This theory is not just misleading, but entirely false. In fact, finding individuals who precisely know what they need, want or desire, is a sporadic occurrence. Despite the customer-centric organization and the openness to hear the voice of customers or understand their preferences, sometimes following an ideology blindly can cause many issues.
Stay with us to learn why:
You probably hear this often, but you need to care about your firm’s interest. First and foremost, making money is a priority for you. However, the end-goal should be something way more significant than profits.
Key Lessons from “Guts”
1. The Holy Relic in the business community
2. Quality comes at a price
3. The broader perspective
The Holy Relic in the business community
Quality is, for now, the new “Holy Grail” of doing business, and an illustration of prosperity – according to many. A seemingly competent, and a well-educated individual will keep a tight grip on this concept. Yet, not so many chasers, are really into this strategy, despite their claims.
Quality comes at a price
Let’s cut to the chase: Customers prefer quality over quantity, but also quality costs more, a bargain that they never made. Are you willing to take full responsibility for your methods by being accountable for your actions? If so, finding the perfect balance is the key to build a loyal base of customers.
The broader perspective
Companies which do make a lot of money, integrate customer preferences, company’s vision, and market possibilities to achieve the desired outcome. If you embrace a visionary approach, perhaps you’ll also find yourself running a top-notch corporation, with aspirations to conquer the world, hypothetically speaking. Let’s remember one ancient way of gaining favor: Sacrifice, only this time, we are just referring to time and energy, not flesh and bones.
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“Guts” QuotesThe electrification of the automobile is inevitable Click To Tweet With autonomous cars, you're gonna see more consolidation. Once we have transport modules, you order off the phone and brands won't matter anymore. When brands don't matter, the auto industry ends. It's got another 20 years Click To Tweet Why did I lose? No reason, though you might like to know that I got tired, my ears started popping, the rubber came off my shoes, I got a cramp, and I lost one of my contact lenses. Other than that I was in great shape. Click To Tweet In the past, (GM) produced a lot of very excellent vehicles but somehow they didn't excite anybody Click To Tweet
Our Critical Review
The book is praised for its lack of errors in terms of having a smooth flow while emphasizing the key concepts in the car industry. According to us, “Guts” perhaps it’s too oriented around Lutz’s personal experience and his business endeavors.
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