This article presents insights into the unique leadership style of Lee Iacocca, former chairman and CEO of Chrysler Company
Various issues and considerations exist in the current literature of leadership and the plethora of this literature has sent mixed signals to corporate leaders. The only thing we know is that managers may be doing things right but exemplary leaders are doing the right things. Executives should be aware that the emerging business world is exposed to rapid changes, and leadership has become a key way for companies to resolve problems while growing businesses. This article endeavors to explain how today’s corporate leaders can adopt Lee Iacocca’s unique leadership style to provide more innovative solutions, solve business problems, and achieve a higher level of corporate success. Lee Iacocca was admired and trusted by the people as he saved the Chrysler Corporation from insurmountable challenges. Like many corporate leaders, Iacocca was an engineer by trade and a leader at heart. In 1994, one year after he retired from the chairmanship of Chrysler, it was revealed that he was the first choice in a poll of the five most admired leaders. Bill Gates III, the co-founder of Microsoft Corporation, was ranked second. As a veteran of the automotive industry, his transformational leadership saved Chrysler from bankruptcy. In considering whether Iacocca’s leadership style would work in the twenty-first century, we take a critical look at Iacocca’s story at Chrysler Corporation and believe it can provide very important and critical lessons for CEOs in the US and across the globe.
Authors: Mostafa Sayyadi
Link: https://doi.org/10.28945/5425
Cite as:
Sayyadi, M. (2024). Lee Iacocca’s story at Chrysler: How a superstar CEO can be a valuable asset for a company. Muma Business Review 8(12). 165-171. https://doi.org/10.28945/5425