Q 1. Please read the case let and answer the following questions.

The year 2008 was a year of economic crises around the world. Who managed best during such times? Business Week identified twelve executives who performed well during difficult times. Here are some examples and what one can learn from them:

Jim Sinegal, the CEO of Costco, did not raise prices despite rising costs. This helped the company to gain market share. The members-only retail chain achieved that 87 percent of members renewed their membership. Sinegals common-sense approach to management worked well.

Frank Blake, the CEO at Home Depot, simplified his company and increased morale among its employees. He thinks that people should feel comfortable in speaking their minds. He also visits yearly Jack Welch, the former GE CEO, for advice.

Mark Hurd, the CEO at Hewlett Packard, was successful by keeping his eyes on cost, improving efficiency and focusing on innovation. He got rid of businesses that were not No. 1 or No. 2 in their field. This is similar to Jack Welchs early approach at GE.

David Axelrod, main strategist of the Obama campaign, helped Obama to gain the presidency of the United States of America. He helped to communicate Obamas vision of change. He recruited effective people who worked well together through good conflict resolution skills. He viewed himself as the messenger for Barack Obama.

There are also Non-American executives among the best 2008 managers.

Satoru Iwata, CEO of Nintendo in Tokyo, doubled the sales of the successful Wii. Consumers spent money on this innovative product despite hard economic times. He planned to continue redefining games, music, camera, and even health management features.

Takeo Fukui, CEO of Honda in Tokyo, continued to focus on fuel-efficient small cars with his efforts on innovation and research. His managerial approach was and is influenced by the classic American book How to Stop Worrying and Start Living by Dale Carnegie.

Peter Loescher, CEO of Siemens in Munich, did a good job of restructuring the company while at the same time dealing with the corruption and foreign bribery charges. His advice: Listen, and then make clear decisions.

Jeroen Van Der Veer, CEO of Royal Dutch Shell in the Netherlands, is guided by the philosophy of: Eliminate, Simplify, Standardize, and Automate.

Questions

1. Based on the information given choose the top three executives who tackled the 2008 crisis in an excellent way. Please give reasons for your choice. (6)
2. Best managers are effective and efficient. Comment on this statement. (3)
3. Name an Indian business leader who in your opinion is successful. Give reasons for your opinion. (3.5)