Troubled Times at Morgan Stanley: Strategic Missteps of Philip J. Purcell?
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Code : LDS0013
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Region : USA |
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Abstract: Philip J. Purcell took over as the Chief Executive Officer (CEO) of Morgan Stanley in 1997. Dean Witter Discover & Co was merged with Morgan Stanley in the same year. Although initially the company recorded robust performance, post 2000 the performance started deteriorating and the critics accused Purcell's strategic missteps as the reason. As a result, Purcell had to step down as the CEO of the company on June 13 th 2005. But his supporters were of the opinion that his strategies would have been successful eventually and he was merely a victim of circumstances. |
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Pedagogical Objectives:
Keywords :Morgan Stanley; Philip J Purcell; Strategic missteps; Discover credit card; Investment bank; Group of 8; Retail brokerage; Asset management; Managing in Troubled Times Case Study; Spin-off; Cultural differences; Consumer–corporate conglomerate; Dean Witter Discover & Co.; Financial supermarket
Contents :
» Morgan Stanley under Philip J. Purcell: The Strategic Missteps?
» The Troubles Compound
» The Challenges for the New CEO
