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Managing in Troubled Times Case Study
Case Title:
Troubled Times at Morgan Stanley: Strategic Missteps of Philip J. Purcell?
Publication Year : 2005
Authors: Smita Chakrabarty, Souvik Dhar
Industry: Capital Market
Region: USA
Case Code: TRT0064
Teaching Note: Not Available
Structured Assignment: Not Available
OR
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.
Pedagogical Objectives:
- To discuss the challenges faced by Philips J Purcell in turning around the fortunes of the company.
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
