What challenges might a company face when trying to implement similar strategies to those used by Gerstner at IBM?

The strategies discussed in "Who Says Elephants Can't Dance?" have significant potential for implementation in real-world scenarios. The book outlines the successful turnaround of IBM under the leadership of Lou Gerstner. Key strategies included cutting prices and investing in CMOS technology, which helped IBM survive a near-collapse. These strategies can be applied in other businesses facing similar challenges, such as the need for cost reduction, technological advancement, and organizational change. However, the specific application would depend on the unique circumstances of each business.

The decision-making process in 'Who Says Elephants Can't Dance?' challenges existing paradigms in business leadership by demonstrating the importance of bold, strategic decisions in the face of adversity. The book recounts how Lou Gerstner, the CEO of IBM, made the tough decision to cut prices and invest in CMOS technology, despite the short-term decline in revenue. This decision was contrary to traditional business practices, which often prioritize immediate profits over long-term sustainability. Gerstner's approach underscores the need for leaders to be visionary and willing to take calculated risks for the long-term success of their organizations.