Leading During A Crisis...

There are several classifications of crisis, but for this thread,
Let's focus on Recession.

And since we are into Leadership during a crisis,
let's first answer the W's and H of Recession for the sake
of our non-economist friends.

What is a Recession?
In it's simplest term, it is the fall in trade or in the economy.

What is the basic cause of Recession?
Lack of an agent of "transformational growth".

When does Recession take place?
Actually, there are various ways of deciding if a Recession
is taking place... and the usual one is when the GNP fails
for three (3) consecutive quarters.

How do we fight Recession?
We use the Keynesian Principle which is to "increase spending
specially for investment purposes".
And the way to increase spending is by lowering interest rates,
making it easier for business to borrow and invest; or if need be,
supplement private investment with public spending.

See, in periods of "transformational growth", new technologies
literally reshape the economic landscape, opening whole
new territories to business investment.

Now that we have an idea on Recession and some lessons
in Economics, let's get into the meat of things - Leadership.

TO EFFECTIVELY LEAD IN CRISIS, we should...

1. Know the "exact" cause of the crisis.
2. Understand how the Organization is affected by the crisis.
3. Know the effects of the crisis specially in your market, partners, suppliers, competitors, etc..
4. Understand the alternatives on how to survive and make the most out of the crisis.
5. Have a united team of strong-willed and competent people.
6. Have a "flexible" contingency plan.
7. Have an "eye" for opportunities and a "nose" for pitfalls.

Mind you - when times are bad, it's when opportunities and pitfalls are high;
however, note that it's a sign that an area is not performing well.

It is, therefore, crucial to note that how we maneuver during crisis
lies on how we are really built from the inside.
After all, this is what this blog site is really all about...
Leadership Enhancement.

...

As we all know, when the going gets tough, the tough gets going.

This is the reason why Character Strength is important in Leadership.
It is because the business environment is uncertain...
It is because life is uncertain.

And because things are uncertain, this is when relationships count.
Relatives, friends, business associates, peers, colleagues,
and specially your family or spouse.

Whichever way you may have built them would tell
on your capacity to hang in there and bounce back.

"The Best rose bush after all is not that which has the fewest thorns
but that which has the finest roses." - Henry Van Dyke

With a strong and sound character plus a good support system,
this now clears our minds of burdens and thus preparing us
for the tough grind.

As in a Recession, Leaders should be that "catalyst"
in bringing about or bridging that channel for the burnt bridge.

Do you have what it takes to Lead During A Crisis?

I suggest you reflect on the movie "Flight Of The Phoenix".

Remember...
The Key for Effective Leaders is having the Ability to
Turn Crisis into Opportunity.