Leading in troubled times

Description

That business cycles exist is well known. Over the last 100 years, there have been several economic downturns, leaving in their wake shriveled businesses, bankruptcies and lingering uncertainty. What remains unknown and difficult to predict are the timing, duration and severity of a recession. This makes it even harder to prepare for the rough and tumble of volatile times-strategically, operationally and psychologically-especially after the euphoria that typically precedes severe economic downturns. In good times, leading is easy. When the Barcelona football team is in form, every decision by the coach or manager appears to lead to the same result-victory. It is when the chips are down that true leadership mettle comes to the fore. So what can leaders do to better navigate troubled timesv-not only to survive, but also to exploit the environment to their advantage?

Publication Date

1-1-2014

Publisher

All India Management Association

Keywords

Managerial psychology, Decision making, Leadership, Economics

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