 Leadership Challenges in Uncertain Times
by Ann Howard, Chief Scientist, DDI
Today, the financial turbulence from the capital market crisis has set off tidal waves that threaten to capsize all but the hardiest organizational ships. Most companies face dramatically different business challenges than those they encountered during most of the previous decade.
In the past few months, we’ve been inundated with freely given advice about the actions organizations need to take to survive the downturn: focus on sales, stay close to key customers, cut costs in areas like travel and marketing, reduce inventory, lay-off non-essential staff, and so forth. And while this is all solid advice, little attention has been paid to how CEOs should involve their leadership team in implementing these actions and whether leaders have what it takes to carry out the strategy successfully.
We address these issues in DDI’s two newest white papers, Leaders Without Sea Legs: Threats to Staying Afloat in Uncertain Times and Surviving and Thriving in Today’s Economic Environment: Perspectives and Best Practices for Talent Management Professionals. In the following article, derived from these papers, we examine what is needed from leaders today, who’s ready for the challenge (your “steadfast first mates”), and how to help those that aren’t quite ready (your “wobbly first mates”). Read the article.
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