On Forbes.com, Dr Saj-nicole Joni, chief executive of Cambridge International Group, believes it is possible for managers to exploit business opportunities in the economic downturn, and urges leaders to "never waste a crisis".
Joni says: "We don't yet know how hard this crisis is going to be, but there is a shared sense that beyond the current events lies significant opportunity."
The author asks: "What steps can executives take to move on the opportunities, while at the same time paying attention to all the demands of the moment?" The answer comes via three main points:
1) Figure out how to survive. What metrics from the past will still give useful indicators and what do you need to look at now? Balance optimism with realism and listen to creative dissent.
2) Ask yourself what you can do now that you couldn't do before. Perhaps this crisis will allow you to dramatically improve brand loyalty. Maybe it's time to promote some of your employees with the highest potential, without worrying if someone else feels overlooked.
3) Don't whine. Joni notes that, rather than crying, "Why me?" in times of crisis, good leaders put aside anger and instead are glad that they are in a position to respond to a once-in-a-lifetime set of circumstances.
Never Waste A Crisis
Saj-nicole A. Joni, Forbes.com, 24/11/08
