During the recession, it is important not to lose perspective or a degree of optimism, balancing it with reality, especially if we have the responsibility to lead people and businesses. Forget conformism and take action. Now management must change the focus and drive internal change in order to get staff involved in overcoming the new situation. In times of growth the efficacy is sought.. Now we must also seek efficiency. The best tools are people and values, so that should always be present in strategies and business decisions.
Management in this time of recession must change direction, take on another way of thinking to help them deal with the crisis knowing that the skills in their possession are: Confidence, Commitment, Responsibility and Motivation.
- Confidence is the engine that allows the leader to act freely and gives the necessary push to take responsibility for their actions.
- Commitment to comply with what is said, defines the degree of reliability.
- Responsibility for actions assumed.
- Motivation. A leader must among other things remove barriers and motivate their workers.
Times of recession and economic instability are an opportunity for the managers of companies to demonstrate true leadership. Leaders have a crucial role to build confidence and encourage employees to focus on the priority areas of business and help the viability of companies in the medium and long term. That capability, strategic vision that allows them to reinvent their business according to the times (crisis…) is where they are shown to be true leaders.
Understand that in every crisis there is at least one opportunity and that if you go out of business, do it in time and in an appropriate manner.
A business adviser will help carry out all this by identifying the strengths and weaknesses of the company and He/She will help to implement the necessary action plans.
(original youtube video of Pablo Cardona, IESE, Bussines Sschool)