Six Things 10.18.22

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5 Rules for Leaders in Unsettled Times

Paul Carroll, Editor-in-Chief of ITL

I'll be quick today, as I'm just back from a long weekend of catching up with my large family (eight of us siblings and my 92-year-old mother, plus spouses and kids and now even a few grandkids) at a niece's wedding three time zones away. But I did want to steer your attention to a McKinsey article that's worth some study on how leaders can steer their organizations through today's craziness (high inflation, war in Ukraine, political uncertainty and on and on) while preparing for what may well be a global recession in the next year. Although I often find leadership articles too airy-fairy, I think the article's suggestions are spot-on for organizations ranging from a small agency up to a massive corporation.

The short version is:

--Don't follow the old rules (such as setting up a crisis task force, which takes too long).

--Prepare for the recession but at the same time prepare to exit it.

--Use scenarios rather than forecasting (which is too broad-brush to identify big problems and opportunities).

--Address burning short-term issues such as financial flows, as well as the longer-term issues.

--Play offense, as well as defense, by looking for growth opportunities as all your competitors struggle, too.

The (slightly) longer version follows.

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