The Boston Consulting Group has four videos on "Winning in a Downturn, Accelerating in the Upturn" on the Wharton @Knowledge site. The focus on (1) Generating Cash, (2) Finding Strategic Opportunities, (3) Managing in Turbulent Times and (4) Seeking New Sources of Growth.
A few take-aways:
- Leaders must listen (like never before) to employees, clients and the market to identify opportunities and possible land mines.
- Leaders must focus on maintaining trust (like never before) to keep key talent and teams together. People may stay with a troubled company in a difficult time when the job market is down, but when it picks up, they may bail for other opportunities. Leaders must act with integrity and transparency.
- Leaders must focus on improving morale (like never before) to keep people focused and motivated to perform.