Confront reality
'Always question whether the “halo effect” of a business or business situation is blinding you to what lies on the horizon.' - Herbert Henkel, chairman and CEO of Ingersoll Rand
At board meetings, put strategy centre stage
'The board has been heavily involved in strategy formulation with me, and we have a better strategy because of it.' - Bill Nuti, chairman and CEO of NCR
Be transparent with employees . . .
'The only way to address uncertainty is to communicate and communicate. And when you think you’ve just about got to everybody, then communicate some more.' - Terry Lundgren, chairman, president, and CEO of Macy’s
. . . and investors
'Our policy is: “If in doubt, communicate.” We always want to conduct our business with integrity and forthrightness.' - Ron Sugar, chairman and CEO of Northrop Grumman
Build and protect the culture
'Stay focused on culture, people, and values: it’s the area most likely to get compromised in this environment.' - Eric Foss, chairman and CEO of Pepsi Bottling Group
Keep faith with the future
'If you don’t invest in the future and don’t plan for the future, there won’t be one.' - George Buckley, chairman, president, and CEO of 3M.
None of the CEOs interviewed claimed to have attempted anything revolutionary. What was evident, however, was their resolve in pursuing the principles they thought were right, often in the face of opposition. Leadership becomes increasingly important in tough times, when so much is at risk—but it can be even harder to exercise. The six leadership “musts” described above have made the greatest difference for CEOs on the front line.
For more, see - http://www.mckinseyquarterly.com/Governance/Leadership/Leadership_lessons_for_hard_times_2413
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