Business Leader

We are currently facing a crisis unlike anything we’ve experienced before. It doesn’t matter whether you look at the financial markets, the housing market, or SMEs, the story is the same. WE’RE IN A RECESSION! RUN FOR YOUR LIVES!

Unfortunately as managers in businesses, we cannot simply ‘run for our lives’ and must weather the turbulant time ahead. Should we press on, driving the same values and orders through to our staff to show commitment and solidarity? Or should we formulate new strategies and implement lots of change to show people that we’re trying to combat the situation? There are good cases for either side, which I’ll present below.

Change

Lets start with the most obvious option to write about. Change. A well used word since Obama started slinging it around last year, but is it right for your business? Would a manager championing a change in the way leadership is demonstrated be necessarily be making the right move?

1. As a shop floor or assistant manager. To see that management are changing the way things are done, and who’s in charge of what, and how many new intiatives have bee started can be a very reassuring thing. However this is positive benefit is limited if similar change failed to produce results in the past, so take that into account.

2. It’s without doubt that as business risk increases, companies have to react faster to changes in the market place. If a rearrangement of hierachies and new visions and intiatives from business leaders will help achieve this, then it should be encouraged. You should however keep your eye out for loss of good knowledge. If movement of job positions and reporting lines shatters the environment that existed previously, then you may be hindering the best ideas from the well experienced staff getting to the right managers. When looking at the benefits of a new intiative, always consider what you’re losing too.

Continuity

1. Confident continuity and resolve of existing leadership ideas and techniques and intiatives give a clear message about the vision of the management. Leadership needs to be strong, and to stay on message even when times get tough is a brilliant bonus for your credibility. Ensure that you can justify WHY you’re staying on the same path and not changing however. Lack of commmunication could lead to employees viewing you as ‘out of touch with the economic reality of it all’.

2. If a senior manager stays his course and doesn’t start firing or moving people around when things get tough, it shows that he places alot of trust in his staff beneath him, and that he appreciates the work they have already done. As an extension, these employees should be engaged with EVEN more during the course of the recession. This will support the trust you have in them, and the free flow of ideas from them to you, will actually help you succeed at staying ontop of it all anyway.

So there you have a few of my thoughts on the subject, I want to keep the discussion going though; it doesn’t end here. So please leave comments below!

Tags: Change Of Leadership, Recession

This entry was posted on Monday, March 30th, 2009 at 11:59 am and is filed under Business Leader. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.