Companies are facing unprecedented challenges and dropping revenues due to the current global economic slowdown. This scenario spurs lasting changes in business communities, with working from home (WFH) settings proving to be more useful than previously thought.
Business leaders must be agile to remain on top of their game, even in such difficult circumstances. We have collected a list of articles to help managers stand firm and make the best decisions in guiding their teams through the current uncertain climate.
1. Leaders must avoid one big mistake and be aware of three cognitive biases
The normalcy bias, planning fallacy and hyperbolic discounting are three cognitive biases that undermine our defence mechanism against long-term disruption. An Inc. article describes how a business can change its approach and processes to anticipate even unexpected changes to its environment.
2. Ten ways to navigate through critical situations
An Inc. article provides ten methods that managers can adopt to navigate through crises—keeping in mind that they need to make some tough decisions on the fly.
3. Fifteen suggestions to manage remote working
The Harvard Business Review answers 15 questions focusing on how managers can help staff in transitioning to working from home, how effective communication can take place in such a scenario, and how remote work may affect productivity.
4. Five tips on leading teams through a crisis
Dealing with sceptics, thinking ahead and offering certainty are some ideas that Forbes offers executives to help their organisations through tough times.
5. Three ways to anticipate potential disasters
In times of crises, nothing is more critical than thought leadership. Businesses must include dealing with potential hazards in their periodic strategic planning. An Inc. article offers three approaches leaders can adopt to prepare for unexpected disruptions.
More often than not, crises strike unexpectedly, making it very difficult for leaders to prepare to bear the full brunt of their impact. In such troubled times, it falls on the management’s shoulders to rise to the occasion, stand firm and think critically and clearly to make sound decisions—regardless of how challenging they may be.
This article includes a number of take-homes and some food for thought for people in leadership in dealing with the current climate. It aims to provide some tactics to help in weathering the storm, bringing a shred of normalcy in very atypical times.