Turning crisis into opportunity: The key role of leadership

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

Effective leadership is a vital ingredient in the success of any organization. Many leaders are competent enough when times are prosperous. But when things get tough, only the best are able to step up to the plate. It is somewhat disconcerting that crises are a frequent occurrence in the business world. Such problems manifest themselves in various guises and their consequences often have the potential to be catastrophic. The demise of high‐profile corporations like Enron is ample testimony to that. One sad fact of a company crisis is the ripple effect, ensuring that few people emerge unscathed. The positions of management and employees alike become precarious, while shareholder investments are equally insecure.

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to digest format.

Citation

(2013), "Turning crisis into opportunity: The key role of leadership", Strategic Direction, Vol. 29 No. 4, pp. 29-32. https://doi.org/10.1108/02580541311311302