Leadership In Crisis Situation

Leadership in Crisis Situation- Crisis Management in US By Juhi Sharma

Current Financial Crisis
The current financial crisis is caused by the lack of trust between the banks, each fearing that the other will not be able to pay back its debt.
Somewhere or the other, Trust (Social Value) turned out to be the underlying cause of the failure of the economy.

How Franklyn D. Roosevelt combat - Great Depression of 1929
Franklyn D. Roosevelt created a large public works projects (that created jobs and benefited commerce).
He also started “Fireside Chat” series of communication with the American people.
Focused on the task of building people’s Trust in their leaders and institutions and the projects started.

Leaders: Its time to Lead
Leadership: Caliber and strength will be tested.
If the leaders are not aware at such critical moments, as Herbert Hoover was not at the start of the Great Depression, people will quickly lose confidence in them and things will get worse quickly.

Leaders: Steadiness & Decisiveness is Crucial
Leaders have to show stability and steadiness, they cannot act or communicate in panic.

Leadership in Action
The steadiness and decisiveness of New York Mayor Rudolf Giuliani during September 11 is a model of leadership in action.

Leadership: means Trust
What exacerbated the financial crisis in the US was that it started during the last few months of George Bush’s term, when he had the lowest level of popular approval in history.
Bush attempted to reassure Americans but it did not work because most of them believed he had relied on shaky evidence to start the Iraq war.
He started losing trust among people.
His speeches to stem the financial fall had no impact until a specific action started to take shape.

Leaders: Build Reservoir of Trust
A leader with a bigger reserve of trust might have had a better impact on the situation in the early crucial days in US.

Leaders: Communicate & Inspire
During tough times, people need both information and inspiration.
Follow 3C in information: Information must be credible, compelling, and continuous.
People can quickly lose faith or regain confidence depending on the message and, more importantly, the messenger.
People are hungry to play a role larger than themselves in life and will follow and reward the true leader who will stir in them the passion to rise to the occasion and achieve great accomplishments.

A trusted leader with an honest, inspiring message can achieve miracles.

Leadership In Crisis Situation

by Juhi Sharma on Nov 05, 2008

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