ConceptsNest

BEHAVIOURS THAT HELP LEADERS MANAGE A CRISIS The roles and responsibilities of business leaders have dramatically changed in the past few weeks. Before COVID-19, leaders in high-growth companies were focused on fostering innovation, driving revenue, and gaining market share. Today, many of those same leaders must make rapid decisions about controlling costs and maintaining liquidity . They may encounter unforeseen roadblocks — supply chain issues, team shortages, and operational challenges — that drastically alter the scope of their roles and priorities. All the while, they and their teams are navigating health and safety concerns, working remotely, and supporting their families through the pandemic. Those in charge will be tested in areas where they have not fully developed their leadership muscles, and the learning curve will be steep.   To move forward in a crisis, leaders need to cultivate some behaviours in themselves and their teams. They must decide with speed

What is VUCA and its relevance in business?   VUCA is an acronym that stands for volatility, uncertainty, complexity and ambiguity , a combination of qualities that, taken together, characterize the nature of some difficult conditions and situations. The term is also sometimes said to stand for the adjectives: volatile, uncertain, complex and ambiguous. The term VUCA originated with the United States Army War College to describe conditions resulting from the Cold War. The VUCA concept has since been adopted throughout businesses and organizations in many industries and sectors to guide leadership and strategy planning . An awareness of the forces represented in the VUCA model and strategies to mitigate the harm they might cause are integral to crisis management and disaster recovery planning . Volatility Volatility refers to the propensity for changing from one state to another . Under certain conditions, volatile materials can dangerously explode, changing