Anyone can manage a business in good times

Wed September 16, 2009

Anyone can manage a business in good times but it takes a great executive to grow the business in bad times. "What got us here will get us out" is the mantra of a capitulating, stagnant organization. The rules have changed and so must your company in order to endure and grow during this trying economic period. Here are 3 areas to look at and if necessary make changes.
People Out of Their Natural Position
When economic times are good there are a lot of "Battlefield" promotions. People are slotted in positions because of convenience or necessity, not because of qualifications or skill sets. For the most part, these people did the job as the job existed and unfortunately not the way the job needs to evolve. Take a look at your organization; are there people out of position?
Tactical Agility
When times are good most companies go with the flow, "I'm dancing with the one I brought".  Well that was probably a good idea then but the music has changed. Customers, internal and external, are working under new rules and are subject to new and different measurements. Is your company recognizing these shifts in business paradigms? You have the reconnaissance teams on the street are they bringing back solid actionable information? Are you taking the time to put together a plan that combats these changes?
Communication
With all the horror stories we read about or hear about, it's very easy not to make an effort to communicate with employees or direct reports. Left on their own, employees will conjure up the worst scenarios that will be made exponentially worse due to office gossip. When times are good everyone is in good humor but in trying times everyone feels the heat. Now is the time to show demonstrate leadership, let the employees know where the company stands, be visible and be accessible.