Crisis Leadership: The Key to Corporate Sustainability in Turbulent Times

Harvinder Soni

Abstract


The credibility and sustainability of organization in the present turbulent times is highly influenced by the perception of their responses during crisis situation. Crisis require a very different sort of leadership than normal times and the current economic crisis in testing leadership skills to the maximum. Boom and bust are part of the business cycle. But it is the leader who can make all the difference - between success and failure. According to Warren E Bennis, the founding chairman of the Leadership Institute at the University of California, “Failing organizations are usually over managed and under led.” A leader establishes vision, sets goals, motivates people and obtains their commitment to achieve the goals and realize the vision. This role becomes all the more crucial during tough times. Crisis leadership can provide the right insight and result in successful diffusion of crisis leading to corporate sustainability.


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ISSN : 2251-1547