The COVID-19 pandemic is a lesson for a lifetime for organizations across the globe to prepare for unforeseen mishaps. CEOs are responsible for strategizing smart ways to lead the crucial changes.
In this article at Forbes, H.V. MacArthur defines the art of surviving turbulent times for the company leaders. Being the CEO, here are some key considerations to keep in mind:
Think About the Future
Often, people panic instead of peacefully finding a solution to a problem. To remain future-ready, you must stay composed and strategize your next move that may prove favorable for your company. Remember, uncertainties always bring opportunities and challenges together. Without a clear vision, you cannot find the right path.
Make Smart Decisions
Taking no immediate action doubles your troubles. So, take calculated risks to navigate your team to achieve feasible outcomes without hampering the company reputation. Gain clarity over the existing situation and make way for success.
Act On It
As you decide, do not hesitate to execute the action required. However, ensure that your actions demonstrate deliberate thinking and not a panic attack. Maintain a balance between future expectations and ongoing roadblocks to survive the tough route.
Maintain a Checklist
Indeed, you have never faced an economic crisis like the one imposed by the coronavirus outbreak. So, here are some key initiatives you can take to counter future barriers:
Being the CEO, you must often communicate with your staff to ensure everyone is safe and efficient in handling tough situations. Also, reach out to the clients and key stakeholders to maintain transparency with them.
The CEOs must keep a close watch over the financial operations in terms of profit and loss statements. Make constant efforts to improve inflow by getting extended payments or pending transactions from the clients. Also, plan ahead to counter financial risks that may affect your liquid assets in the future.
Strategize ingenious ways for employee engagement to sustain business growth. Do not assume that your staff cannot work amid bleak circumstances like COVID-19. Come up with creative solutions to encourage the team with additional benefits like bonus leaves or pays for their added efforts.
Click on the following link to read the original article: https://www.forbes.com/sites/hvmacarthur/2020/04/09/battle-ready-leadership-tips-for-ceos-leading-through-tough-times/#4de2ca0d1545