Seven Lessons for Leading in Crisis

By Bill George

One of the country's most trusted leaders offers time-tested and real world advice for leading in economic hard times

From business giant Bill George, the acclaimed author of Wall Street Journal's bestseller True North, comes the just-in-time guide for anyone in a leadership position facing today's unprecedented economic challenges. The former CEO of Medtronic draws from his own in-the-trenches experience and lessons from leaders (representing an array of companies) who have weathered tough economic storms. With straight talk and clear directions, George shows leaders specifically what they must do to become strong leaders and survive any crisis. His seven lessons include: Face Reality, Starting with Yourself; Never Waste a Good Crisis; and Be Aggressive: This is Your Best Chance to Win in the Market. Seven Lesson for Leading in Crisis is a survival kit for anyone in a leadership position.

• A concise handbook for applying proven leadership lessons in tough times
• Written by Bill George one of America's most trusted business leaders and author of True North and Authentic Leadership
• Offers realistic actions leaders can take to put their companies on the right long-term path

Seven Lesson for Leading in Crisis gives leaders a solid strategy for staying the course.

• Language: English
• Publisher: Wiley
• Release date: Jul 23, 2009
• ISBN: 9780470557068

Bill George

Bill George was born in Glens Falls, New York. He received his undergraduate degree from Ithaca College and holds master's degrees from the Ohio State University and the State University of New York at Albany. George is a member of the Ithaca College and the Glens Falls High School Athletic Halls of Fame. Prior to entering the coaching field, George spent three years as a special education teacher in Upstate New York.George served as an assistant football coach to Jim Butterfield at Ithaca, as well as at Princeton (1984) and the United States Military Academy Preparatory School (1987-89), and as a graduate assistant at Ohio State (1985-86). George retired in 2020 following twenty-one seasons as the head football coach at the US Coast Guard Academy.George resides in Salem, Connecticut, with his wife, Nancy, and daughter, Lila.

Book preview

INTRODUCTION: THE ULTIMATE TEST OF LEADERSHIP

There is nothing quite like a crisis to test your leadership. It will make or break you as a leader.

Crises have brought down many leaders and their organizations with them, while other leaders have risen to the challenges to prove their mettle.

What makes leading your organization through difficult situations so hard? Like being in a war, crises test you to your limits because the outcome is rarely predictable. You not only have to use all your wisdom to guide your organization through it, you must dig deep inside yourself to find the courage to keep going forward.

LEADERS DEVELOP THROUGH CRISES

The economic calamity of 2008-2009 was not caused by subprime mortgages, credit default swaps, or even excessive greed. These are only symptoms of the real problem. The root cause of the problem was failed leadership from leaders who didn’t follow their True North. In True North, I defined True North as the internal compass of your beliefs, values, and principles that guide you through life. Like being in a crucible, a crisis tests whether you will hold fast to your beliefs.

Staying on course is much easier when things are going well. But will you do so under the enormous pressure that comes with a crisis? Can you stay focused on your True North in the face of temptations to bend the rules to get through the crisis? How will you respond when threatened that everything you built for years might be destroyed?

Leaders aligned with their True North are prepared to guide their organizations through severe situations because they know who they are. They have the self-awareness, self-confidence, and resilience to take responsibility for their failings and lead others through the rapidly unfolding—and often unpredictable—sequence of events. They rise to the occasion, find leadership abilities they never knew they had, and come through with shining colors.

An old English proverb says, A smooth sea never made a skilled mariner. Managing a growing business is a lot easier than leading through difficult times. Growth periods don’t test your intestinal fortitude the way a large-scale problem does, nor do they determine whether you will stay on track in the heat of battle. Running a stable business requires discipline and managerial skills, but it doesn’t test real leadership capabilities.

Unfortunately, there is no training ground for leading your organization through a crisis short of gaining the experience yourself. M.B.A. programs don’t teach you how. Crisis simulation exercises are just that: simulations, not the real thing. Studying cases of leaders in crisis is useful, but you won’t know how you will respond until you go through