Crisis Management: How to be a Leader in Times of Crisis?

Business leaders strive to get through these periods in the most appropriate ways, while everyone, including the team members, are worried. Although the mentioned ways may differ according to the situation and from one leader to another and from company to company, they generally have many common features.

Crisis Management

The rapid changes which come with globalization may push many companies into uncertainties from time to time. Economic and political variables are among the main triggers of these crises. The ultimate way to go through such periods and put in place an effective crisis strategy is to have a successful leader. This is where crisis leadership is needed and only a successful leader can find the best way to tackle the issues with his team members and maybe even turn times of crisis into an opportunity.

It’s not easy to perform as a leader during a crisis while team members might be panicking about a possible trauma on the supply chain or long term goals are at risk. A leader with the ability of foresight, recognizes the crisis in advance and takes steps to get rid of it with the least damage.

An effective crisis management plan includes a response plan and should also be compatible to be used for future crises. By following the development of the crisis closely, the effective leader draws a path for his/her company with his/her team, with certain tools, so that losses and gains can progress in a balanced way. In times of crisis, what is important for leaders is the fact that if there is a solid response plan which involves various tools like social media platforms, effective crisis management will be easier.

Change is one of the most important elements in crisis management. In order for a leader to have a solid foundation in the changing business world, he must accept change and take part in this change.

Leadership Skills

In order to be a successful leader, you need to have certain characteristics. Among the 10 key features that are particularly emphasized by recruitment consultants and psychologists are the following items:

• Good leaders are excellent at communicating. They are aware that teamwork and leadership are the two sides of the same coin and cannot be separated from one other.
• They set a good example for their employees.
• Their motivation is high. They encourage many people in this way.
• They take responsibility. However, they do not have a problem delegating these responsibilities.
• They are attentive, they can easily discover talented people, and they can successfully reveal their potential.
• They are tolerant. When dealing with problems, instead of getting angry easily, they evaluate the situation and follow the course accordingly. They care about being considerate.
• They are open to change. Instead of being stuck with certain thoughts, they can be flexible and produce alternatives according to the situation.
• They are good planners and they are realistic. They offer their employees a planned path that is possible to realize.
• They are unique. In addition to being a leader, they do not lose their unique characteristics. They are aware of what sets them apart from others and are careful to maintain it.

Different Ways of Being a Leader

The wide range of leadership kinds makes this concept difficult to define. Among the features that develop around different approaches and skills; there are many types such as participating leadership, transformational leadership, strategic leadership, servant leadership, and situational leadership. Servant leadership, which is service-oriented and puts people first, is particularly prominent today. There is an important connection between the returns of the modern world and leadership approaches.

The leader, who is expected to be open to change, reviews his/her own approaches as the world changes and tries to keep up with the times. For instance, charismatic leadership, a phrase which suggests ordinary people cannot be leaders, or the idea that the leader needs to be perfect are not in demand today. Instead, transformational leaders who easily adapt to changing conditions are preferred.

The approaches change according to the wishes and needs of the period. For this particular reason, if you care to be a good leader or if you want to have a good leader in your company, it may be the best method to focus on what your current period expects from you and search accordingly. A leader with the necessary skills to manage the times of crisis is someone a company or a business needs even in times when it is ‘business as usual’ for today, to be successful in business is quite a complicated matter.

Especially if the institution is a private equity where the company literally has no existence in the stock exchange. Crisis in a private equity is a whole different story and the leader needs to be compatible with the requirements to handle times of crisis.  

Consulting professional resources to determine the right time and method for people's leadership skills to emerge may be the right decision for your company's future.

Speaker Agency, with its expert Leadership Speakers, can provide you with the support you need to unlock the potential of your team and increase your company's performance consistently.