ONE PAGE PER QUESTION(2 QUESTIONS) FROM READINGS - TWO PAGES NEEDED ----READINGS ATTACHED
Question # 1: What are your key takeaways from this week's readings?Question # 2: What would be your strategy to mitigate global political risk?
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[email protected] www.hbr.org Contents Introduction Broadening Your Perspective on Crisis Leadership ix Thinking holistically about the pandemic and recovery. by Martin Reeves Section 1 Leading Your Business 1. Four Be hav iors That Help Leaders Manage a Crisis 3 Start by coaching your team to decide with speed over precision. by Chris Nichols, Shoma Chatterjee Hayden, and Chris Trendler 2. What Are Companies’ Legal Obligations 13 Around Coronavirus? Eight factors leaders should know. by Peter Susser and Tahl Tyson 3. Real Leaders Are Forged in Crisis 25 Lessons from Lincoln, Churchill, MLK, and others. by Nancy Koehn 588-86221_ch01_3P.indd 5 5/20/20 2:21 PM This document is authorized for use only by Atul gupta (
[email protected]). Copying or posting is an infringement of copyright. Please contact
[email protected] or 800-988-0886 for additional copies. vi Contents Section 2 Managing Your Workforce 4. Fifteen Questions About Remote Work, Answered 39 How leaders, man ag ers, and employees can make the sudden shift. by Tsedal Neeley 5. How to Manage Coronavirus Layoffs with Compassion 53 Especially if you have to deliver the news remotely. by Rebecca Knight 6. Your Employee Tested Positive for Covid-19. 63 What Do You Do? Be compassionate— but act quickly. by Alisa Cohn 7. How Can’t- Close Retailers Are Keeping Workers Safe 71 Six lessons from grocery stores and other essential businesses. by Sarah Kalloch and Zeynep Ton Section 3 Managing Yourself 8. How to Manage Your Stress when the Sky Is Falling 83 Control your physical and mental arousal like an athlete. by Michael Gervais 588-86221_ch01_3P.indd 6 5/20/20 2:21 PM This document is authorized for use only by Atul gupta (
[email protected]). Copying or posting is an infringement of copyright. Please contact
[email protected] or 800-988-0886 for additional copies. vii Contents 9. Three Tips to Avoid Working- from- Home Burnout 93 How to leave work at work when you don’t leave the house. by Laura M. Giurge and Vanessa K. Bohns 10. That Discomfort You’re Feeling Is Grief 101 The classic five stages of grief can help us find meaning in this moment. by Scott Berinato Section 4 Seeing Beyond the Crisis 11. Ensure That Your Customer Relationships 113 Outlast Coronavirus Five strategies for communicating with customers during a crisis. by Ted Waldron and James Wetherbe 12. Understanding the Economic Shock of Coronavirus 123 What paths could recovery take? by Philipp Carlsson- Szlezak, Martin Reeves, and Paul Swartz 13. What Will U.S. Labor Protections Look Like 137 After Coronavirus? Move beyond short- term needs to long- term reform. by Megan Tobias Neely 588-86221_ch01_3P.indd 7 5/20/20 2:21 PM This document is authorized for use only by Atul gupta (
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[email protected] or 800-988-0886 for additional copies. viii Contents 14. We Need Imagination Now More Than Ever 147 It’s crucial for creating new opportunities and finding new ways to grow. by Martin Reeves and Jack Fuller About the Contributors 161 Index 165 588-86221_ch01_3P.indd 8 5/20/20 2:21 PM This document is authorized for use only by Atul gupta (
[email protected]). Copying or posting is an infringement of copyright. Please contact
[email protected] or 800-988-0886 for additional copies. ix Introduction BROADENING YOUR PERSPECTIVE ON CRISIS LEADERSHIP by Martin Reeves In the midst of the Covid-19 pandemic, the topic of crisis management is at the forefront in business conversations worldwide. This concentration on surviving the imme- diate crisis is understandable and useful in the short term—it enables us to focus on the immediate, high- stakes issues we are all facing. But with constant urgency and stress comes a narrowing of perspectives and time horizons. This inhibits deeper and broader reflection, which is necessary in responding effectively to the crisis, 588-86221_ch01_3P.indd 9 5/20/20 2:21 PM This document is authorized for use only by Atul gupta (
[email protected]). Copying or posting is an infringement of copyright. Please contact
[email protected] or 800-988-0886 for additional copies. x Introduction rebounding from it, and reinventing our businesses after it passes. A return to long- term and broader thinking won’t happen by default. One of the key roles for leaders, now that the initial shock is behind us, is to legitimize and foster a rebroadening of perspectives. In my role as Chairman of the BCG Henderson Insti- tute, I’ve interacted with hundreds of companies in client roundtables over the past few weeks, and it has struck me that many companies are still stuck in reacting to the immediate crisis. Reaction is only the first stage of a mul- tistage game. The urge to minimize damage will never, for example, result in designing creative strategies to ad- dress new needs and shape the emergence of new market segments. To balance crisis management with thinking holistically about the crisis and its aftermath, leaders need to reframe their thinking and action appropriately as each phase unfolds. A few years ago, I coauthored a book titled Your Strat- egy Needs a Strategy, which proposed that diff er ent situa- tions call not only for diff er ent strategies but for diff er ent approaches to strategy and prob lem solving. Specifically, we proposed a strategy palette, comprising five distinct styles of prob lem solving: classical (plan driven), adap- tive (iterative experimentation and adjustment), shaping (coevolution and collaboration), visionary (creative), and renewal (turnaround). Each style requires adopting the 588-86221_ch01_3P.indd 10 5/20/20 2:21 PM This document is authorized for use only by Atul gupta (
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[email protected] or 800-988-0886 for additional copies. xi Introduction right model, tools, metrics, be hav iors, and leadership styles to effectively respond to the situation at hand. In the language of the strategy palette, companies facing Covid-19 need to create temporal ambidexterity: the ability to switch and apply diff er ent problem- solving styles over time. First, we need to react urgently and pragmatically to the crisis, using a renewal approach. But after this reactionary phase we need to implement planned mea sures to manage cash burn in the now inevi- table economic downturn, using a classical style. As the disease and the economic aftermath develop unpredict- ably, we need to learn rapidly about the latest develop- ments and flex our tactics accordingly, using an adaptive style. Every crisis contains opportunity, and once the