2020-05-01_Harvard_Business_Review_OnPoint

SpeciaI Issue Lessons from some of the most difficult challenges we’ve faced: 9/11, Hurricane Sandy, the 2008 financial crisis, and more The Best of HBR Summer 2020 HBR.org How to LEAD in a Time of CRISIS Crisis communication / Providing predictability Dealing with trauma / Weathering a downturn Thinking like a futurist / Building resilient growth FROM THE EDITORS Confronting a Changing World set out to cover marketing in this Summer Special Issue, and we were readying those materials for the printer when the world changed In the early spring it quickly became clear that the worldwide spread of the coronavirus would have vast implications for our careers, companies, economies, and psyches, even if many of those implications are still unfolding as we go to press With problems and stakeholders clamoring, leaders are being forced to make some of the most important decisions of their careers to keep their people safe and their companies afloat, all without knowing what tomorrow will look like, much less next quarter But though this crisis looks different from any we’ve faced, it’s not the first time leaders have had to confront a large-scale disaster, a struggling economy, or the unknown Abandoning our marketing issue, our team delved into HBR’s archives to find the best wisdom about leading through a crisis that has come out of a century of management thinking In these pages we’ve included articles on communicating through a crisis, finding growth in a downturn, managing traumatized O U R S TA F F H A D I N I T I A L LY HBR Special Issue  Summer 2020 employees, embracing an unknown future, and avoiding layoffs We were able to look to the best advice that has come out of research and practice from crises such as the 9/11 attacks, the fiscal crash of 2008, and Hurricane Sandy In aggregate, these articles make it clear that the best leaders more than keep their organizations going through tough, uncertain times: They provide a source of steadiness and direction that brings out the best in their people That might mean the difference between a hollowed-out organization and a staff that’s well positioned to innovate and create growth as our new normal sets in It might mean the difference between everyone running in opposite directions and a team that sustains high performance even in the face of rapid change And it might simply mean an employee who remembers amid the turmoil and trauma his or her boss’s moral courage or compassionate human face Be well, – The Editors SUMMER 2020 Contents Leading in a Crisis Leadership in a (Permanent) Crisis | 10 Ronald Heifetz, Alexander Grashow, and Marty Linsky Crisis Communication: Lessons from 9/11 | 18 Paul A Argenti Leading in Times of Trauma | 26 Jane E Dutton, Peter J Frost, Monica C Worline, Jacoba M Lilius, and Jason M Kanov Leading, Not Managing, in Crisis | 34 Daniel McGinn In New Jersey, Good Crisis Management Has Mitigated Sandy’s Impact | 35 Lauren Stiller Rikleen What Aircraft Crews Know About Managing High-Pressure Situations | 36 Jan U Hagen, Zhike Lei, and Avner Shahal How Chinese Companies Have Responded to Coronavirus | 39 Martin Reeves, Lars Fæste, Cinthia Chen, Philipp Carlsson-Szlezak, and Kevin Whitaker How to Reassure Your Team When the News Is Scary | 43 HBR Special Issue  Summer 2020 Allison Shapira Preparing Your Company for a Crisis | 44 Marshall Goldsmith KELLY ROMANALDI Culled by the editors of Harvard Business Review from the magazine’s rich archives, these articles are written by some of the world’s leading management scholars and practitioners To help busy leaders apply the concepts, they are accompanied by “Idea in Brief” summaries YOU WON’T BE DIFFERENT YOU WILL BE CHANGED GO We’re all looking for meaning and purpose in our work Whether you’re looking for something “more” or just ready for a change, Harvard Business School Executive Education can help you turn a career into a calling and propel your life’s work LEARN MORE AND APPLY WWW.EXED.HBS.EDU/GO SUMMER 2020 Our Commitment to Sustainability We’re proud that the paper we use in our print magazine is certified under the Sustainable Forestry Initiative® program, meaning that it comes from responsibly managed sources and is a renewable resource Embracing Uncertainty Living in the Futures | 46 Angela Wilkinson and Roland Kupers Managing When the Future Is Unclear | 56 Lisa Lai How to Do Strategic Planning Like a Futurist | 58 Amy Webb You Can’t Make Good Predictions Without Embracing Uncertainty | 62 Peter Hopper and Carl Spetzler Predicting the Future | 64 How to Protect Your Job in a Recession | 90 Ania G Wieckowski Janet Banks and Diane Coutu Weathering the Business Cycle How to Survive a Recession and Thrive Afterward | 96 Walter Frick Seize Advantage in a Downturn | 66 David Rhodes and Daniel Stelter Layoffs That Don’t Break Your Company | 74 Sandra J Sucher and Shalene Gupta Robert I Sutton HBR Special Issue  Summer 2020 W Chan Kim and Renee Mauborgne Companies Need to Prepare for the Next Economic Downturn | 104 Martin Reeves, Kevin Whitaker, and Christian Ketels What Organizations Need to Survive a Pandemic | 130 Managing Risks: A New Framework | 108 Nitin Nohria Robert S Kaplan and Anette Mikes How Kaiser Permanente Prepares for Disasters | 132 Managing 21stCentury Political Risk | 118 Condoleezza Rice and Amy Zegart How to Prepare for a Crisis You Couldn’t Possibly Predict | 128 Tom Hanenburg, Shakiara Kitchen, and Suzy Fitzgerald How the Internet of Things Can Prepare Cities for Natural Disasters | 134 Kris Tremaine and Kyle Tuberson Chris Clearfield and András Tilcsik Executive Summaries | 136 MATT CARLSON How to Be a Good Boss in a Bad Economy | 82 How to Achieve Resilient Growth Throughout the Business Cycle | 102 Preparing for Risk Go ahead Love your job Your people at their best glintinc.com