Leading in a Crisis

Here are the seven guiding principles in leading a crisis: 1. Design a new business model, start downsizing, or snap up an attractive acquisition before you adopt a new strategy. 2. Develop a game plan that positions you to play both offense and defense -- at the same time. 3. Approach cost reductions strategically on defense, knowing that downsizing affords important opportunities. 4. Be smart about taking advantage of unique opportunities to acquire businesses and talent on offense. 5. Don't design brilliant strategies that are incompatible with your capacity to execute them. 6. Keep people informed. 7. Act like leaders in the face of uncertainty.