McKinsey & Company just published the results of a series of interviews with 14 CEOs and chairmen of major companies (including 3M, Cardinal Health, Travelers Insurance, Pepsi Bottling Group, Procter & Gamble, Macy’s, Sysco, and Northrop Grumman) asking them to reflect on the current recession and previous challenges they had faced in a turnaround or a crisis. What emerged from the interviews are six principles that all leaders can reflect on to guide their behavior in the executive suite and the boardroom, as well as interactions with employees, customers, and investors.
- Confront reality
- At board meetings, put strategy center stage
- Be transparent with employees
- Be transparent with investors
- Build and protect the culture
- Keep faith with the future
You can access the complete McKinsey article here. (It’s free, but registration is required.) While you’re there be sure to check out the McKinsey archives and also sign up to begin receiving the free McKinsey Quarterly, a great business strategy resource.
For more information on leading in the new business reality, also be sure to check out Blanchard’s recent articles on Making the Shift from Survival to Growth and Creating a Change-Ready Organization. Both are available at no charge at the Blanchard website.