What actions can executives take to lead their company to success in the current economic environment?

Success in this environment will depend upon the industry and to a large degree expectations. If Chrysler survives they will be heroes…if Microsoft only lays of three people and revenue doesn’t grow by 15% they will be failures. So the first issue is to define what can be reasonably accomplished in this market.

Secondly – it’s truly a survival state for most companies. Make it through the storm to fight again. So how do you tactically trim the company to size and efficiency that will sustain itself with 25-50% revenue reductions over the next 18 months?

And the final point I’d make is how do you keep your team intact, motivated and excited to be on the ship with you?

-Jackson Weaver, Principal, Seattle.

These times are particularly challenging because business leaders must defensively look to the very near term and steer a course for the longer term. The companies that do both will survive and not be defeated by stronger competition when the economy improves.

Plans must be focused and communications simple to make sure the rest of the company, no matter what size, knows the direction and follows the lead. Clear communications that reflect the intrinsic culture will minimize employee anxieties and contribute to effective implementation.

Finally, it is critical to know the opportunities that exist in terms of pricing and the competitive set because margins and share will be challenged.

-Jim Fisher, Principal, Boston
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Decisive leadership is what is needed today. Fear of the unknown is rampant. Consumers are being overly cautious and employees are downright scared. Executives need to be clear about their strategy and confident in their demeanor. Let me be clear, confident, not arrogant. Confidence comes from strong conviction which requires thorough analysis and specificity in plans. When a detailed plan is in place it is more than a wish; hope is not a strategy, and it is impossible to be confidently hopeful.

-John Kaminski, Principal.