We had the pleasure of hearing from NYT Best-selling Author, Speaker and Global Business Advisor Ram Charan and Dr. Henryk Krajewski, Partner at Kilberry, Inc. and CEO/Top Team Advisor on Leading Through Recession and Inflation.
Here are some key takeaways for CEOs and business leaders:
1. FIND EARLY WARNING SIGNS
Consider monitoring these sources for potential flags:
► Yield curve inversion
► ISM Manufacturing New Orders
► Conference Board LEI
2. ESTABLISH A WAR ROOM
► Are you scenario planning and adjusting your inputs accordingly?
► Are you meeting monthly, weekly, or even daily to react?
3. MANAGE FOR CASH AND COSTS
► Every 6 months, think about the potential impacts of cumulative costs increasing over 3-year periods.
► What activities can you stop doing that do not immediately reinforce your competitive advantage?
4. LEADERSHIP MATTERS
► Its not the biggest decisions that matter, rather how those decisions are communicated.
► Be real. Connect emotionally. Create safe environments where uncertainty and anxieties can be expressed and addressed.
5. TALENT MATTERS
► Build moats around your top talent.
► The top 5% often create 30% of your total value.
For more on effective leadership during uncertain times, please check out Ram Charan’s interview with Forbes: Inflation, Recession, and Stagflation: A Conversation With Dr. Ram Charan and Dr. Krajewski’s Leadership Insights on Forbes.com: Henryk Krajewski: Forbes Coaches Council.
Check out our highlights from the session:
