Crisis management

Three Fallacies of Leadership

Wrede, KW Cognitive Biases, Critical Thinking, Decision Making, Leadership, Leadership Principles, Perception, Uncategorized , , ,

To paraphrase the old saying, “LeadershipFalse 1 2 3 is like the weather – everyone talks about it, but no one does anything about it.” People seem to accept leadership, good or bad, as a cosmic fate that simply happens. If we benefit, great. If we suffer from inadequate leadership, it is perceived as bad fortune and unavoidable.

I do not accept those premises.  Unlike the weather, we can do something about leadership

Leadership development is one of the single most important strategic activities undertaken by business entities throughout the world. To ignore the need for excellent leadership practices is an invitation to catastrophe.

Here is what the science says:

  • Studies show that 50% of all businesses that fail, fail due to bad leadership
  • Effective leadership can increase net margins 1% – 3%

I think there are three main fallacies that directly contribute to poor leadership development:

Fallacy one – “Real” leaders have charisma. Continue reading →

Leadership is Like a Good Suit

Wrede, KW Crisis Management, Leadership, Leadership Development, Leadership Principles, Uncategorized , , , ,

(Or The Fallacy of Leadership Style)

Tux + foam fingerThere are a lot of articles and posts written on the subject of leadership style.  Most of it is based on a faulty premise: you are your leadership style and your leadership style is you.

In other words, people are led to believe that they are defined by their leadership style and they should hone that style into a sharp cutting tool.  However, a sharp tool is not always the best for every job.

“One Style to Rule Them All”

Continue reading →

Your Social Media, Marketing Advantage or Threat

Wrede, KW Business, Crisis Management ,

DSC07453Maybe some of you are dinosaurs who think social media is a passing fad with only a tangential relationship to your business.

I hate to admit this, but I have seen the birth of many services in the last 20 years that I thought had no chance of making it.  I could not at the time understand the utility of services such as short message services or picture sharing.

I realize now that “utility” was the wrong metric.  The correct measure was emotion.  I finally recognized the feeling that short messages gave me.  It was that same secret thrill of passing notes back in high school.  It was a feeling of inclusion that, in my opinion, is the emotional hook of social media.  The service platforms make the pathways for the messages easy and accessible.

Emotion is the essence of marketing.  When people resonate a product strongly with an emotion, you are building a powerful brand.

So what does this have to do social media?

Social media is a means to engage with your customers.  It can build and strengthen customer relationships and get immediate feedback.  Build the connection of the emotion, build the brand.

  • Measure your brand value by following yourself on social media.
  • Measure your competitors’ brands by following their activities (branding, market share, performance).
  • Follow industry events, conferences.
  • Follow campaign effectiveness and reach.
  • Follow industry influencers and connect with their followers for more reach.

That is the “why” of social media.

The “what” is how are you managing it, especially in a crisis? Continue reading →

Bill O’Reilly (Managing a Crisis)

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20150305 Bill O’Reilly (Managing a Crisis)

On the heels of the Brian Williams media crisis, another celebrity was caught up in a crisis similar to, and directly related to Williams.  Bill O’Reilly, the Fox News commentator, was accused of the exact same misconduct in an article from Mother Jones magazine.

Quick review: Williams was suspended by NBC News when it became publicly known that Williams had exaggerated a claim from 2003 that he had almost been killed in Iraq.  He claimed that he was riding in a helicopter when it took ground fire and was forced to make an emergency landing.  The actual facts showed that he was in a group of 4 helicopters at the time and it was a helicopter in front of his that was hit. He was unaware of the danger until after the fact and on the ground.

There is nothing worse for anyone than to be caught in the cross hairs of the media.  It can be a person, a company, or even a brand.  What can you do if you make an honest mistake or if you are the victim of a negative campaign?  How can you survive the experience?

The intent here is not to comment on Bill O’Reilly’ integrity or professionalism.  Let’s analyze how his crisis unfolded and ask how you would handle the situation?  How did O’Reilly do? Continue reading →

Media Crisis Management – Brian Williams

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Crisis Management (1)Brian, Brian, Brian…

Oh Brian.

Yes… Brian Williams.

There is nothing worse for anyone than to be caught in the cross hairs of the media.  It can be a person, a company, or even a brand.  What can you do if you make an honest mistake or if you are the victim of a negative campaign?  How can you survive the experience?

Continue reading →

Speed Bump to Urgency, Dealing with Deniers

Wrede, KW Business, Crisis Management, Leadership, Leadership Development, Recommendation, Turnaround Management ,

During a crisis, time is of the essence.Hand sign 'Stop' (1a)

Momentum is essential and you need everyone working toward resolution, whatever direction it may take.

Your company is facing deterioration, sales are flattening.  A crisis is looming like a boulder balancing on the edge of steep slope, you are running out of cash.  You have six months or bankruptcy.

Change is a source of uncertainty.  Leadership is a necessity to navigate a through periods of uncertainty.  A sense of urgency gives purpose to people during a transition, everyone must feel the urgency and that determination must be transferred to action.  Any distraction that slows the momentum could affect the success of the change strategy.

How do you deal with the person who is disrupting change, the one individual who is slowing everyone and everything down? Continue reading →

Turnaround Tools – Cash Flow and Prioritizing Payables

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The term “turnaround management” may bring to mind the corporate white knight who rides in to save the day and get a business back on track.  An element of truth gives it a certain romantic appeal.

But the term more accurately refers to that point after a company has filed for bankruptcy and has entered receivership.  In other words… creek… no paddle.

Cash flow and prioritizing payables
Cash is King (thank you Luis Pereiro).  You can have an unprofitable company, so long as you are able to meet your cash obligations.  You can have the best company in the world with high profits, but if you cannot meet your payments the company will fail. Continue reading →