Leadership in Crises: The Ultimate Challenge

Abstract

The modern companies normally face the issue how they can manage successfully a disaster as a consequence of faulty product, environmental & financial problem or due to personal scandals. It should be noted that the consequences of any disaster afflicting the businesses are significantly expensive and it takes lot of time to re-establish the reputation of the company. It is prime role of the leadership of the organization to judiciously deal with the situation and to act in the positive manner. Leaders’ tasks are to take up the stock of the existing situation and to take the necessary steps for the restoration of the position, image and reputation of the company. Moreover, leadership in managing crises in the organizations can reduce the harm caused by the catastrophic event. On the other hand, the lack of successful leadership deteriorates the impact. The Leaders in the companies should have necessary skills and competencies with the aim of successfully managing the crises. This paper deals with the essential leadership skills and competencies during the crises besetting the companies and how a good leader should act and take necessary steps to restore the companies’ images and standing.