C.E.O. Briefing: Corona Virus Crisis, Remembering Welch, and More…
At Ferguson Interests LLC, we occasionally come across some great content that we feel is worth sharing. In a recent newsletter from Chief Executive, we uncovered some fascinating insights and thought that we would pass them along to you. First, we would like to address the issue of the Covid-19 Coronavirus and our response as CEO’s and then provide you with the aforementioned timely topics of interest for your review..
CEO’s Response To Coronavirus
As CEOs, we are consistently faced with external issues that demand our attention. Such is the case with the Covid-19 Coronavirus. The news coverage on the topic and, frankly, the ambiguity leaves leadership in the lurch as to how to convey policy in light of the facts versus the hysteria portrayed in media. What we do know about the coronavirus is that it is a real threat, but not an impossible one. Much like the flu strains of the past, these kinds of the virus should be treated similarly. Common sense and hygiene should be the focus and not panic. Leaders are in a unique position to calm and quiet issues that, if left unchecked, could create pandemonium and cost in productivity. Of course, the CEO’s must be concerned about the impact that these issues can bring to a global economy with factories shutting down and production postponed.
What We Do Know
There are protocols for any illnesses that should already be in place within your business. During flu season, these protocols include, keeping surfaces clean, using disinfectant sprays more liberally, washing hands frequently, common courtesies such as covering your mouth when you cough or sneeze. Most employers and leaders would rather see an employee who is ill stay home, recover, and see their physician, than have them tough it out and possibly spread the illness amongst their colleagues in the course of daily work. In times like these, provisions should be made to limit travel and unnecessary engagement in public places. Most of these prescriptions are, of course, common sense.
Leaders Are Born From Adversity
As a CEO, dealing with a global pandemic situation is an opportunity to lead with confidence. Your employees are generally capable of responding to these kinds of situations responsibly, and your guidance and reassurance will serve you and your business well. Your employees will look to you to address these kinds of topics and provide insight and policy. If no such plans currently exist, now is an excellent time to establish them. Utilizing information and best practices provided by the Center for Disease Control (real-time updates from CDC) will provide you with foundational boilerplate information for dissemination amongst your ranks. As more detailed information is made available, this, too, can be distributed. Still, your aim as CEO is to qualify fact from hype and lead your company through what may very well end as abruptly as it began. This speaks to the homeostasis of a business and its ability to adapt (which will be discussed in greater detail in an upcoming article). Good leaders take the challenges of adversity and can effectively use this same adversity as an opportunity to reinforce steadfast leadership abilities.
More Articles On This Topic and Other Timely News:
This Too Shall Pass– In this article, Fred Hassan builds a case for calm in the Covid-19 Storm. As CEO’s we are regularly faced with challenges.
Remembering Welch– In this article, Jeffrey Sonnenfeld remembers a unique titan of industry in a touching article honoring Jack Welch.
The Silicon Slide– Craig Guilot explores how Silicon Valley companies are moving to pro-business and pro-innovation states offering lower costs and impressive GDP Growth rates.
Gulfstream Aerospace Goes Wisconsin– Seeking to expand its services division, Gulfstream evaluates its options.
Capital Cure– Nasdaq CEO Adenea Friedman argues that the coronavirus is not a reason for market panic because markets have historically been quick to recover from pandemic threats.
Twitter CEO Steps Down– Elon Musk jumped to the defense of fellow tech wunderkind Jack Dorsey, as Dorsey faces pressure from activist investor Elliott Management to step down as the CEO of Twitter.
Finding flexibility-Versatility is a must for great leadership, but what exactly does that mean? A look at what defines versatility and how CEOs can develop it.
We hope that you will enjoy reading this timely subject matter and will keep you posted as we discover more. Be on the lookout for more relevant information from Ferguson Interests.