How to Lead in Turbulent Times
Two headlines caught my attention this week. The first one reported that the Conference Board Consumer Confidence Index continued its downward trend in May to a 16-year low. The Index now stands at 57.2, down from 62.8 in April.
The second story read “Gap Turns Lean and Mean” and reported on the company’s 40 percent hike in first-quarter profits. Despite a sharp 11 percent decline in same store sales, tightened inventory and cost-cutting, along with improved gross margins, helped increase the chain’s bottom line.
An article by Bob Prosen, “Leading During Turbulent Times,” in The CEO Refresher spoke to the challenge of leading during difficult times. “This is when leaders must lead with confidence, wisdom and courage,” he wrote. “If not, your employees may not follow.”