| By Manuel Bermejo, Professor at IE Business School
The long honeymoon that the Spanish economy has enjoyed means that many senior managers have not yet had to rise to the challenge of a crisis. The moment has come for a complete change of the way we think and manage.
The current period of crisis and uncertainty is leading to tension and difficulties for company managers. In addition, owing to a lengthy period of growth in recent years, a good part of the senior management of many businesses has never had to face the challenge of managing a company with the wind against them.
It is time to recover a strategic view and act differently since the outlook has changed radically in recent months. Therefore, the first consideration would be to move away from old paradigms that almost certainly cannot be applied in today’s world. We need to adapt to the new context and, as human beings, that is never an easy task. With this in mind, I offer the following Decalogue:
– Management by values: I consider it fundamental to recover values such as austerity, honesty, long-term vision, strategic alignment, commitment, work, perseverance, social responsibility… It is not a matter of earning money at any price and ignoring everything else. Speak with many family business owners and you will find magnificent examples of what I am talking about.
– Strategic thought: separate what is urgent from what is important. Many important issues are never approached and give rise to situations that are unsustainable in the long term. Government bodies must be created as true watchtowers to gain a peripheral view and take decisions that anticipate change. In all sincerity, many of today’s difficult situations could have been foreseen some time ago and corrective measures could have been taken, but sometimes you can’t see the wood for the trees.