Index

Abraham, Jack, 117

Abramson, Lyn, 36

Accenture, 128

accountability, 114–118

active thinking, 33

adaptation

in crisis leadership, 52, 53

decentralization and, 22–23

embracing disequilibrium and, 57–59

generating leadership and, 59–62

increasing understanding of, 69, 70, 73–75

leadership in fostering, 54–57

self-doubt and, 32–33

Adobe, 129

Advanced Micro Devices, 71

advantage

exposure assessment and, 2–6

exposure reduction and, 6–13

gaining long-term, 13–15

implementation snags in gaining, 11

prioritizing action in, 15–16

seizing, 1–16

adversity

beliefs about, 33–34

breadth lens on, 37–38

control lens on, 30–31, 35–36

duration lens on, 38–39

emotional traps in, 31–33

impact lens on, 36–37

leadership in, 51–63

lenses for viewing, 30–31, 34

resilience and, 29–30

Äkräs, Juha, 81–82

Allen, James, 107–118

Amabile, Teresa, 85

Amazon, 17, 20, 116, 122–123

American Customer Satisfaction Index, 113

Amirkhan, James, 35, 36

Anderson, Cameron, 66–67

Andreessen, Marc, 79

Antonovsky, Aaron, 36

Apple Computer, 14

assessment

of exposure, 2–6

of rivals’ vulnerabilities, 4–6

Atari, 77

AT&T, 85–86

attachment behavior, 140

attributional styles, 36

authenticity, 142

authority, 61, 66–68

automation, 81

Aventis, 13

Bain, 21

balance sheet, scenarios on, 3

Ballance, Joshua, 25–26

Ballarin, Bertrand, 92–93

banking losses, 2

Banks, Janet, 135–142

Barrett, Craig, 127

BASF, 43, 44

Beck, Aaron, 36

benchmarking, 115

Bernstein, Shai, 21

Best Buy, 54–57, 126

Beth Israel Deaconess Medical Center, 57–59

Bezos, Jeff, 122–123

Billington, Corey, 78

Blake, Frank, 113–114

Blank, Arthur, 112–114

Blockbuster, 122

Bloom, Nicholas, 22

Boston Consulting Group, 1, 12–13

BP, 102

breadth, 30–31, 37–38

Breene, Tim, 119–133

Brenneman, Greg, 113

Browne, John, 102

Budros, Art, 83

Built from Scratch (Bernard and Blank), 113

bureaucracy, 115

Bureau of Labor Statistics, 83

Burns, David, 36

business closures, 20–21

business models, 15

buyback plans, 12–13

Cahuc, Pierre, 24

Campbell, Bill, 78–80

capabilities, renewing, 120, 122–123, 126–127, 129

capacity utilization, 10

capital. See also financial factors

access to, 21

working, 4, 7

Career View, 91

Carnival, 14

Casciaro, Tiziana, 136

Cascio, Wayne, 85

cash position, monitoring and maximizing, 4, 6–8. See also debt

cause-oriented thinking, 38–39

Centre for Economic Policy Research, 24

change, strategy for workforce, 86–95. See also adaptation; reinventing your business; reorganizations

cheerfulness, 136–137

Chizen, Bruce, 129

Cisco, 116

Cleghorn, Jamie, 20–21

coaching

for resilience, 34

uncertainty and, 33

collaborating questions, 33, 35, 37, 39

commitment, 84

communication

about reorganizations, 100, 102

about strengths and weaknesses, 100

of bad news, 77

culture of courageous conversations and, 59

designing messages in, 74–75

with employees, 72–73

in increasing understanding of change, 69, 70, 73–75

with investors, compelling, 12

leaders who shut down and, 69

openness in, 72–73

compassion, 69, 70

in being a good boss, 76–78

“Competent Jerks, Lovable Fools, and the Formation of Social Networks” (Casciaro and Lobo), 136

competition

assessing vulnerabilities of, 4–6

benchmarking against, 115

in economic slowdowns, 123

hidden curve of, 120–122

market valuation maximization and, 12–13

tracking the basis of in your industry, 120

transformation of work by global, 81

complexity, creeping, 108–109, 114

Conan Doyle, Arthur, 71

Conaty, Bill, 131

concentration camp victims, 136

confidants, 62

confidence, 136–138

conflict, depersonalizing, 58–59

consumer debt, 2–3, 4

consumer tastes, 123

control, 30–31, 35–36

good bosses and, 69, 70, 75–76

cookie experiment, 66–67

coping, 36

core operations and identity

distinguishing essential from expendable, 55–56

protecting, 8–12

corporate citizenship, 140–142

costs, 8–9

labor, cutting, 23–25

of layoffs, 84–85

reducing, 5, 8–9, 108–109

of reorganizations, 98–99

Cote, Dave, 89, 90, 91

Coutu, Diane, 135–142

credit

customer, 4, 7

Dow’s rating, 47–48

lines of, drawing on, 7–8

managing customer, 4, 7

credit default swaps, 8

crisis management teams, 16

crucible experiences, 131

cultural fit, hiring for, 130–131

culture of courageous conversations, 59

customers

focus on, protecting your job and, 137

retaining, 9, 85

serving, at Home Depot, 112–114

viewing as underserved, 110

Datta, Deepak, 84, 93

debt

consumer and corporate, 2–3

deleveraging before a downturn, 20–22

in the Great Recession, 21

decentralization, 22

decision making, 22–23, 73

deflation, emotional, 31–32, 36–37

deleveraging, 20–22

Dell, 115–116, 122

Dell, Michael, 115–116

Diabetes, Attitudes, Wishes, and Needs (DAWN) initiative, 125–126

digital technology, 26–27

Dillon, Karen, 48

diversity, leveraging, 60–61

divestitures, 10–12

dividend policies, 12–13

Doerr, John, 79–80

Donahoe, John, 116–118

Donovan, John, 86

dot-com bubble, 17

Dow Chemical, 41–49

downturns

being a good boss in, 65–80

bouncing back from, 29–40

current, distinctive characteristics of, 2

leadership in, 51–63

lenses for viewing, 30–31, 34

as opportunities, 29

reinventing your business and, 119–133

seizing advantage in, 1–16

surviving and thriving after, 17–27

understanding and appreciation of, 11

due diligence, 15

DuPont, 43, 44

duration, 30–31, 38–39

eBay, 116–118

edge-centric strategy, 124–127

efficiency

increasing, 5, 8–9

technology and, 26

Egon Zehnder International, 57, 60, 61–62

Ellis, Albert, 36

emotional bonding, 140

emotional intelligence, 140

emotional traps, 31–33

emotions

bringing leaders’ to the workplace, 62–63

compassion, 69, 70

empathy, 54

power and, 66–69

empathy, 54

in good bosses, 69, 70, 76–78

with leaders, 73, 138–140

employees. See also layoffs

being a good boss to, 65–80

being on the side of, 78–80

burnout in, 84–85

communicating with, 59, 100, 102

as contractors, 91

as corporate citizens, 140–142

cultural fit of, 130–131

in edge-centric strategy, 126–127

effects of layoffs on remaining, 24–25, 84–85

empathy of for leaders, 73, 138–140

empathy with, 54

gaining commitment of, 11

growth of, 132–133

investing in for the future, 14

nurturing supply of talent and, 120, 123–124

protecting your job in a recession, 135–142

in reinventions, 130–132

in relationships of unequal power, 66–69

showing compassion to, 69, 70, 76–78

surplus talent and, 130–132

technical skills in, 25–26

theft rates by, 76

execution, fostering adaptation and, 54–57

experiments, 56–57, 59–62

expertise, decentralization, decision making, and, 23

exposure, 2–6

reducing, 6–13

fairness, 93–95, 98–99, 102

fallacy of centrality, 67

false consciousness, 139–140

financial factors

compassion and, 76

debt, 2–3

protecting fundamental, 6–8

quantifying impact on, 3

reorganizations and, 98–99, 103

structural, 4, 7–8

financial S curve, 120–124

Fiske, Susan, 68–69

flexibility, performance pay and, 25

flexible assignments, 92

Flight 1549, 74

founder’s mentality, 108

insurgent mission and, 108–111

obsessing over your front line and, 111–114

owner’s mindset and, 114–118

scorecard for, 115

Four Seasons Hotels and Resorts, 131

Four Seasons: The Story of a Business Philosophy (Sharpe), 131

franchises, 116

Freud, Sigmund, 136

Frick, Walter, 17–27

front line, obsessing over your, 111–114

furloughs, 23, 24–25, 91

GE, 131

GEA Group, 11–12

George, Katy, 26–27

Gerstner, Lou, 15

Gilbert, Julie, 54–57

Giroud, Xavier, 20–21

Gittleman, Maury, 25

Go, 78–80

Google, 65, 116

Grashow, Alexander, 51–63

Great Recession, 19

distinctive characteristics of, 2

layoffs in, 23, 83

private equity firms in, 21

Greenberg, Jerald, 76

Grove, Andy, 127, 128

growth, reigniting, 107–118

obsessing over your front line and, 111–114

owner’s mindset and, 114–118

through your insurgent mission, 108–111

Gruenfeld, Deborah H., 66–67

Gulati, Ranjay, 17, 23

Gupta, Raj, 41–49

Gupta, Shalene, 24, 81–96

Haas, John C., 42

Hambrecht, Jürgen, 44

hardiness, 36

Heath, Chip, 74

Heath, Dan, 74

Heidari-Robinson, Stephen, 97–105

Heifetz, Ronald, 51–63

Hellgren, Johnny, 84

Henderson, Rebecca, 20

Henretta, Deborah, 132

Hershbein, Brad, 25, 26

Hewlett-Packard, 71, 78

Heywood, Suzanne, 97–105

High Performance Business research program, 128

high-touch consumer businesses, 112

hiring freezes, 24–25

The Home Depot, 112–114

Honeywell, 23–24, 89, 90, 91

hour reductions, 23, 24

housing prices, 20–21

humility, 138

IBM, 15

identity, distinguishing core, 55–56

Illinois Tool Works, 132

Immelt, Jeff, 131

impact, 30–31, 36–37

implementation, 11

inaction, 1

initiatives

comprehensive planning around, 11

prioritizing, 15–16

reigniting growth with, 110–111

innovation, 59–62, 85

inspiration, 139, 140

insurgent missions, 108–111

Intel, 127–128

intellectual property, 123

investments, 5

for the future, 13–14

insurgent mission and, 109–111

reining in, 10

iPod, 14

iTunes, 14

Iverson, Roderick, 72–73

Jobs, Steve, 112

job satisfaction, 84

Kahn, Lisa B., 25, 26

Kahn, Robert, 69

Kassar, Ray, 77

Keltner, Dacher, 66–67, 69

Keynes, John Maynard, 17

Khan, Sajid, 85

Khoshaba, Deborah, 36

Komisar, Randy, 79

Kovac, Mark, 20–21

Kraatz, Matthew S., 85

Kramarz, Francis, 24

Kuwait Petroleum, 43, 48

Lafley, A.G., 74–75, 132

layoffs, 81–96

alternatives to, 23–25, 85–95

being a good boss and, 65–66

communicating about, 59, 76–78

compassion and, 77–78

economic conditions variations and, 89–95

employee responses to, 71–73

fairness in, 93–95

ineffectiveness of, 83–85

laws against, 82

methodology for, 88–89

plans for handling, 141

protecting your job and, 135–142

providing predictability and, 71–73

reorganizations compared with, 97

statistics on, 83

workforce change philosophy and, 86–88

leaders and leadership, 51–63

adaptive phase of, 52, 53

attention of followers to, 68–69

being a good boss in a bad economy, 65–80

crisis, 51–63

distributed, 60, 61–62

effects of power and, 66–69

embracing disequilibrium and, 57–59

emergency phase of, 52

empathy in, 54

empathy with, 73, 138–139, 139–140

in fostering adaptation, 54–57

generating, 59–62

getting to the front line, 115

lack of preparation and commitment in, 11

organizing to avoid overload, 129–130

protecting your job in a recession, 135–142

in providing predictability, 69, 70–73

in reinventions, 127–130

relying on what’s worked in the past and, 52–54

renewal of, early, 127–128

self-care of, 62–63

signs of great bosses, 78–80

on strengths and weaknesses, 100

tasks of today’s, 54–62

lean staffing, 90

learned helplessness, 36

legacy practices, loyalty to, 55

lenses. See adversity

Lerner, Josh, 21

leverage, 7, 20–22, 60–61

Levi Strauss, 71

Levy, Paul, 57–59

Lexus, 122

Lincoln Electric, 90, 92

Linsky, Marty, 51–63

liquidity, 1–2, 3, 7–8

Liveris, Andrew, 41–42, 44, 45, 47

Lloyd, Geoff, 110–111

Lobo, Miguel Sousa, 136

Love, E. Geoffrey, 85

loyalty

good bosses and, 78

to legacy practices, 55

Lucking, Brian, 22

Macromedia, 129

Maddi, Salvatore, 35, 36

Made to Stick (Heath and Heath), 74

Makridis, Christos, 25

management

building resilience in, 29–31

emotional traps in adversity and, 31–33, 36–37

investing in for the future, 14

layoffs and performance discussions by, 90

lenses for viewing adversity and, 29–31, 34

reinventions and, 124–130

self-doubt in, 32–33

by walking about, 113–114

Marcus, Bernard, 112–114

Margolis, Joshua D., 29–40

market valuation, 4

maximizing relative to rivals, 12–13

Rohm and Haas deal and, 45–49

Marx, Karl, 139–140

McKinsey, 21–22, 83, 97, 102–103, 104

McKinstry, Nancy, 104

mergers and acquisitions, 116

pursuing opportunistic and transformative, 14–15

Rohm and Haas, 41–49

metrics, 88, 89, 113

Mezzanotti, Filippo, 21

MG Technologies, 11–12

Michelin, 86–87, 88–89, 92–93

Microsoft, 94–95

Milo, 117

mindsets, 38–39

founder’s, 108

of survivors, 136–137

Miracle on the Hudson, 74

mission, rediscovering your insurgent, 108–111

mobile commerce, 117–118

Modestino, Alicia Sasser, 25–26

Mondavi, Robert, 112

Moody’s, 47–48

Moore, Gordon, 127

“Mourning and Melancholia” (Freud), 136

Mueller, Holger, 20–21

Musk, Elon, 77–78, 102

Mysore, Mihir, 21–22

Narayen, Shantanu, 129

Nardelli, Robert, 112–114

Näswall, Katharina, 84

National Compensation Survey, 25

Naumann, Earl, 85

NetApp, 65

Netflix, 122

Nevoux, Sandra, 24

Nohria, Nitin, 17

Nokia, 81–82, 87, 93–95

Novo Nordisk, 125–126

Noyce, Robert, 127

Nunes, Paul, 119–133

Ollila, Jorma, 93–95

Olson, Matthew S., 119

operational improvements, 23–25

opportunity costs, 26

optimism, 62

organizational culture, 130–131

organizational structure, 22–23, 132

distributing leadership and, 60

function and, 101

reorganizations and options for, 100–102

Otellini, Paul, 127, 128

Ouellette, Suzanne, 35, 36

ownership, 61

participation, enthusiastic, 140–142

PayPal, 118

Pepper, John E., Jr., 68

performance

digital technology and, 26–27

effects of downturn decisions on, 91

reorganizations and, 97

performance pay, 23, 25

Perpetual, 110–111

personal responsibility, 114–115

Peterson, Christopher, 36

Pfeffer, Jeffrey, 69

political actions, 58–59

P&O Princess Cruises, 14

power

negative effects of, 66–69

showing empathy for people with, 73, 138–140

practice, in building resilience, 40

predictability, creating, 69, 70–73

pricing strategies, 5, 9–10

private equity, 21, 114–115

problem solving, 60

Procter & Gamble, 68, 74–75, 122

product development, 13–14

productivity

effects of layoffs on, 24–25, 72–73, 84–85

effects of leadership on, 68

embracing disequilibrium and, 57–59

reorganizations and, 97

product mix, 5, 9–10

profitability

compassion and, 76

internal dysfunction and, 108

layoffs and, 84

reorganizations and, 98–99

profit and loss statements, 98–99, 103

quality, 84–85

Quinlan, Michael, 84–85

R&D (research and development) spending, 13–14

realism, 62

recessions

cutting labor costs in, 23–25

decision making in, 22–23

definition of, 17

deleveraging before, 20–22

preparation for, 20–21

protecting your job in, 135–142

surviving and thriving after, 17–27

Reckitt Benckiser, 126, 131

recovery, 29–40

crisis management teams in, 16

effects of decisions made in downturns on, 91

investing for the future and, 13–14, 25–27

obsessing over your front line and, 111–114

owner’s mindset and, 114–118

preparation and, 20–21

reigniting growth in, 107–118

reinventing your business and, 119–133

research on, 17, 21

resilience and, 29–30

through an insurgent mission, 108–111

Recruit Holdings, 91

reflection, 39–40

reflexive thinking/responses, 31, 34

reinventing your business, 119–133

change at the top and, 127–130

edge-centric strategy in, 124–127

hidden capabilities curve and, 122–123

hidden competition curve and, 120–122

research on, 128

talent supply and, 120, 123–124

Reivich, Karen, 36

reorganizations, 97–105

communicating about, 100, 102

considering multiple options in, 100–102

corrections in, 104–105

current weaknesses/strengths and, 99–100

getting the sequence right in, 102–103

pitfalls in, 104

profit and loss statements for, 98–99

reputation, 85

resilience, 29–30

breadth lens and, 37–38

capacity for, 33–39

coaching, 34

control lens in, 30–31, 35–36

duration lens and, 38–39

impact lens and, 36–37

internalizing the questions and, 39–40

lenses for, 34

practicing, 40

regimen for building, 31, 36

research on, 36

survivors and, 136–137

response-oriented thinking, 38–39

responses

aggressive, benefits of, 1

reinventing your company, 119–133

results-based pricing, 10

résumés, updating, 141

Rhodes, David, 1–16

“Roaring Out of Recession” (Gulati, Nohria, and Wohlgezogen), 17

Rohm and Haas, 41–49

Royal Caribbean, 14

Sadun, Raffaella, 22–23

safety, 84–85

sanctuaries, 62

Sanofi-Synthélabo, 13

scenarios, 2–6

in preparing for recessions, 21

for workforce change strategy, 89–95

Schlumberger, 124

Schultz, Howard, 108–109

self-awareness, 141

self-care, 62–63

self-centeredness, 66–68

self-doubt, 32–33

self-funding transformation projects, 26–27

Seligman, Martin, 36, 70

Senard, Jean-Dominique, 88–89

SG&A (selling, general, and administrative) expenses, 8–9

Sharp, Isadore, 131

Shatté, Andrew, 36

Shoag, Daniel, 25–26

signal/safety hypothesis, 70

Silver Lake, 115–116

Skype, 116

“Small Wins” (Weick), 75

SPaM, 78

specifying questions, 33, 35, 36, 37, 39

stability, 2, 60

stall-outs, 107–118

reinventing your business and, 119–133

symptoms of, 107

Stall Points (Olson and van Bever), 119

Standard & Poor’s, 47–48

Starbucks, 108–109

Starner, Tom, 91

Stelter, Daniel, 1–16

stock prices, 84

Stoltz, Paul G., 29–40

strategic planning

building adaptability and, 56–57

for dealing with job loss, 141

edge-centric, 124–127

high performers in, 126–127

protecting your job with, 135–142

reigniting growth and, 108, 109

reinvention and, 124–127

workforce change strategy, 86–95

stress

communication and understanding, 74–75

embracing disequilibrium and, 57–59

emotional responses of leaders to, 69

perception of control and responses to, 35–36

providing predictability and, 69, 70–73

reorganizations and, 97

self-care and, 62–63

sense of control and, 75–76

writing and, 39–40

Strully, Kate, 85

subscription pricing, 10

succession planning, 127–128

Sucher, Sandra J., 24, 81–96

supply chains, cost reduction and, 9

survivors, acting like, 136–138

Sutton, Robert I., 65–80

Sverke, Magnus, 84

talent curve, 120, 123–124, 130–132

Tata, Ratan, 129

Tata Group, 129

technology

digital, 26–27

investing for the future with, 13–14, 25–27

reinventing companies and, 123

Tesla Motors, 77–78

Tetlock, Philip, 73

theft rates, 76

Thomas, Bob, 131

TJX Companies, 12–13

top line, managing the, 5, 9

Toyota, 122

training

costs of, 84

crucible experiences in, 131

as layoff alternative, 85–86, 94

talent supply and, 123–124

Transformation 2015, 111

transparency, 26, 98–99, 102

Trevor, Charlie, 84

turnover rates, 84

unbundling, 10

uncertainty

decentralization and, 22–23

embracing disequilibrium and, 57–59

empathizing with leaders during, 73, 138–140

relying on what’s worked in the past and, 33, 52–54

Rohm and Haas deal and, 41–49

workforce strategy and, 92–95

understanding, 69, 70, 73–75

of current weaknesses and strengths, 99–100

unemployment, 20–21. See also layoffs

costs of, 85

taking advantage of, 25–26

UPS, 132

urgency, 53

values, in workforce change philosophy, 86–88

van Bever, Derek, 119

Van Reenen, John, 22

victimization, 32–33, 36–37

visualizing questions, 33, 35, 37, 39

volatility, layoff alternatives and, 90–92

vulnerabilities, assessing, 2–6

rivals’, 4–6

Wal-Mart, 122

Weick, Karl, 75

Weiner, Bernard, 35

Welch, Jack, 131

Williams, Paul, 85

Wohlgezogen, Franz, 17

WoLF (Women’s Leadership Forum) packs, 56–57

Wolters Kluwer, 104

workforce change strategy, 86–95

for different economic conditions, 89–95

method in, 88–89

philosophy behind, 86–88

World Management Survey, 22

Yoffie, David, 127

Zatzick, Christopher, 72–73

Zehnder, Egon, 60, 61

Zook, Chris, 107–118