A "Must Watch" slide and you will learn how to not only control your crisis but change into your Advantage. Currently everyone is suffering from Financial Meltdown and I have given some tips to deal with situation.

1. www.CareersAndCareers.com
Turn Crisis into
Advantage by effective
Crisis Management

2. When a company is in dire straits, they call in the quot;Spin
Doctorsquot; “Risk or Crisis Management Consultants” to
conduct damage control. Therefore, companies need to
ensure that they have appointed the best practitioners to
handle the situation.
There is no industry or area of life, which is not
susceptible to crisis. All industries have their areas of
crisis, and while categorisation of crisis is difficult, they
can include acquisitions and expansion, hazardous
materials, health care, law, litigation, mergers, product
contamination, and so on.

3. No matter how proactive the strategic input from the
corporate communications consultancy is, there are
the inevitable and unforeseen incidents that cannot be
forecast.
For example, the mining sector has taken enormous
strides to improve occupational, health and safety
standards, thereby reducing the numbers of risk
fatalities and injuries. However, one still reads
headlines of mining disasters. Careful planning by
examining and assessing the potential weaknesses
within an organisation's industry can well lessen future

4. crisis. However, humans are not infallible, and there are
events in life that are beyond control.
Risk and reputation management is another growth
industry with many sectors procuring the services of risk
management assessors for their business. While it is a
common business practice in the USA, more professional
communications consultants in South Africa are working
alongside risk management teams to focus on the key areas
of potential concern and to prepare tools in the event of a
disaster.

5. Shyamala Gopinath, Deputy Governor - Reserve Bank
of India said, “The way to manage downturn and
sustain growth in the banking and financial sector is to
take advantage of the present crisis and move forward
by making IT spending cost effective and revenue
generating”. She observed that in the past
considerable focus of IT spending was on customer
services and products which did not extend to internal
audit, back office and internal operations of the banks.
There was also a marked reluctance to spend on these
areas as they were not considered profit centres. She
thus emphasized the need for greater IT spending by

6. the banks on internal governance and control. Gopinath
further elaborated on the various initiatives taken by the
RBI in converting Indian banking from brick and mortar
banking to virtual banking.
“There is marked improvement in various processes like
fund transfers and settlement including RTGS, NFS, ATM’s
and others. Paper transactions still continue to be in high
numbers, which also carry high risk. RBI is thus
considering to shift high value clearing to electronic
mode”, stated Smt Gopinath. She expressed concerns of
fraud; software and hardware glitches and money

7. laundering resulting into tremendous loss. Smt Gopinath
concluded by saying that response required from the IT
providers would be in terms of affordability, availability,
reliability, adaptability, convenience and operational
comfort.
“IT related concerns include inadequate governance,
inadequate alignment with business requirements, system
failures, inadequate segregation of duties, unauthorized
access, malicious activities like hacking, cost overruns and
data integrity issues among others”, pointed
Gopalakrishna.

8. Echoing Gopinath’s thoughts, Dr K C Chakrabarty, Chairman
and Managing Director, Punjab National Bank, in his
address said that this was the time for the Indian banking
and financial services industry to turn crisis into an
opportunity and emphasized on the need to focus on
inclusive growth by generating domestic demand.
“It is necessary to make banking and financial products and
services accessible to billions of Indian people by improving
penetration. Taking products and services to masses will
provide the necessary stimulus to the industry”, said Dr
Chakrabarty. Explaining the role of IT, he pointed that

9. information technology and infrastructure technology
are the two vital pillars which can be utilized to
effectively increase access to the masses. “Though
these are tough times, we must expand but cautiously.
Two things to be avoided in managing downturn are
complacency and inaction”, highlighted Dr Chakrabarty.
Key challenges that the banking and financial industry
are facing today are in terms of industrial growth rates
dropping, investor and consumer confidence levels
decreasing, credit becoming costlier and others.
Technology can be leveraged to address these

10. challenges and the role of technology in providing effective
solutions to banks in managing downturn.
Banks can have a new role to play and technology will have
to be part of the solution. There is the need to review of
projects undertaken during boom times. I like to direct you
to the importance of assessing the viability and profitability
of such projects and only continue those which would be
essential and profitable. I would also emphasize on the
need of simple banking and financial products. You don’t
need ultimate sophistication in times of downturn, but
simple products to reach the masses. I recommend relying

11. What is it that you want?
on information, focus on data quality and application
driven planning and budgeting for better cost
management. I think the industry should invest in
technology to bring the economy out of the downturn.
What is it that you want?
The way success relates to “freedom” lies in the ability
to devote your life to causes that you deem as more
soul serving than working to make ends meet. Whether
you are after just a little more each month or getting to
a position where you no longer have money worries,

12. Why is a financial crisis your
best opportunity?
each business can generate what they are looking for with
some focused attention on a few key factors. Financial
meltdowns can serve a huge opportunity for you and your
business with some work and a fresh perspective.
Why is a financial crisis your best opportunity?
The problem with being constantly cash strapped is that
over time it can seriously affect how you perceive
opportunity in the world. I’m going out on a limb to say
that since there is no shortage of opportunity, a limited
perspective is one of the major reasons why it is so hard for
small businesses to recreate their bank balance. A limited

13. perspective makes it very hard to overcome obstacles and
hardship. The good news is that a financial crisis turns your
life upside down. Crisis has always motivated people to
make great changes in their lives and your financial crisis can
be the same gift of change, if you choose.

14. I would recommend the following steps to “Turn your
Crisis into Advantage”:
1. Keep things in perspective
1. Keep things in perspective
Things are rarely so bad – or so good for that matter – as
they appear initially. I’m not talking about tragedy and
death, but rather the day-to-day mundane events that
seem to create setbacks for mere mortals but that great
leaders thrive on. If you are facing adversity it is probably
because you are pushing yourself and your organization to
achieve greater goals. This is a good thing.

15. 2. Look at the big picture
2. Look at the big picture
When we discuss an organisation, military is always a perfect
example. The military has institutionalized this idea by giving
every commander at every level a second-in-command. This
way, the commander can focus on leading the troops and
keeping his eye on the enemy and the evolving situation,
while the deputy takes care of administrative manners and
the “rear area”. How many civilian organizations do this? I
don’t think many, and they would surely be more effective
and, yes, even more efficient if they did so. An added benefit
is that the deputy can replace the boss in some
circumstances, thereby giving a chance for much needed rest
and recuperation during difficult times. When we build

16. 3. Stay Calm and don’t
Over-React
organisations we need to build principles to run these by
it, not personalities who can run organisations. As in the
lack of this certain personality the organisation might fall
but with principles, others can run the organisation as per
written ethics. Learn to coordinate!
3. Stay Calm and don’t Over-React
The workers get nervous when their managers start
running like headless chickens. My advice to all who are
leaders is that should project calm and resolve no matter
what the situation, lest they unnerve those they are
leading.

17. 4. When in Doubt, Follow
Your Instinct
4. When in Doubt, Follow your Instinct
My observation of many of senior managers and other
high-level directors in Europe is that they all trust their
instincts and are highly intuitive decision-makers. When
all is said and done, reason can only take you so far in your
decision-making. Information is never perfect in any case,
especially when faced with crisis. Intuition is simply an
inner knowing that comes from years of practice and
reflection on a particular subject. Great leaders usually
have well developed intuition because they have so much
experience and are used to considering the emotional

18. 5. Communicate and lead
with emotion
aspects of a problem in their decision-making. Even more
important though, is that they listen to the little voice that
tells them that something is wrong or is good and they act
on it.
5. Communicate and lead with emotion
In May 1940, Britain faced its most trying circumstances of
the Second World War. Winston Churchill gave an address
to the nation. His words, “I have nothing to offer but
blood, sweat, toil and tears.” In a series of stirring
speeches over the weeks and months of that difficult
summer, he appealed to the emotions of Britons and

19. rallied them using the values and beliefs they held dear as a
people. He didn’t sugar-coat the situation and because of
that he was able to create an overarching sense of purpose
and mission to their struggle. Had he simply listed the
balance of forces it might have demoralized the people.
Instead he made them truly believe that Britain was a
beacon of hope and right for the oppressed peoples of
Europe and that they would come to their defence.

20. 6. Reinforce success and
build on strengths
6. Reinforce success and build on strengths
There is a need for revision of all SWAT analysis.
Review your weakness, work out new strategies to
overcome these weaknesses. And find ways to improve
your strengths and successes through cost effective
ways. Peter Drucker is widely credited with the concept
that managers should build on strengths rather than
constantly attempting to correct weaknesses. He
believed and taught this over many decades but many
managers still focus on the negative side of life rather
than the positive side. In economic terms, this is

21. 7. Accept Personal
Responsibility
known as comparative advantage and it is the
fundamental logic underpinning international commerce
and free trade.
7. Accept Personal Responsibility
Regardless of the perceived cause of your crisis, accept
responsibility for it. To quote a popular saying, “you
Can’t change what you don’t accept.” While external
situations may have caused additional hardships, take
back control for the fact that the solution now lays in your
hands. If your financial slop has been brewing over a
longer period of time, begin to ask yourself probing

22. questions about how you view achievement, yourself,
success and other successful people to greater
understand why opportunity may continuously elude.
The main point is that people who are personally
responsible no longer feel scammed, cheated or
defeated because they take advantage of each
situation as a learning opportunity. Become solution
oriented and forget spending time thinking about
things that do not change your circumstance.

23. 8. Don’t Always Depend On
Others
8. Don’t Always Depend On Others
As soon as you decide that you cannot rely on others for
your financial well being, you will no longer accept less
than you deserve. Are you holding out for a little while
forsaking the opportunity to Be and Have more?
Continuous “help” from others is a problem because it
serves as a band-aid that only delays the need to hit “rock
bottom” and become resourceful enough to figure out a
solid plan of action. While assistance can be a lifesaver for
the short term, don’t exchange it for the reward of being
able to choose how you want to live.

24. 9. Accept That There Is No
“Secret” Formula
9. Accept That There Is No “Secret” Formula
There is no “secret” that we can also be privileged
enough to have success too. All of the highly successful
people we have come into contact with have only been
willing to do a few key things that others are not
willing to do. Financial independence comes with a
price though. There is a price to pay for everything. Do
you have the discipline to delay your gratification in
order to make sacrifices with your time and effort until
you reach your goals?

25. 10. Research To Grow Larger
Than The Problems You Face
10. Research To Grow Larger Than The Problems
You Face
Most of us eventually arrive at our destination not because
we’ve intended it to be this way but because we’ve fallen
asleep at the wheel. You can be sure that the one thing that
greatly influences every financial decision in your business is
your own personal mindset about success. Use this crisis as an
opportunity to understand how your thinking differs from
those who are in the financial position you want to be in.
Once you begin to shift your perspective you will be in a much
better position to take steps towards fixing your financial
situation.

26. 11. Invest In Yourself First
12. Learn To Take Calculated Risks
11. Invest In Yourself First
YOU are the best return on your business. When you
consider starting a business, start small. Examine your
financial goals, talents and passions and then take some
steps to invest in yourself and your future.
12. Learn To Take Calculated Risks
The day we finally became sick and tired of our limited
choices was the day we decided to take our first bold steps
towards a new life. We were able to risk what others do
not because we felt we didn’t have much to lose. Despite
popular advice, we chose to risk it all because the life we

27. had would always be waiting for us if we “failed.” Do you
take the risks required to advance towards your dreams?
When you do take a risk and it doesn’t provide the results
you seek, does the cynic take over and you give up?
Mature your “entrepreneur spirit” by taking small
calculated risks that will season your tolerance level for
taking bigger risks in the future . Don’t let any “problems”
along the way become a roadblock for you!

28. 13. Be Selective
13. Be Selective
Too many people take financial advice from people who
are not walking their talk. Is your “adviser” earning a wage
from his advice or is he financially free because of his
advice? Big difference!
If it is financial abundance you are seeking then it pays to
learn a little about what the rich do to get wealthy. How
do they think, how do they work, how do they see assets,
liabilities, time, and opportunity. Their perspective is
much different than what you will find on TV or from the

29. popular “money guru’s” currently dispelling their advice.
Also remember that much of the so called wealth you see
around you is swimming in debt so never feel envy or
competition towards others.

30. In Summary
In Summary
As a manager and a leader, the next time you are faced
with a difficult situation, make a commitment to apply
these principles. Even if you can’t do it well the first
time, persistence will pay off. It will allow you to build
resilience in yourself and your organization, and it will
also contribute to making you a much more inspiring
and effective leader.

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