[PDF][PDF] Crisis leadership and why it matters

EH James, LP Wooten - The European Financial Review, 2011 - chicagovma.org
EH James, LP Wooten
The European Financial Review, 2011chicagovma.org
Management's annual report on business crises, there were nearly 90,000 news accounts of
business crises in the United States alone between 2000 and 2009 (ICM, 2010). In 2010, we
witnessed the BP/Deepwater Horizon oil rig explosion and subsequent oil spill in the gulf
coast region of the United States. By the time this article makes it to print, there will likely be
other noteworthy crises of which to speak. The decade began with financial scandals
(remember Enron, Worldcom, and Tyco) and ended with the near collapse of the entire …
Management’s annual report on business crises, there were nearly 90,000 news accounts of business crises in the United States alone between 2000 and 2009 (ICM, 2010). In 2010, we witnessed the BP/Deepwater Horizon oil rig explosion and subsequent oil spill in the gulf coast region of the United States. By the time this article makes it to print, there will likely be other noteworthy crises of which to speak. The decade began with financial scandals (remember Enron, Worldcom, and Tyco) and ended with the near collapse of the entire financial system. Wall Street giants Lehman Brothers and Merrill Lynch were casualties, while other prominent banks and government agencies, including Washington Mutual, Freddie Mac and Fannie Mae escaped only with government intervention. In the midst of the financial calamities, communities have been devastated by natural disasters, extreme acts of violence and terrorism, and the life
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