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The Crisis Management Strategies That CEOs Now Use Every Day

Business leaders are saying goodbye to planning and hello to scenarios, as they move into year three of the pandemic.
relates to The Crisis Management Strategies That CEOs Now Use Every Day
Illustration: Katya Dorokhina for Bloomberg Businessweek

Imagine that you’re at an elevation of 28,000 feet (8,534 meters) on Mount Everest, trudging the final thousand feet to the top, and something goes horribly wrong: a whiteout disorients you, some crucial equipment fails, or a friend collapses. Nearby climbers leap into action, with only seconds to respond in the low-oxygen environment.

The lesson for leaders? Preparation for that scenario would have occurred weeks earlier, down in oxygen-rich air, when the head of the expedition would have guided climbers through possible situations and trained them accordingly.