Summary of 4 Core Principles of Crisis Management

4 Core Principles of Crisis Management summary

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Companies will always face crises. But since executives have no way of knowing the specifics of what to prepare for, building organizational resilience is a crucial leadership task. Ellen Kullman successfully shepherded two companies through global crises: the global financial crisis as CEO of DuPont and the COVID-19 pandemic as CEO of Carbon. In this episode of the Masters of Scale podcast with host Reid Hoffman, Kullman shares principles of crisis management that leaders at any company can use to future-proof their businesses.

About the Podcast

LinkedIn co-founder Reid Hoffman hosts the podcast Masters of Scale. Ellen Kullman is the CEO of the 3D-printing unicorn Carbon and a former CEO of DuPont.

Summary

Companies must prepare for the unexpected before a crisis hits.

Companies must stay ready to face unexpected crises. They should prepare in a way that helps them cope with a crisis and, ideally, emerge even stronger. Creating a crisis playbook may help your firm deal with specific emergencies, such as a fire or earthquake. However, drawing up specific guidelines of what to do when an economic crisis or a pandemic threatens your industry’s existence may prove nearly impossible.

Ellen Kullman learned firsthand how to lead through unexpected crises. She successfully navigated the global financial crisis as the CEO of DuPont in 2008 and doubled down as the CEO of the 3D-printing start-up Carbon during the coronavirus pandemic. Her main take-away: During normal times, companies must develop and cultivate the strengths that will help them navigate crises. Every day, leaders must practice the four principles that they can turn to when they must...


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