Crisis Management – Apple’s Chief Got It Right

The volatility in global financial markets the last few days has been gut-wrenching.  One minute the financial future of the world is at risk – and the next, it’s party time (OK – well, not quite!).  The very serious takeaway from all this is there’s no greater time for leaders to step forward and be present than during a crisis.   The crisis of the past few days was an interesting study of crisis management contrasts.

GEOFF COLVIN, Fortune magazine’s senior editor-at-large put it this way in his PowerSheet newsletter this morning:

“The outstanding leader so far is Apple chief Tim Cook, who emailed CNBC’s Jim Cramer just before yesterday’s market open in the U.S. In calm, direct language he told Cramer – and CNBC’s influential viewers worldwide – that ‘we have continued to experience strong growth for our business in China through July and August.’ He supported the statement not with rhetoric but with facts.” Then Colvin added: “That’s how it’s done, folks – the leader of the world’s most valuable company using his unique position to exude fearlessness. He calmed Apple investors – the stock dropped only 2.5% yesterday, much less than the overall market – and likely helped calm markets generally. And by the way, for all the adulation rightly heaped on Apple founder Steve Jobs, he probably would never have done what Cook did.”

On the flip side, Colvin gave the leadership loser award to Chinese President Xi Jinping, Chinese central bank chief Zhou Xiaochuan, and whoever else may be running the economic show for being absent and sending contradictory signals. Is it any wonder – with their market down so far so fast I’d probably try to hide too, I guess.

Geoff Colvin’s PowerSheet is a great source of timely information on leaders, leadership, and the changes driving the global business environment.  It comes to my inbox each day about 11:00 AM ET.  Here’s a link to subscribe if you wish.  Colvin’s commentary is in the inbox of business leaders all over the globe – an indication that his insights remain highly sought after.

Geoff Colvin is the perfect choice to speak for audiences looking to understand the global business environment and what’s driving change there. To learn more check out Geoff’s preview video.