By John M. Collard
Who can handle the crisis management role? This is a predicament. Clear thinking must prevail and a special set of skills must be applied.
If there is a qualified leader within the company, then delegate the job of turnaround to that person - and provide proper support. If there is not a qualified leader in the company, and there usually isn't, don't hesitate to go outside to locate a professional at this type of work.
But what guides the decision?
Let's put this leadership role into proper perspective. Leadership requirements differ between those for healthy, growing companies and for those in a troubled situation. The CEO that managed the company while it got into trouble probably doesn't have the skills to doctor it back to health. Compare the differences in our chart.