When faced with disruptions and downturns, many leaders and companies instinctively focus on cutting costs to maintain profitability. But some use the period of uncertainty to identify opportunities and take thoughtful action to seize them.
When faced with industry disruptions and downturns, many leaders and companies instinctively focus on cutting costs to maintain profitability. But that is shortsighted.A better approach is to use the period of uncertainty to make smart reductions in certain areas while also investing in new capabilities that will allow you to emerge stronger. Research shows that the organizations that pursue this strategy gain a long-term advantage.
As the industry slowly recovered in 2021 and 2022, Minicucci and his team doubled down, exercising the options on the 52 aircraft and locking in options on an additional 105 to meet its growth needs through 2030. Alaska Airlines also secured its talent pool by completing five labor deals in 2022, including one with its pilots’ union. By early 2023 it was clear that this strategy of playing both offense and defense through the downturn had begun to pay off.
True resilience involves more than recovering from or resisting the effects of adversity. It is the ability to emergePsychologists will tell you that most of us have a natural orientation toward either offense or defense—playing to win or playing not to lose. Our personalities are either bold, striving, and “promotion focused” or conservative, cautious, and “prevention focused.” Still, adversity accompanied by uncertainty typically triggers fear and defensiveness in everyone.
The map served the soldiers not because it provided them with a reliable path to safety but because it emboldened them to take action. Difficult circumstances can feel paralyzing, but we don’t need to wait until we’ve figured everything out to move forward. Indeed, taking that first step into uncertain conditions is how we begin the process of sensemaking—which helps us understand ambiguous or confusing issues and events.
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