So the first thing I should start with is just by pointing out that crises are happening all of the time It's very easy and common for people to think that crises are these unusual, rare events that they don't need to worry about so much.But when you start paying attention to crises , as I do sitting here at Stanford teaching and researching on the topic, you start to realize they're
done in a common good way. Crises . So economic crises as bad as the Great Crash in 1929 or almost as bad almost regularly up
I think, God forbid, we could. Crises ," which some of you probably have looked at, makes up this argument that while mostly we think about international relations
also we have a climate crisis we have an energy crisis we have a security crisis we have a terrorism crisis all those crises would be a terrible thing to waste U uh it gives us the opportunityto actually affect a change so let me talk about very quickly
in history when the price rose so rapidly was during the two 1970s oil crises periods of intentional price manipulation when when OPEC was intentionally manipulating the price ofoil for it for a political goal and I argue that the price has been being
And we're going to talk about that in more detail in a minute. Crises patterns we call "Split-second hardening of the emotions.” So, who here remembers where they were on September 11th, 2001?As I'm saying that, can you get a memory of what it felt like?
think you've got to go back major world war two in the Great Depression to have this kind of series of cash da ting crises all condenses into such a short period as we're facing right now we'vegot two wars going on we've got an deficit controlled of course we have the financial meltdown last couple weeks
We're living in an era of wicked problems. The crises are so massive that we cannot grasp them. We can feel a paper cut, but we cannot feel a collapsing planet.
they should have had a crisis. But crises can also happen when you really haven't done anything wrong, when no one got hurt, no one gets killed But nonetheless, a crisis can still happen to you. And that was the case in my favorite crisis of 2023, and that was the crisis faced by Bud Light and the boycott
Right. It just drives home the point of how frequently these crises are happening, how important they are, and how- Fundamental it is for managers to take responsibility for these crises and prepare themselves and their organization to manage it. As we just saw in those examples, these crises can come in many forms.
Are you getting your message up to your CEO, to the board, and your boss? These crises are big, they're happening all of the time, and they're significant for organizations.
Are you getting your message up to your CEO, to the board, and your boss? these crises , they're left flailing because they don't know what to do
No, it really dates to the 1970s. That's when uh the United States will have two energy crises in 1973 and 1979, and the price of gas becomes a huge political issue for Americans. It affects presidents, it affects Congress, and it becomes a manifestation in that
In addition to what I mentioned, we are thinking about new problems, solving new assignments and creating new opportunities. These crises could be so painful that one may start to break. So one needs to develop a lot of patience. The longer the crisis continues, the scarier it becomes, hence try to develop more patience.
Nigeria, massive population growth, as with Kenya. Financial crises , impact on the poor and poor countries much more than the impact on the rich.
So, I don't know if it's--you could argue that that's a problem because if you don't have them frequently, people don't learn how to deal with them and you end with really big crises like this or the great depression, where if you just let it happen every 10 years, you'd less of a problem. So, I don't--I mean, I'm fascinated with those discussions, those arguments, it's something in the end I decided I would have to add another 200 pages to my book but I didn't have time for so I didn't, but maybe some other time.
in this webinar to start with some examples of crises , to not only show you how often they're happening, but to show you the variety of crises that are occurring and the difficulty you have in predicting exactly what it's gonna be. In fact, on the point that they happen all the time, I, sitting here researching and teaching about crisis, I keep a list of my favorite crisis of the month and my
Because often in a crisis, the most effective strategy, and sometimes the only strategy, is to fire the CEO and start again. So these crises can not only affect your company, they can affect you too personally and your career. So this crisis was very costly for Astronomer.
structure of the industry And that's how we think about crises in the LEAD course. We focus on crises as a unit to understand what a crisis is, how they evolve, and what strategies are available, and then we put it within the broader strategic context for you to understand, how do I think of crises as part of my broader corporate strategy?
Are you getting your message up to your CEO, to the board, and your boss? And even for bigger crises that happen at a corporate level, a company-wide level, they often originate by decisions made within subunits.
We really were just looking at ways to introduce some of the core concepts and get us thinking very differently about questions of how we respond to the current environmental crises . And what I found, and certainly what we know from the panelists, is that each one is doing really novel and innovative work in their spaces. So Waleed Johns was a senior official at the Department of Energy in the Biden administration.
Professor Benton says there are enough very recent historical examples that very recent historical examples that show how environmental crises in any one show how environmental crises in any one place in the world can trigger major place in the world can trigger major economic and political discord almost economic and political discord almost everywhere else. Well, if you look back
This is what our house looked like when we moved in. the two major crises that Earth is facing today.
at this confluence of crises .
Those are times-- crises are times when short-term thinking actually is important because what you need is to be nimble.
done in a common good way. We also had crises .
As these crises of inequality kind of break down and become clear, people are waking up to how this connects to history
The people that anticipated crises where anthropologists, ecologists, historians, archeologists.
So we see the crises , and the wars, and the famine.
happens during economic crises .
And it's creating crises .
It's managing crises when you own your own business, especially a restaurant.
political violent political crises uh related to The Shining path movement the
are impacted by these crises and just need to have normal lives with access to education and other opportunities.
So the accumulation of crises is definitely something that we feel very strongly, and we experience very strongly, both in scale
The financial and environmental crises are connected both in causes and solutions.
It's not a crises management tool.
A series of crises that might leave us like Mars.
years when those crises that I've mentioned happened, the South had always made it clear,
national security crises what we've seen in a under a variety of administration's
The big crises that he faced that were more macro were in the Fall of 2007 and the Fall
towards the crises or the difficulties he's been facing for the last few months around
crises are these unusual, rare events that they don't need to worry about so much.But when you start paying attention to crises , as I do sitting here at Stanford teaching and researching on the topic, you start to realize they're happening every year, every month, every week, every day.
no lying, no misrepresentation, but nonetheless brought upon themselves this giant crisis from these conservative groups. So they're my three favorite crises of recent years. There's also some just classic crises that have happened around the world.
So they're my three favorite crises of recent years. There's also some just classic crises that have happened around the world. The biggest one in the United States since I've been doing this was the one that happened, down in the Gulf Coast with BP and the explosion
they're happening in every country all around the world. And one of the most remarkable crises that's happened in my time since I've been researching and studying this topic, was one that happened in China with Sanlu They were the producer of, amongst other products, baby formula.
Are you getting your message up to your CEO, to the board, and your boss? A final point about these crises is the level and the range that they can, they can manifest.
aware about certain issues or crises .
I think we have four crises , rather than one crisis that we have to tackle.
Many people are facing financial crises that were completely unexpected.