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Business leaders live by the calendar, attaching forecasts, projects and goals to a specific date or...

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General Management

Business leaders live by the calendar, attaching forecasts,projects and goals to a specific date or period of time. No oneknows how the crisis will play out or even when state-issuedmandates to stay at home will lift. For CEOs, it is like stumblingaround in the dark. When Bahram Akradi, founder of the Life Timehealth-club chain, closed more than 150 clubs in 30 states, herecorded a video message to employees. He said Life Time couldweather a two-week shutdown without breaking much of a sweat. Afterthat, he’d have to get creative. It is a classic case ofdecision-making under uncertainty!

  • Q1 - Why does the coronavirus pose such a challenge for topmanagers and decision-makers in corporations?
  • Q2 - What makes this particular crisis different from othertypes of crises?
  • Q3 - Why are CEOs not so well-adapted to this kind ofsituation?
  • Q4 - Why do their habits and training not prepare them for thekind of decision-making needed in the week of the currentcrisis?

Answer & Explanation Solved by verified expert
4.1 Ratings (511 Votes)
Q1 Coronavirus poses such a challenge for the top management and decisionmakers in corporations because it reduced the face to face interaction between people The disease has caused enormous loss to business and economy and has affected the infrastructure of several    See Answer
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