Investing in Growth Through Uncertainty.

When faced with disruptions and downturns, many leaders and companies instinctively focus on cutting costs to maintain profitability. But some identify opportunities and then take thoughtful action to emerge from crisis even stronger. That means not only planning for worst-case scenarios and pressure-testing operational and financial health but also staying alert for ways to find a winning edge and making needed investments. Those leaders do so by fostering three mindsets: sensemaking in crisis, a bootstrap ethic, and stakeholder balance. Examples from Alaska Airlines, Firefly, Panera Bread, and Edward Jones show how this works in practice. Leaders who embrace these ways of thinking can chart a course for the future even when the outlook is darkest. INSET: The Challenges of Playing Offense and Defense at Once. [ABSTRACT FROM AUTHOR]