A year ago none of us knew what "sub-prime" or "credit crunch" meant, but we do now - from plummeting stock markets to the nationalisation of banks, we have proof that globalisation really has taken hold across the world's economy.
In the old days, a shopkeeper or businessman had to focus on his village, town or street, but now the opportunities and challenges are no longer local but global. No problems are "foreign" any more.
Everyone is feeling the pressure; these are unprecedented market conditions.
Management has always relied on experience, gleaning lessons from the past and using that best practise in a fresh setting. We assessed risks and problem-solved based on what happened in previous instances.
But there is no precedent for the current situation.
Leadership is needed like never before; secure, confident leaders who have a compelling vision, which reassures and retains key talent, while building organisational morale at all levels.
Normally when an industry or regime is under attack, a spokesperson emerges who smoothes the troubled waters and inspires confidence.
Where will that leadership be found? Where is the strategic direction, rather than the short-term coping mechanism? Where are the Dreamers? Where can we source the inspiration to innovate fresh solutions in a contracting market?
"Yes, we Can!" It was the call of Barack Obama. The call of millions desperate to lose the stigma of "entitlement" and embrace true empowerment.
Confidence will only return when inspired leadership emerges across every business sector and takes charge of the situation. No matter how big or small the organisation, it's time to lead a revolution NOW.
The big question that remains is: Are you ready?
Join us at the Inspired Leaders Network as we explode the myths about the credit crunch and the global economy and explore the role of leadership in these unprecedented, turbulent times.
We have two Inspired Leaders who will be joining us:
Dr. Michael Jordaan is CEO of First National Bank. As the youngest Banking CEO South Africa has ever seen, this Inspired Leader has transformed the way banking can be done, thereby setting a new standard for leadership in the financial industry during these difficult times. Michael was selected as a World Economic Forum (WEF) Global Leader. He maintains a cool determination while facing the National and International repercussions brought on by the recent economic meltdown.
Our second speaker has been part of the historic rise of the Johannesburg Stock Exchange and is now seeing a very different market to just a few years ago. She is well positioned to share her insights into the stresses that the financial market faces. Nicky Newton-King was one of the main architects of the revolutionary arrangement signed between the JSE and the London Stock Exchange (LSE). The logistics that allow for the JSE and LSE to be connected went live in May 2002. Her strong leadership has brought alignment and definition to our world-class Stock Exchange.
Date: 24 February 2009
Venue: Gemini Consulting, 3 Commerce Square, Rivonia Road, Sandton