Engineering Leadership and Management during Financial Crisis

Abstract

The financial crisis that unfolded in 2008 presents engineering leaders and managers with many challenges. Survival of businesses is threatened. Yet the lessons of this crisis also present us with opportunities to create more agile, lean, responsive, and resilient organizations capable of weathering other troubles more effectively. In this article we briefly examine causes and immediate short-term actions that can mitigate some financial stress. We then lay out a leadership and management strategy based on accessing the strengths of a learning organization culture. The strategy is based on a foundation of decision making and organizational direction guided by adherence to the core values of the organization.