Knowledge Network: Research and Opinions

Business managers and others dealing with stress during the economic downturn need to stop and take a deep breath. “You can have a sense of paralysis because the anxiety is so high,” Thunderbird Professor Christine Pearson, Ph.D., said during a roundtable discussion Feb. 5 that included input from two other Thunderbird professors and several students.

Pearson, a crisis management expert who has consulted Fortune 50 companies during times of scandal and disaster, defines a crisis as a low-probability, high-impact event that has the potential to bring down an organization. Based on that definition, she said, many companies around the world should be in crisis management mode now as revenue plummets and unemployment rates rise.

She said harried executives and others she has consulted tend to function better during times of crisis when they take a few simple precautions. These include the following:

1. Maintain healthy sleep levels.
2. Increase exercise levels.
3. Get more fresh air.
4. Cut back on caffeine.
5. Cut back on alcohol.
6. Take relaxation breaks, which can be as short as 10 or 20 seconds.
7. Turn off the television.
8. Limit your exposure to the news media.
9. Let other people into your life. Talk about your stress.
10. Limit your multitasking. Try to do one thing at a time.

The roundtable discussion, called “Maintaining Your Wits in a World Turned Upside Down,” also included insights from professors Roe Goddard, Ph.D., and Karen Walch, Ph.D. Check back at the Thunderbird Knowledge Network in the coming days for more detailed reports, podcasts and videos.

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Posted: 02|5|09 at 3:26 pm.
Filed under: Business Education, Global Strategy, Goddard, Roe, Navigating the Crisis, Pearson, Christine, Walch, Karen.
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