Masters of Scale The 4 core principles of crisis management, w/Ellen Kullman (DuPont, Carbon)
Jan 25, 2022
In this engaging discussion, Ellen Kullman, the former CEO of DuPont and Carbon, shares her insightful crisis management principles, honed through navigating corporate challenges like the 2008 financial crisis and the onset of COVID-19. She emphasizes that companies should leverage their core identities during crises, focusing on strategic vision and clear communication. Amy Shira Teitel adds context from the Apollo 13 mission, highlighting the astronauts' calm under pressure, reinforcing how adaptability and creative problem-solving are vital for resilience in tumultuous times.
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Focus on Control
- Focus on what you can control during a crisis.
- Identify actionable steps to improve your situation and get your team focused on those.
Create Your Trajectory
- Don't assume things will return to normal after a crisis.
- Create your own path by defining specific goals and a vision for the future.
DuPont's Restructuring
- At DuPont, Ellen Kullman challenged leaders to reduce their teams by 50% during the financial crisis.
- This bold move, while not fully implemented, led to a 12% reduction and a streamlined organizational structure.