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How well do you act as a steward with “act” meaning that you feel ownership, are proactive, and take swift action?
As a leader in my organization:
Scenario: You are the CEO of a $50M business. You’ve enjoyed a long period of prosperity, but unexpectedly the economy has taken a downward turn and so has your core market. You are now forecasting a contraction in your business of 10-25% in the coming year as opposed to the 5-10% growth you’ve been enjoying for the last few years. You have 100 employees including 7 managers.
You have called a meeting with your 7 managers to ask them to make a sacrifice. You are going to ask them to give up their bonuses and take a 10% pay cut for this year. You are also going to lay off 10 employees and therefore going to ask each manager to work extra hours each week to offset the work normally done by those being let go. Outline the conversation you plan to have with your managers with particular emphasis on your plan to gain their buy-in for making this sacrifice for the coming year.
This response will be awarded full points automatically, but it can be reviewed and adjusted after submission.