Actually, a hurricane rages on the world markets which is not comparable with any other crisis. It is multipolar and infects any country, industry and sector. The majority of today’s executives has not yet experienced such a crisis and is almost helpless and disoriented. Panic and fear emerge resulting in uncontrolled actions. However, instead of losing orientation in panic as a senior executive it is crucial to have a good business sense, to concentrate on the opportunities of the company, to be innovative as well as to exploit the market’s weaknesses implementing new and innovative things. Leaders and not managers are required in this situation, for it is less important to conserve the present (area of knowledge) than to race for the design and development of the future (area of no knowledge). The former Canadian ice hockey star Wayne Gretzky said once when asked regarding his success: “I am not where the puck is but where it will be”.

Often the terms management and leadership are used synonymously. However, there is a fundamental difference between the two and each of them requires different capabilities: resources are managed and people are led ("Ressourcen werden gemanagt, Menschen werden geführt"). Leaders face the challenge both to have to generate cash in the short run and to survive in the long run. In doing so, they are asked to continuously identify new opportunities and to evaluate different options how the company can survive. Thereby, the key capability is less to have the answer (manager) than to live in the question (leader). At the same time, it is necessary to gain new perspectives which are outside the archetype of the company.

To do this, a big portion of courage is required because you have to resist those who would like to carry on like before. Theodor Fontane said: “Success calls for courage”. And at the end, the fortune of the brave is necessary.