Effective leaders become Strategic Misers
In moments of crisis, effective leaders become Strategic Misers... When times are tough and markets are rough, strategic leaders effectively control costs. Unless you do that, you are asking for trouble. Working Capital will be the first business sub-system to be generally impacted when the going gets tough. In such moments, effective leaders become 'strategic misers'. They totally control wasteful expenses that do not matter but do not hold back in making expenses, where critically necessary.