Crises are leadership litmus tests—make-or-break challenges, such as the Covid-19 pandemic—that are often unique and random, appearing out of nowhere with no clear road map. Many of those who prevail understand that crises are inevitable and seek to learn the lessons of experience. They then integrate those lessons in their decision making, framing mechanisms, and leadership processes and practices.

But learning must not be confined to the post-crisis period. Gathering relevant examples and lessons should be ongoing, before, during, and after any crisis. And it also must not be confined to your own experiences. Analyzing and benchmarking what others do—be they competitors, regulators, policymakers, or leaders in organizations, industries, and sectors other than our own—is a chance to learn vicariously, helping to overcome complacency and lack of experience when a crisis hits. Those who miss this critical opportunity are left vulnerable to the next crisis because they fail to scan, prepare, see the bigger picture, and take in diverse perspectives.

Action steps

1. Before a crisis: Early warnings, signal detection, and prevention

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