Management Articles


Patience Not Panic: Survive and Thrive Through Economic Turbulence

By: Eileen McDargh, CSP, CPAE

Eileen McDargh is a Hall of Fame professional speaker, management consultant, resiliency expert and top thought-leader in leadership.  Visit The Resilient Spirit at to get her free quarterly e-zine, read her blog and articles.  Read the testimonials from hundreds of satisfied clients from all over the globe and hire her to keynote at your next meeting or facilitate your next retreat.

From 28,000 feet, snow still spots parts of Michigan, Illinois and other states further West. The earth looks brown and barren, dark and ugly from this vantage point. But I know that if I could walk the fields and wait patiently, I’d see signs of new growth inching out of hardened earth. I’d eventually find dead-looking tree limbs swelling with rising sap, pushing buds into blossom under the warming sun.

But what if I opted NOT to be patient? What if I panicked, burned the dead-looking trees, cut off limbs, and retreated in disgust within my cocoon? Spring might NEVER come because my shortsighted actions jeopardized the natural course of events.

That’s what has happened with the stock market and many of our companies. It concerns me that such actions can create a rippling self-fulfilling prophecy. I’m concerned that departed talent and trust might not be regained within the workplace. I’m concerned that customers will retreat because quality and service could suffer as employees attempt to fill the shoes of a thinned out workforce. Here’s a hard pill to swallow but perhaps all of us – myself included—have become greedy for the amazing returns and astounding growth of the past eight years. Perhaps we’ve grown fat and lazy instead of prudent and thoughtful.

I think now is the time to focus on what’s important. For our families and our businesses to thrive, we need to ask ourselves what endures for the long haul and not the short gain. Innovation, engaged and talent-focused employees, customer-focused products and services and a deeply shared commitment to find ways for meaningful contribution carry the day.

By historical standards, we’ve been through far more dramatic financial times. Once the U.S. had 20,000 phone companies and 2000 auto companies. General Motors was once a tech stock. As we say in the coaching world, “from breakdown comes build up.”

I fully intend to be the voice of reasonable optimism. Now—more than ever—we need to meet, to talk, to vocalize our concerns and legitimize our fears so we can figure out a passage through this blip in business history. Philosopher Howard Zinn said that to have hope one does not need certainty, only possibility.

Let us figure out together how to be the bearers of hope.

© Copyright 2001 Eileen McDargh

Books by Eileen McDargh, CSP, CPAE

(You are viewing the U.S. bookstore. Click here to view the Canadian store.)

Other Articles by Eileen McDargh, CSP, CPAE

The author assumes full responsibility for the contents of this article and retains all of its property rights. ManagerWise publishes it here with the permission of the author. ManagerWise assumes no responsibility for the article's contents.


Place "+" (without the quotes) in front of words that must appear; "-" to exclude articles with certain words; and put double quotes around phrases. For example, fantastic search will find all case studies with either the word "fantastic" or "search" (or both). On the other hand, +fantastic +search will find only case studies with the words "fantastic" and "search". "fantastic search" will find only case studies that with the phrase "fantastic search". Note: Searches will not find words, such as 'management', that appear in more than half of the articles or words less than five letters long.


Would you like us to consider your own articles for publication? Please review our submission and editorial guidelines by clicking here.