It's no surprise that many industries are undergoing unprecedented change, and it's going to continue. A recent article, authored by Marilyn Nyman and appearing in Life Science Leader magazine, offers some advice for leaders whose teams are experience rapid business or industry change. 

Among the suggestions for leaders facing this challenge: 

• Don't let ambiguity overwhelm you...regardless of whether your challenges involve adapting to a new CEO, parent company or organizational structure; dismantling a team you've spent time developing; walking the tightrope of working with sites in lower-cost locations; or finding yourself competing against your former global partners.  Your strategy during this time of uncertainty should be the same: it's time for situational leadership. Remember, executives who spend their time seeking quick fixes will be disappointed with the results and ultimately unsuccessful in both their leadership strategy and career path.
• Network – both internally and externally. This should not be an afterthought; you cannot afford to be insular in a changing industry. It's a given that you need to network externally in your industry -- as well as in your social and professional circles. However, many executives tend to forget that networking inside the company is just as important, perhaps even more so, in times of change and ambiguity.
• Leverage the ambiguity.  If you're not curious, you're dead. The more you know – about the competition, new markets, and the landscape of potential acquisitions -- the better prepared you are to step up and lead when a new project, position or assignment opens up. Expand your reading material beyond the basics.  Consider The Financial Times (www.foreignaffairs.com), The New Republic (www.tnr.com), and The Economist (www.economist.com). These additions to your regular reading will help you expand your horizons and give you access to concepts you can make use of as a leader.

For the full article in Life Science Leader, please visit:
http://www.lifescienceleader.com/index.php?option=com_jambozine&layout=article&view=page&aid=4055