These days many business consulting firms and online business firms are interviewing CEOs from companies of various sizes and creating lists of strategies to overcome tough times. This article highlights the results of some of those interviews and surveys.

Some organizations react to tough times by burying their heads in the sand so to speak; however, this is a strategy for death. The first principle of survival is to confront the reality of the situation.

In hard economic conditions, an enterprise can lose sight of its chief objectives which can cause the entity to lose focus and go further adrift. Keeping the strategy front and central can help streamline the operation for success.

Sometimes in the stress of the pinch, leaders and managers attempt wild and aimless cuts that take their toll on employees and customer service and leave the company short changed. Staying true to support staff and clients can build deep loyalties that will pay off as a competitive advantage in the boom times.

One temptation leaders face in tough times is a tendency to worry about things they cannot control. This is a waste of energy and can drain creative juices needed for the long-term recovery. As stated above, focus on your core vision and you will thrive while others flounder.

A fifth principle for leading in hard situations is to get out the knife and cut the fat. Every organization has at least some waste; the trick is how to trim the unnecessary stuff without gutting the enterprise of its strength to make the turn around when things get better.

This is principle is probably inherent in #3 but it can never be emphasized enough. It is human nature to avoid tough situations and no one likes to hear bad news, but it's even worse when the bad news comes throught the grapevine. Communication is a key factor of success in all institutions at all times, even more so in difficult conditions.

This tip comes from Dr. Terry J. van der Werff, 2001. In tough economic times, many organizations are forced to lay off good people. This is a good time to enhance the overall talent pool of the enterprise. At the same time, when one division of the company is suffering redeploy your best people to give the division a boost or to keep the best people motivated to stick with the team.

van der Werff, Dr. T. (2001). Seven Rules for Leading in Tough Times. Global Future Report.

Carey, D., Patsalos-Fox, M., and Useem, M. (2009). Lessons for Hard Times. The McKinsey Quarterly.

Knowledge @ Wharton (2009). DuPont CEO Ellen Kullman's Four Principles for Moving Ahead during Turbulent Times.