Chaos/crisis/challenges represents a defining moment for a leader – these situations help them truly understand what they are capable of. In these challenging times, there is always a sense of denial in the early stages – people question “this cannot be really happening”. The key is to get out in front of the crisis/problem as early as you can.
When facing a crisis many just try to “get through it” with the least amount of damage – they are willing to be a victim as opposed to a master of their circumstances. They put their heads in the sand (and get their competitive/market share butt kicked); hunker down and hope that it will pass and everything will return to normal.