The present global economic crisis has affected most of the countries and organizations in varying degrees. While finding ways to tide over the problems faced, organizations should not merely stick to the beaten path of cost-cutting alone. The article suggests that they should exploit the opportunities inherently present in the crisis itself, rather than finding short-term quick fix solutions, like downsizing and taking stringent expenditure control measures. They should take a long-term perspective, keeping an eye on the possible prospects after the crisis as well. Leaders must set examples in trying times and use their creativity to emerge as crisis heroes, the article concludes.

The present global economic crisis has affected most of the countries and they all can be said to be admitted in the Intensive Care Units. But comparatively, India's condition does not seem to be not all that bad so far. So we may say that India is one of the healthiest patients in the ICU! Or the fact may be that India contacted it later, and may be on the way to developing a more serious condition shortly. Sighting the problem, President Barack Obama said, "The 533,000 jobs lost last month, is the worst job loss in 34 years... Each of those lost jobs represents a personal crisis for a family somewhere in America. Our economy has already lost nearly two million jobs during this recession." Managers generally try to see an opportunity in every crisis. The Chinese word for `crisis' (weiji) is composed of two characters – one signifies `danger'; the other, `opportunity'. In reacting to the current global economic crisis, governments and organizations often see mainly the first meaning. But it is the second meaning that is more important: Every crisis carries within itself an opportunity, a chance for a relook, and for adaptation. President Barack Obama too did not lose sight of the second aspect, the opportunity: "At the same time, this painful crisis also provides us with an opportunity to transform our economy to improve the lives of ordinary people by rebuilding roads and modernizing schools for our children, investing in clean energy solutions to break our dependence on imported oil, and making an early down payment on the long-term reforms that will grow and strengthen our economy for all Americans for years to come." It is this ability to see the opportunity hidden in every crisis that sets apart successful entrepreneurs from the rest. The mosquito menace, lack of potable water, frequent power cuts and chronic power shortage are all severe problems. But it is common knowledge that they provided opportunities to many, to come out with solutions for them and in the process, build their own business empires. Vision of 2006 Nobel Peace Laureate and founder of Grameen Bank, Prof. Muhammad Yunus goes to the extent of suggesting conversion of the present crisis into an opportunity to end the massive disparities between rich and poor around the whole world. Hence, it all depends on one's outlook and one's vision.

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