Below is a lesson from Harvard Business Review on how leaders can develop and practice courage in times of uncertainty, as well as our key learnings.

The Blue Courage team is dedicated to continual learning and growth.  We have adopted a concept from Simon Sinek’s Start With Why team called “Learn, Share, Grow”.  We are constantly finding great articles, videos, and readings that have so much learning.  As we learn new and great things, this new knowledge should be shared for everyone to then grow from.

Now Is the Time for Courage

Five strategies to drive bold action amid uncertainty. 

by Ranjay Gulati

From the Magazine (September–October 2025)

In the face of political, economic, and technological uncertainty, business leaders are often reluctant to take bold action. Some freeze, too overwhelmed to make decisions. Many hunker down, hoping to wait out the chaos. Others retrench, trying to protect their organization’s future and their careers. However, research shows that the old adage is true: Fortune favors the brave, not the cautious.

This is what my colleagues Nitin Nohria and Franz Wohlgezogen and I found more than a decade ago, when, during the 2008 financial crisis, we examined how 4,700 public companies had navigated the three previous recessions. We discovered that about 9% were able to emerge from each downturn in stronger shape than before, not just because they thoughtfully cut costs but also because they simultaneously took calculated risks to invest in growth. Without intending to, we documented the significant difference that courage makes in business.

Since then, I’ve been investigating what drives courageous behavior. In challenging circumstances, why do some leaders make daring moves while others hesitate? Philosophers as far back as Socrates, Plato, Aristotle, and Mencius pondered whether bravery was an innate virtue or could be taught. Modern-day scientific research, spanning the fields of psychology, sociology, economics, neuroscience, and healthcare, confirms the latter view, showing that many types of people, including those who didn’t previously consider themselves brave, can be just that when the situation calls for it. And yet few studies have sought to understand how individuals can become more courageous—until now. Over the past several years, I have surveyed existing social and natural sciences scholarship, collected and analyzed leadership stories—some through archival research, others through more than 200 detailed interviews—and distilled the insights into a playbook for anyone looking to be more intrepid at work.

Continue reading here.

Key learnings: 

• In times of volatility and uncertainty, many leaders freeze, retreat, or over-focus on risk avoidance.

• Research shows that the most successful organizations combine prudent risk management with bold, purpose-driven action.

• Courage is not innate—it can be developed and practiced.

• Five Strategies to Build Courage

  1. Create a Positive Narrative

  • Reframe uncertainty as opportunity, not chaos.

  • Anchor decisions in a moral quest or values-driven purpose.

  • Draw strength from faith, belief, or meaning systems to lessen fear.

  • Example: CVS ending tobacco sales despite losing $2B revenue.

  2. Cultivate Confidence

  • Confidence grows from deep competence and preparation.

  • Build a broad “tool kit” of skills and perspectives.

  • Focus on what’s controllable (process and preparation) rather than uncontrollable outcomes.

  • Example: Sully Sullenberger’s lifetime of training enabled the Hudson River landing.

  3. Take Small Steps (Sensemaking)

  • Boldness doesn’t always mean big leaps—start small, experiment, and adjust.

  • Break down uncertainty into manageable actions to gain clarity.

  • Stay curious, adapt, and pivot based on new information.

  • Example: Fukushima’s Daini nuclear team averted disaster by iterating step by step.

  4. Find Connection

  • Courage thrives in community, not isolation.

  • Lean on allies for emotional strength.

  • Access resources (mentors, networks, funding, expertise).

  • Seek constructive feedback and critics to refine decisions.

  • Example: Chanel’s Leena Nair drew courage from mentors and family support.

  5. Stay Calm (Emotional Regulation)

  • Self-care (sleep, nutrition, mindfulness) is foundational.

  • Rituals and routines ground leaders in uncertainty.

  • Reframe situations to reduce fear—ask “What could go right?”

  • Example: BlackRock’s Larry Fink reframed crises as cycles humanity has always overcome.

• Courage is not reckless risk-taking; it’s intelligent boldness rooted in purpose.

• Leaders must cultivate courage individually and collectively to address global challenges like climate change, inequality, and polarization.

• The greatest danger in uncertainty is not being too bold—but being too timid.

• Courage is a learnable skill. By shaping narratives, building confidence, taking small experimental steps, connecting with others, and staying calm, leaders can act boldly—even amid fear and ambiguity.