In today’s complex and rapidly changing world, leaders are confronted with unparalleled challenges. The unpredictable nature of global markets, accelerating technological advancements and shifting geopolitical dynamics demand effective decision-making and strategic thinking, and the life and career of Dwight D. Eisenhower, five-star general and 34th President of the United States, offers a blueprint for mastering these challenges.

Eisenhower’s leadership style was characterized by a famed ability to prioritize tasks and make strategic decisions, even under immense pressure. The Eisenhower Method, a straightforward yet powerful and enduring management tool, embodies his approach to tackling tasks based on their urgency and importance. By examining those crisis management skills and applying their central principles, leaders can gain valuable insights to help navigate the complexities of our current economic climate, and carve a path to success.

Decisiveness in the face of uncertainty

Throughout his military and political career, Eisenhower consistently demonstrated an ability to make clear and decisive choices, even amid decidedly uncertain circumstances. For example, during the planning and execution of World War II’s D-Day invasion, his ability to weigh the risks and rewards of various strategic options resulted in a decision to proceed with the assault despite unfavorable weather conditions, among other uncertainties.

Key takeaway: In today’s fluctuating economy, leaders must be decisive and proactive in responding to market downturns, supply chain disruptions and other crises. The ability to make critical choices under pressure is more important than ever in order to chart a course through uncertainty, challenge and competition.

Collaboration and teamwork

The emphasis the Supreme Allied Commander in the European theater placed on collaboration and teamwork has similar relevance to modern leadership. By fostering strong relationships with key stakeholders, including foreign leaders, members of Congress and other military officials, he was able to build consensus around critical decisions and ensure the successful implementation of plans. This collaborative approach resulted in navigating complex political and military landscapes effectively and a long list of victories, both military and political.

Related: Two Strategies for Leading Through Chaotic Situations from Two of America’s Most Legendary Military Leaders

Key takeaway: In today’s interconnected world, leaders must work closely with teams and partners — embracing a culture of collaboration and open communication to address the challenges posed by economic volatility. By building a strong network of allies and fostering a cooperative environment, they can more effectively address what will inevitably be multifaceted tasks, from navigating regulatory hurdles to adapting to new market dynamics.

Flexibility and adaptability

Eisenhower was not afraid to modify plans or change course when new information came to light or when other circumstances demanded it. This adaptability allowed him to respond effectively to evolving situations and make the most of the resources at his disposal.

Key takeaway: Adaptability is particularly relevant for modern leaders, who must be prepared to respond to rapidly evolving conditions. By staying agile and open-minded, they can adroitly navigate economic volatility, and so remain competitive. Embracing this quality also enables organizations to seize new opportunities, turning potential obstacles into advantages.

Related: How Serving in The Army Taught This Leader The Importance of Employee Wellbeing

Applying the methodology

The Eisenhower Method is a simple yet effective tool that can help prioritize tasks and fuel better decisions. By categorizing needs based on their urgency and importance, leaders can focus on what truly matters. Its methodology lists tasks in the following categories:

1. Urgent and important

These are critical to achieving goals and require immediate attention. In the context of economic volatility, they might include responding to a significant market downturn, addressing a sudden financial crisis or mitigating a supply chain disruption.

In addition to addressing these immediate challenges, leaders should also consider long-term strategies for mitigating risk and building resilience. Developing contingency plans, diversifying revenue streams and investing in crisis management capabilities can help organizations better prepare for and respond to future challenges.

Related: Stop Focusing on What’s Urgent and Prioritize What’s Important

2. Important, but not urgent

These tasks contribute to long-term goals but do not require immediate action — for example investing in employee development, building a more resilient supply chain or exploring new market opportunities. While important, they can be scheduled for later: The key is identifying and setting aside time for them. If that’s handled, leaders can ensure they are making progress toward long-term objectives, while not being consumed by short-term demands. Developing a robust talent pipeline, fostering innovation and building strategic partnerships can help organizations adapt and stay ahead of the curve.

3. Urgent, but not important

These tasks demand immediate attention but are not crucial to achieving goals. Examples include dealing with minor administrative issues, addressing non-critical customer complaints or attending to routine paperwork. Whenever possible, these should be delegated to team members, freeing up leader time for more important and strategic matters, while empowering teams to take on responsibility and develop skills. In time, a culture of trust and accountability is created, which can lead to increased employee engagement and improved organizational performance.

4. Neither urgent nor important

These matters do not contribute significantly to goals and do not require prompt action. Examples might include attending non-essential meetings, browsing social media or engaging in office gossip. The key to managing these is choosing whether to minimize time spent on them or eliminate them.

Related: Prioritize This Guide to Learning How to Prioritize!

In the face of unprecedented challenges, Eisenhower’s leadership style and the timeless wisdom of his prioritization strategy provide invaluable guidance for overcoming a variety of obstacles. By learning from his example, leaders can not only navigate the turbulent waters of the global economy but also build more resilient, agile and successful organizations that thrive in the face of adversity.