This month Strategist is focussing on leadership in turbulent times.

Over the past few months, the view of the global economy has shifted from optimism to pessimism. Commodity prices are soaring to stratospheric levels, making raw materials more expensive putting the squeeze on consumers. New economic powers are rising in China and India - presenting fresh challenges for established companies.

So how should businesses react to turbulence in the global economy? Should they slim down? Expand? Or just stick to their existing plan and refuse to be blown off course.

Matthew Lynn discusses the issues with his guests Tim Ringo, Global Leader for Human Capital Management Services at IBM, Anthony Holmes, a writer and lecturer on business as well as a company turnaround specialist and also with Martin Vander Weyer, the editor of Spectator Business.