There are very few people who can work in a genuine tiger team environment. Politicians by definition do not.
Prioritize triage and contain the damage. Establish priorities, find out what is bleeding the most, and direct the initial effort to this goal.
Stamp out problems early. Beware of the danger of problems spiraling out of control, especially when they have initially not been addressed with great enthuiasm.
Establish ownership, and decide who has responsibility for solving the problem.
Authority to make decisions should migrate to the people with the most expertise, regardless of rank.
Search for early warning signals.
Search for the potential impact of external events.
Troubleshoot. Teams in crisis do what they know how to do but they do it more intensely. If they are good at discipline, planning and oversight, that is what they do instead of troubleshooting.
Don’t micro manage. There is strong pressure for upper management to seize control, making decisions that lower level people are more competent to make.
The real problem may not be what it appears to be. The more serious issue may be market facts and not a finance issue.
Focused on improving markets and dialog. A disciplined search for solutions can create options and opportunities.
Poor decisions hurt. Don't make decisions without a full appreciation of the consequences.
Outside expert opinion needs to be integrated into the team. Do not render advice at a too high or superficial level.