The Stockdale Paradox

I am currently reading a great book by Jim Collins entitled, Good to Great. In the first chapter the author discusses the different levels of leadership. Level 5 leadership is the the one that we all should aim to achieve in our lives as leaders. Under this heading he says that those who posses this level will confront the brutal facts, but will never lose faith. He makes reference to this concept entitled the Stockdale Paradox. The following is the definition that he gives of what this concepts entails:

"Stockdale Paradox: You must maintain unwavering faith that you can and will prevail in the end, regardless of the difficulties, AND at the same time have the discipline to confront the most brutal facts of your current reality, whatever they might be."

As a leader this is a difficult thing to do, but is an attribute that I hope to master. How well do you as a leader confront the brutal facts of your current situation? Do you find it hard to do so and at the same time keep the faith? I look forward to hearing some feedback on this one.