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Advanced Crisis Plans
At some point, every company will deal with a crisis of some sort. A crisis may result from a number of things, some which can and cannot be controlled, that may ultimately affect a corporation. Crisis can result from catastrophic events like 9/11, the recent school shooting at UCLA, churches and movie theaters, airplane crashes, improprieties of corporate executives or an untimely illness of a corporate executive like the late, Steve Jobs. A company may even face a crisis due to product liability issues. Car manufacturer Toyota faced such a crisis when they had issues with unintended accelerations a few years ago. A crisis can also result from a natural disaster, such as Hurricane Sandy or the flooding in Nashville that destroyed the Opryland Hotel and cost millions of dollars to repair. As you can see, the magnitude of a crisis may vary but keep in mind it can spread rapidly as a result of social media.
Our crisis plans are unique because we know each business has it own unique obstacles it will face, so we want to focus on those particular needs and help determine how to prepare. We have also learned that most businesses are not aware of the specific crisis they may face, there for this process is important. Consider having a crisis plan like having auto insurance, if you can’t drive with it and it is designed to protect in the event of an accident. 75% of crises end on a positive note when a plan is in motion. Although you might be a great driver, it is still important/required to have.
Needless to say, the cost of crisis mismanagement cannot be measured. We know that mismanagement impacts the bottom line, either by driving up litigation costs and settlements or hurting the company’s brand. As a result, as with most risk management, effective crisis management should be driven in large part by the corporate legal and compliance departments. Research shows that 75% of crisis end on a positive note when a crisis plan is in motion. The best crisis management is to prevent one. Type your paragraph here.