CEO of Queensland Reconstruction Authority to join Deloitte
Business resilience and crisis management
Be ready, respond and recover because preparedness can make you stronger
Crises can significantly impact the financial standing, reputation and critical assets of any organisation.
The type of crisis an organisation can experience is diverse - natural disasters, cyber-attacks, misdeeds, financial crime, financial distress, technological or industrial threats, supply chain failure, reputation-damaging fraud, product safety recall, operational collapse, technology failures and disclosure issues - all potentially triggering further complex and damaging events and issues.
Change the way you think about a crisis
- Are you prepared? Many organisations devote substantial time and resources to risk management, however the predictable can often give way to the unpredictable and a risk, or a combination of risks, can turn into a crisis. These organisations believe they have their universe of risk under control but are deeply unprepared for a crisis when it emerges
- Response time is critical: When a crisis occurs, organisations are at their most vulnerable. They need a partner in the trenches helping them stay focused on the most significant issues and developing a strategy to address all their issues. In this situation it can be very hard to clearly and calmly identify the right partner.
- You can recover to a better position: An organisation may think a crisis is over once immediate issues are addressed but that is not the case. The way they capture and manage data, log decisions, manage finances, handle insurance claims, and meet legal requirements on the road back to normal can determine how well they recover and the value they capture.
Leadership during a crisis
Our team’s experience in Australian and global crisis events has shown that organisational leaders from the CRO, CIO, CFO, CEO through to the board, may experience many of the following issues in a crisis:
- Time-pressured decision making
- Disruption to strategic objectives
- Demands from multiple, diverse stakeholders
- Intense and immediate public exposure
- Overload on existing or remaining infrastructure and resources, especially people
- Escalation of severity
- Organisational paralysis
- Loss of control.
When facing these issues, organisational leaders usually also face a wide array of escalating events or triggers – typically a combination of issues and events – collectively resulting in systemic weaknesses that undermine trust, reputation and an organisation’s capability to act.
Addressing these kinds of threats requires organisations to step forward with decisive leadership and take actions that are wholly consistent with their core values and character.
The Deloitte Centre for Crisis Management and Real time response network
We help our clients:
- Minimise the potential for financial loss and business disruption
- Preserve company reputation and protect brand equity
- Protect organisational assets and constituents
- Enhance business continuity and resiliency
- Mitigate exposure to liability and risk.
Our crisis management approach is designed to help clients stay ahead of growing threats caused by major crises events. We respond quickly and effectively using long-established local, regional and global networks and offer one integrated system, at the ready, for clients in need through:
- Our 24/7 monitoring identifying, tracking, and analysing data sources for potential business disruptions and post-crisis impacts
- Crisis simulations helping the C-suite and Board prepare for crises through customised behavior based simulations
- A rapid response team helping clients quickly resume business as usual, by rapidly deploying the right subject matter experts within hours of a crisis
- Crisis communications deployed to assist clients in stakeholder management, controlling messages, and mitigating reputation and brand related threats.
Graeme Newton, Lead Partner - Crisis Management, discusses crisis threats and how Deloitte can help
Mergers and acquisition advisory