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In today’s fast-paced, interconnected business environment, a crisis can strike at any moment—and spread like wildfire. Without a robust crisis management strategy, the damage can swiftly become all-encompassing, and in some cases irreparable.
Despite this, many companies are still caught off-guard when disaster strikes. They assume they’re prepared to weather the next cyberattack, natural disaster, product recall, or corporate scandal, but they don’t take steps to confirm the accuracy of their assumptions. As a result, they experience greater levels of financial, reputational, and operational damage when a calamity occurs, and their recovery times are often significantly longer than those of companies that had planned for such an event.
At a time when potential crises loom around every corner, it’s no longer realistic to simply strive to avoid them. Instead, the ultimate goal of every business should not only be to mitigate risks, but also to effectively prepare, respond, and recover from crises as swiftly as possible when they do happen. Organizations must also develop processes to effectively apply the lessons learned, and seize the opportunities that arise throughout and following a crisis.
By viewing crisis management as a lifecycle, exploring the elements of a successful simulation program, outlining the necessary steps to mitigate a cyber breach, and breaking down the secrets to a swift and thorough recovery, this blog series aims to reframe the traditional approach to crisis management—and help organizations glean a more holistic understanding of what it actually means to be crisis-ready.
Being at the ready significantly reduces the negative impact of a crisis.
Board level support is critical to the success of a crisis management plan.
21% of business continuity, and senior risk executives surveyed advised that with board participation,
the number of crises has declined over the last decade.
To increase your preparedness, read more on how to treat crisis management as a continous lifecycle.
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Organizational confidence is outstripping preparedness as the level of maturity is being set too low.
86% of organizations feel they are fairly or very mature in crisis preparedness, yet most haven't tested that belief.
Read more on how simulation exercises increase the likelihood of a successful recovery in the event of a crisis.
Find out more >>
Effective leadership and decision making is one of the greatest crisis management challenges.
Organizations can help leaders become crisis ready by:
1. Organizing leaders ahead of time.
2. Training leaders in the tools and techniques that can help them through a crisis and stress testing these learnings.
3. Identifying, improving, and counter-balancing for leadership tendencies and styles.
Find out how effective leadership can add value during a crisis.
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The art of readiness
Practice what you preach
It’s no secret that sound preparation is key to successfully weathering a crisis. Without it, companies are more likely to find themselves subjected to negative media coverage, a tarnished reputation, lost customers, and high recovery costs—all of which dramatically affect their bottom line.
Recover strong
What to do after a crisis hits
Integrating a recovery process into your organization’s crisis management plan is critical. Your people need to understand the actions required of them after a crisis strikes—from communicating with stakeholders to applying lessons learned.
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