Sense and sensibility

By definition, crisis has far-reaching implications. Whether because of purposeful acts, simple mismanagement, or other reasons, crisis often begins small but often escalates into full-blown events.

It’s not that organizations are not aware of such implications but often, in a cost-sensitive market, prioritization of potential risks, associated with unforeseen events, may be considered low, until the event actually takes place. As part of the executive committee of decision-makers and boards, there is a need to ask questions such as, ‘Are we ready to handle a crisis?’, ‘How do we know we are ready for one?’, ‘Do we have mechanisms in place to test and even measure our crisis management capabilities?’