On the board’s agenda
Stepping in: The board’s role in crisis management
A true crisis brings a punishing level of scrutiny and pressure that can be overwhelming if an organization is not prepared to manage it.
In this increasingly volatile environment, it is no longer possible to say ‘it can’t happen to us’ or ‘we’d manage.’
A good crisis response is, of course, about swiftly addressing what has gone wrong, but it is also about being externally focused—communicating to stakeholders, shareholders, regulators—and it is about making big decisions that have a significant impact on the future of the organization. It should be an integral part of the wider organization’s resilience measures and not simply something to deploy when all other options have failed.
There are actions boards can take now—and questions they can ask—to give themselves comfort that the organization is prepared to manage a crisis. When the stakes are high and scrutiny is intense, the board has a unique role. Stepping in may be uncomfortable, but stepping aside is not an option.
Prepare your board today by downloading the latest edition of Deloitte’s Global On the Board’s Agenda publication—Stepping in: The board’s role in crisis management.