MORE IDEAS FROM 7 critical steps to crisis management
A crisis can strike any company anytime, anywhere. Advanced planning is the key to survival.
Before a crisis strikes, business owners should think about how a disaster would impact employees, customers, suppliers, the general public and their company's value.
Crisis management refers to the identification of a threat to an organization and its stakeholders in order to mount an effective response to it.
Due to the unpredictability of global events, many modern organizations attempt to identify potential crises before they occur in order to sketch out plans to deal with them. When and if a crisis occurs, the organization must be able to drastically change its course in order to survive.
As a leader, when facing a crisis, you have to adopt the best position in order to ensure the efficiency of your action. And, most importantly, this action has to be taken as fast as possible.
The first 15 minutes after having found out about a crisis, you should be ready to provide a solution.
This is defined as any sort of threaten or danger that can damage the good standing of your business and negatively impact your reputation with consumers and overall business success.
Such risks are usually unexpected and occur with little to no warning. All kinds of reputational risk can cause consumers and sometimes business owners to lose confidence in the business.
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