Crisis Management 101 — How To Tackle Business Issues Before They Become Problems
As much as you’d like to think that bad tides won’t knock you down, your firm is not disaster-proof. A small tiff in the top management or a sudden uproar among the employees can risk your company’s survival if the issue is not addressed then and there. CEO and founder of Virgin Group Richard Branson says ‘The true test of a company’s leadership, especially of a CEO comes during a crisis.’
From ethics and environmental violations faced by mammoth organizations like Exxon Mobil and British Petroleum to famous PR fiascos suffered by McDonald’s, Krispy Kreme and Lego, you’ll find dozens of classic crisis management examples. Read more cases here.
I know, we do tend to believe that keeping everything under control is key to avoiding a disaster but if you plan on doing nothing, you are planning to fail. The above mentioned companies faced criticism for their mistakes on a national level and some, even overseas because they did not have a strategy in mind to tackle an unforeseen situation beforehand.
In this article, we will discuss in detail the different types of crisis and theories on how to resolves them before they get out of control.
