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As the world becomes more complex and connected, the threat of a corporate crisis grows. There are instances everywhere: a pandemic spreads worldwide, causing massive global business disruption and a public health disaster; a corruption scandal causes a corporate leader to step down; a data breach shakes customer confidence; quality issues trigger a widespread product recall. These are just a few examples among many. Organisations face challenges that present varying levels of severity. But handled poorly, even a seemingly minor shock has the potential to escalate into a crisis that threatens the viability of a business.
There are different types of crises, and they can arise anywhere, anytime, for a myriad of reasons. Usually triggered by significant internal or external factors, every crisis has the potential to:
“Having the right information enables you to get to the heart of the matter quickly. Strong crisis responders understand, prioritise and address the crisis head on – building confidence with your stakeholders and taking control of the situation.”
The effect of a corporate crisis can be catastrophic – to brands, people and the bottom line.
Even more than standard incidents, crises require speciﬁc eﬀorts because of their ability to quickly and permanently disrupt your business. A company’s ﬁnance, IT, operations, legal and other core functions can be simultaneously aﬀected by a complex crisis. Whatever occurs, ‘business as usual’ becomes a thing of the past.