January 16th, 2022
Forbes recently published an article where Moshe Cohen, Senior Lecturer of Management and Organizations discusses the level of crisis preparation, or lack thereof, within organizations.
Although crises are often sudden, unexpected, and undesired, any organization must be prepared to deal with them. Ironically, the C-Suite Outlook 2023 study in the article revealed that many CEOs feel unprepared for major crises, including cybersecurity, global health, and financial crises. This lack of preparedness within organizations often leads to rash decision making and brand credibility damage when dealing with a crisis.
Moshe offers insight on preparing for potential crisis’s, adding the importance for CEOs to “update their company’s systems and processes to deliver critical information they need in real time.” Moshe emphasizes the importance of a communication plan in anticipation that a crisis may occur within an organization.
Organizations must establish effective measures to prepare, communicate, and execute a crisis management plan to best protect their brand.