4- Crisis Management

Question 1

types of crisis management

Answer 1

1) responsive
2) proactive
3) recovery

Question 2

responsive crisis management

Answer 2

building a plan that includes communication with stakeholders
informing employees, and creating adaptive solutions

Question 3

proactive crisis management

Answer 3

anticipating potential crisises and working to prevent or prepare for it
actively monitoring threats to reduce impact

Question 4

recovery crisis management

Answer 4

comes into play after a crisis has happened

minimizing the damage, restoring operations, and rebuilding the business after the crisis has occurred

Question 5

define a business crisis

Answer 5

an unexpected problem puts the stability of an organization at risk.

can originate internally, or externally.

Question 6

how to identify a business crisis (3)

Answer 6

there’s an imminent threat to the organization
the situation involves suprise or shock
the situation places pressure on the business to make timely decisions

Question 7

some of the most expensive corporate crises and their lessons

Answer 7

1) BP Deepwater horizon (oil leak) -> create a safety culture
2) wells fargo (sales practices scandal) -> live up to your values
3) JP Morgan chase (financial exposure) -> c suite needs to stay on top of risk
4) facebook (user privacy)
5) equifax (data breach) - take crisis prevention and plannign seriously

Question 8

what to do in a crisis

Answer 8

1) asses the situation
2) install a crisis team
3) define roles and responsibilities
4) agree on a communication strategy
5) define a timeline
6) safeguard business as usual
7) implement changes
8) closure and lessons learned

Question 9

what can a consultant do in a crisis?

Answer 9

• Help to Stabilize
• Help to Prioritize
• Help to Communicate
• Help to Organize
• Help to Execute
• Help to improve