How to Play Cool During Crisis Management

How to Play Cool During Crisis Management As mentioned by experts, crisis management is multi-dimensional and one has to work towards sorting a number of issues in order to make sure everything is back on track.

Companies always have to be on their toes so they can resolve little crisis every now and then. Crisis is something that no organisation can escape since minor accidents are supposed to happen. Also, with the dominance of social media, even one haphazard tweet or a post can ruin a company’s reputation. However, dealing with a bigger crisis is wholly a different matter. One needs to be more responsible, calm, and must act as an organization rather than an individual.

There are a number of crisis management incidents related to big brands that got our attention in the recent past.

Talking of Nestle’s Maggi that induced a nation wide food scare is not hidden from anyone. The increased quantity of Lead in the noodle's instant maker even led to a temporary ban. The controversy took the company's reputation and decades-long trust.

However, Maggi got back in the market with a promise that they won’t use such hazardous components in their product.

Another example of crisis management was of Starbucks when they were bashed for irresponsible behavior as one of theur employees accused people of color to be terrorists. Later, the CEO of the company made some strict rules and promised that it will never happen again and Starbucks was able to bounce back from the situation.

But what does it need for an organisation to emerge from such adverse circumstances and shine even better? Is there any mantra to it? Let’s have a look 1. Monitoring, preparing, and rehearsing are the most effective ways to get ready for a crisis event. Organizations that can plan and rehearse potential crisis scenarios should be better positioned to respond effectively when a crisis actually hits.

2. Reputational risks destroy value more quickly than operational risks.

3. Teams on the ground need to take control, lead with flexibility, make decisions with less-than-perfect information, communicate well internally and externally, and inspire confidence. This often requires outside-the-box thinking and innovation.

4. Almost every crisis creates opportunities for companies to rebound. Such

opportunities will surface only if you’re looking for them.

5. The work goes on long after you breathe a sigh of relief. The way you capture and manage data, log decisions, manage finances, handle insurance claims, and meet legal requirements on the road back to normal can determine how strong you recover.

Crisis can be handled with finesse if organisations play by some ethics and rules. Right from monitoring every aspect of your business with 24/7 monitoring to real time response and crisis communication. Having information, analytics, and innovative tools that would likely be available in real crisis situations, combined with practical experience, is important to immerse participants in a fully interactive environment.

These simulations can help organizations evaluate their response preparedness, while also providing the experience needed to be effective when a real crisis strikes.

Read Deloitte Tips about crisis Management.