Many companies do not make any plans to deal with a crisis, believing that such an event of any appreciable magnitude is unlikely to occur. Others plan for this type of event and ensure that they have the right resources in place to manage a crisis situation if and when it arises.
The major problem in trying to plan for a crisis is that it is normally an unpredictable event. This makes it hard to anticipate circumstances and devise a strategy to manage every situation that may arise. Effective crisis management needs to cover all bases and contain both internal and external damages that can occur as a result.
The number of possibilities that can trigger a corporate crisis are unlimited. It may be caused by poor sales, customer complaint, product recall, internal or external miscommunication, company fraud, unsatisfactory customer service or a bad product review. Whatever the cause, the consequences to the company can be severe. A crisis can affect company reputation, bottom line profit, share price, overall company value, employee morale and customer base.
When confronted with a crisis, the actions you take from day one are critical to your company’s welfare. In such a situation, your company and senior management will be under a spotlight, and every internal and external communication will be minutely dissected.
QualityStocks’ approach to the management of a crisis is to contain it as quickly as possible. Every angle of the situation must be addressed, and measures must be taken to minimize damage while keeping company operations running smoothly.
We provide a team of experts to help our clients manage and contain a crisis from the start. They can help you to compile a management response to the crisis and assess what further action needs to be taken. QualityStocks executes aggressive damage control by implementing the right strategy and using the appropriate resources to limit bad publicity, re-build reputation and guide you through the reconstruction of your brand.