How To Display Competence In Times Of Crisis
Source: University of Michigan (Ross)
In recent years, U.S. newspapers and television have featured some company in crisis almost daily. The crises have ranged from corporate fraud to allegations of widespread sexual harassment or discrimination. In almost all cases, the leaders of these companies are caught off guard; yet with the world watching, they are expected to say (and do) something to manage the situation. The consequences of mishandling a corporate crisis on a firm's reputation can linger for decades. We want to emphasize that it is often the mishandling of crises, not the crises themselves, that can have the most severe consequences for a firm. What differentiates those firms that thrive following a crisis from those that do not is the leadership displayed throughout the process.