Crisis management is a strategic imperative

Crisis management is a strategic imperative

The threats facing organisations today are complex, unpredictable, multi-faceted, and have far-reaching consequences. Crisis situations, such as cyberattack, supply chain disruption, workplace violence or financial crime, if not managed well, can cause significant financial loss, irreparable reputational damage or even threaten the very existence of the organisation.

Crisis management is a strategic imperative that requires dedicated resources and top management attention.  Good preparation and building an effective strategic capability in crisis management help to reduce the odds of a crisis occurring and limit potential damage when a crisis does occur.

This involves:

  • Developing a crisis structure with well-defined roles and responsibilities and response protocols

  • Having good situational awareness and information management capability in a crisis

  • Effective engagement and communication with stakeholders

  • Training executives in the art and practicalities of leading and managing a crisis

Further guidance on crisis management can be found in the recently released standard, PD CEN/TS 17091 “Crisis management – Building a Strategic Capability”. Riskwest will also be conducting the BCI Incident Response and Crisis Management training course in Sydney, Melbourne, Adelaide and Perth. Further information is available at https://riskwest.com.au/training/