Insights for Leaders
Best Practices in Crisis and Risk Management
The events of the past year have vividly illustrated the need for corporate leaders to anticipate and prepare for a crisis. Cross-border cybersecurity breaches, expanding expectations of businesses, and their leaders related to social and environmental concerns, and an increasingly polarized political environment all create the risk of incidents that could lead to media firestorms, government investigations, or high-profile litigation.
Here, we provide insights on crisis and risk management for business leaders. After outlining different types of crises facing organizations today, we provide thoughts on managing through a crisis; a discussion of the board’s role in a crisis; and, finally, some observations on how to prevent or mitigate a crisis before it starts. Throughout, we focus on the critical leadership qualities for effectively navigating an organization through a crisis.
