Why The Age And Size Of Companies Matter When Preparing Crisis Plans

Customizing crisis management plans to reflect the age and size of businesses can help ensure the effectiveness and relevancy of those plans.

Organizations that think generic off-the-shelf crisis plans are all they will need to navigate a crisis can be sorely tested when the unexpected happens. As they scramble to figure out how to respond to the crisis, the risks to their image, reputation and bottom line can increase by the minute.

To explore crisis planning more fully, Forbes opened up the conversation with various leaders in business around the topics of agility, risk, priorities, guidelines, and implementation of planning. Among these featured leaders was Jon Bostock of Leaf Home with specific insights on agility…

“At General Electric, where I started and grew my career, public issues were inevitable due to the scale and exposure of the business. We had a system in place which allowed us to quickly evaluate risk, activate a process, align stakeholders and take predefined actions,” Jon Bostock, president and CEO of Leaf Home, a home products and services company, said via email.

“This type of business decision-making matrix doesn’t exist within most smaller businesses, primarily because the organizations don’t have the need, haven’t developed the discipline or don’t have the capabilities,” he noted. “For leaders at less mature organizations, it’s critical to identify the types of crises they could face and then develop the framework by which risk will be assessed,” Bostock concluded.

Read the full article on Forbes

Related Articles

Sorry, we couldn't find any posts. Please try a different search.