Crisis Management 201

1. Protect your reputation — Your reputation is one of the most valuable intangible assets that is not on your balance sheet. No doubt the company already has a crisis management plan “on the shelf.” But it must be a dynamic document - tested under battle conditions - and updated regularly to take into consideration new tools and new communications channels which are developed every year.
2. Ensure a coordinated response — If you have not already done so, a “crisis czar” should be appointed — now — to lead in a crisis situation which, in our industry, could strike at any time. He/she should take the initiative — now — to appoint an Issues Management Team (IMT) with senior members representing all key departments — media relations, investor relations, state government affairs, employee communications, federal government relations, customer relations, corporate security and the law department. A war room should be designated and fully equipped to be self-sustaining (in the event of a power outage) during a crisis “siege.”
3. Do a threat analysis — start a running list of the Top Ten Vulnerabilities and “Targets” across the company — including product liabilities, operational risks, environmental hazards and financial exposure. This list should be refreshed every quarter.
4. Run scenario planning and simulation exercises — convene your issues management team for quarterly “dry runs” of different scenarios — complete with mock press conferences and “breaking news” which has to be responded to in real time. Each exercise should be video-taped for training purposes.
5. Conduct a gap analysis — to identify what new capabilities — in the form of consultants, staff, technology or training - you require to better address new threats to the business.
6. Refine your Key Messages — be clear about your vision and values. It is important to define and reinforce the company's positive role in society — what you stand for — before a crisis strikes.
7. Adopt a policy of transparency — to be credible and trusted - by everyone from employees to reporters — you must always “do the right thing,” tell the truth and don't spin the facts. This has to be part of your DNA.
8. Get on offense — avoid the natural tendency of denial and despair when public opinion turns against the company. You need to get off your heels, gain control of the story and get back on offense.
9. Prune your decision tree — in a crisis, time is your adversary. The news cycle is relentless and moves much faster than the approval cycle in most companies. Before a crisis strikes, you need to get management concurrence on the shortest possible clearance protocol.
10. Keep the business running - don't let the crisis distract your senior management from running the business. The CEO may end up being the best spokesperson for the company in a crisis, but he/she should delegate the “running of the crisis” to the IMT.

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