on February 17, 2006
Understanding that completely eliminating crises is impossible, the authors of this book lay out a model any company can use to limit both duration and the magnitude of the crisis. This model ensures the major objectives of a company's business are not derailed during a crisis or series of crises.
A best-practice model is offered that identifies five factors that companies must manage before, during, and after a crisis: 1) the type and risk categories of crises, 2) mechanisms, 3) systems, 4) stakeholders and 5) scenarios. These five components form a crisis-management framework, that when integrated with other important organizational programs, such as planning, issues management, or quality assurance, will help companies weather severe storms.
The authors discuss the importance of truth-telling. In the light of the recent events with Enron and Andersen, the authors' advice to companies to not ask if the truth will be revealed, but rather when the truth will become public and under what circumstances, seems both timely and poignant.