10 steps for your company to face a crisis

Any organization can go through a crisis that jeopardizes its reputation and shakes its relationship with customers and other stakeholders.

Various studies consider that reputation is an increasingly important asset, since in many cases, the purchase decision depends on it and if it is lost or damaged, it may even imply a decrease in the value of companies in the market.

It is estimated that 80% of the value of brands currently resides in their reputation, it means, in the perception that people have in relation to their offer of products and services, their social responsibility and their administration.

Crises cannot always be avoided, which is why preparation and planning become vital. Online, it is advisable to take time to develop a protocol that allows the different parties involved to know how to react.

It is therefore essential to develop a manual or document to know how the company will react in the event that one of the risks detected materializes.

For the preparation of the Crisis Manual, take into account the following aspects:

  1. Analyze the list of operational risks detected.
  2. Define which of these also represents a reputational risk.
  3. Conduct interviews with key areas for the operation of the company to help detect additional risks.
  4. Based on your analysis and interviews, create a final list of reputational risks and divide it into categories. For example, financial risks, environmental risks, product or service risks.
  5. Validate the listing and categorization with your superiors.
  6. Rate the risks according to the probability of their occurrence and the impact they would generate if they occur.
  7. Create ideal communication flows for crisis situations.
  8. Develop base documents to be able to react to different audiences.
  9. Review and update the document once a year, as new risks may arise over time.
  10. Safeguard the document and give it access only to those who need to know it to implement the company’s actions in crisis situations.

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