Strategic choices for managing potential crises

Abstract

PurposeThe article guides executives and their staff on how to respond to and manage a potential crisis as it is evolving.Design/methodology/approachThe article offers three sets of questions that executives can use to help them clarify what is happening and what the appropriate response should be in the event of a potential crisis.FindingsEvery crisis is a business problem before it is a communication problem. Effective crisis response pairs smart action with smart communication.Practical implicationsThe more candidly we articulate the problem, the more likely we are to effectively address it.Originality/valueAmong the many valuable insights in this article are these three: (1) Trust is the consequence of fulfilled expectations. (2) Framing decisions in light of stakeholder expectations leads to smarter choices faster, and maintains stakeholder trust. (3) Effective crisis response begins with a timely demonstration of caring.