By melding traditional crisis management with modern techniques and technology, organizations reduce the likelihood and impact of crises. The competitive advantage that comes from organizational readiness is immense: it fosters success where others would fail.
Reducing the likelihood and impact of a crisis, easing the path to recovery
Today’s crises are triggered by events inside and outside of a company’s control. The list is long: political interference, instability and unrest; terrorism; physical and cyber security breaches; workplace violence; insider malfeasance; IP theft; fraud; regulatory compliance failures; product recalls; natural disasters; supply chain disruptions.
A number of factors are combining to increase the frequency, complexity and types of crises companies face. Organizations must ensure they stand ready, respond effectively and recover stronger.
Resolving critical issues and crises is a core part of Control Risks’ DNA, forged over 40 years during which we have helped more than 5500 clients in nearly 150 countries.
Islamic State is under pressure following territorial losses in the Middle East. But it is not yet defeated as either a military or ideological force. Meanwhile, we are seeing increasingly diverse terrorism threats globally - not necessarily more severe, but often less predictable.
Natural disasters must be factored in when assessing risks and threats and how to mitigate them. 2017 showed that worst case scenarios do happen. It is during these times that organizations must become resourceful and leverage all available resources to resolve a crisis.
Seizing opportunities involves taking some risks. With the right insights, planning and programmes, an organisation can absorb shocks and continue successfully. But sometimes an incident or crisis can strike, seemingly out of the blue. You must respond, recover and learn the lessons for the future.
There are a number of common mistakes we see as organizations establish global readiness programs. They can lead to a plan that sits unused on a shelf when disruptions occur. Getting the set-up right will help ensure the global adoption of a sustainable, flexible and practical program.