When is a crisis not a crisis? When it is an opportunity.
At the mention of the word crisis, images of big brands such as BA and Shell immediately spring to mind. But the reality is that a crisis can hit any company at any time for any one of a number of reasons.
Todays business climate is such that the potential for an issue to arise is substantially higher than five, ten or even fifteen years ago. The accelerating speed at which information is dispersed, the proliferation of additional media and new channels, and the dynamics of the business world and consumer marketplace that demand realtime diagnostics, mean that companies need both a pragmatic and prepared approach to crises.
Companies cannot simply sweep a crisis under the carpet. A mediasavvy and informationloaded customer base means that companies are expected to be accountable. In addition, a companys ability to bypass transparency has been substantially reduced by technology and open access to data.