Home > Risk > Are you ready to answer the call, when something goes wrong?

Are you ready to answer the call, when something goes wrong?

November 2, 2010 Leave a comment Go to comments

In the current issue of Directorship magazine, it was pointed out that management (and directors) may only have 5 minutes after an event before bloggers, tweeters, and the press start asking questions.

While it is necessary to appear in control and responsive, that doesn’t sound like much time to figure out what happened, let alone what the organization should do or what to tell the public.

I recommend reading an opinion piece in today’s Financial Times, then discussing the challenge with the executive leadership team and the board.

  • Is it clear who can talk to the media, the government or regulators, bloggers and tweeters, etc?
  • Are they adequately trained?
  • Do you have procedures so that these people are notified of events quickly enough?
  • Are you confident that you will have a message fast enough to preserve the organization’s reputation?
  • Are your processes for notifying the top management and board well-defined and known? Will they be able not only to provide direction but also answer any questions directed to them?

Auditors: have you addressed this area? It could represent a  major risk to the reputation of the business, potentially affecting customer demand, intrusion  by regulators, etc.

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