Partners Stephen Giove and Robert Treuhold and of counsel Mark Kessel published an article titled “Taking the Cry out of Crisis,” published by Bloomberg BNA’s Corporate Law & Accountability Report on July 17.
In this article, the authors discuss steps companies should take to mitigate the negative and potentially lingering consequences of crisis situations. These steps include establishing a crisis management team and planning process, identifying potential crisis situations and creating an effective crisis communication strategy.
“Crisis management planning is like insurance with a bulk of the premiums being paid with board and management time,” the authors say. “The payoff is not only a well-handled crisis but also a greater ability to maintain focus on running the business during the pendency of a crisis,” they add.