The crises that are decimating companies are overwhelmingly smoldering issues that if left unchecked, turn into the kind of headline-grabbing crises that can bring an organization to its knees.
DENVER (PRWEB) April 18, 2018
“That won’t happen to our company!” “At the Institute for Crisis Management (ICM), we find that management denial is the most common reason organizations have for not being prepared for the inevitable,” said Deborah Hileman, SCMP, President and CEO. “The crises that are decimating companies are overwhelmingly smoldering issues that if left unchecked, turn into the kinds of headline-grabbing crises that end careers, tank financial performance and bring an organization to its knees. Once again in 2017, the vast majority of the crises we tracked, 71%, were smoldering problems that could have been prevented or mitigated had management addressed them sooner.”
The 2017 ICM Annual Crisis Report is a compilation of news and trends and the identification of those industries that were most prone to crisis during the year. Leaders can gain valuable insight on the impact crises have on the organization, the economy and stakeholders. According to the report, the top crisis category in 2017 again was mismanagement, followed by discrimination, white collar crime, whistleblowers, consumer activism, catastrophes and environmental damage.
The year’s most crisis-prone industries were banking and financial services, technology, automotive, transportation, pharmaceuticals, food, health care, manufacturing and government agencies.
“Unfortunately, increasing numbers of crises stories in the news tell us that organizations appear no better prepared for crisis than a year ago. The top crisis categories and crisis-prone industries tend to remain fairly consistent from year to year,” she said. Hileman urges leaders to invest in comprehensive crisis communication planning and crisis management training programs to prepare, prevent and mitigate the kinds of crises that impact an organization’s reputation, brand, business and financial performance.
Founded in 1990, the Institute for Crisis Management was one of the first consulting firms in the U.S. to specialize exclusively in crisis management. ICM’s planning, training and consulting services help leaders and organizations through all phases of a crisis, from assessing risks and preparing for them; containing a crisis and mitigating damage with effective communications, learning from the event and seizing opportunities that arise from the crisis.
Visit the ICM website at https://crisisconsultant.com for a free downloadable copy of the report, and to register for an upcoming Crisis Communication Course and Media Training, scheduled for May 15-17 in Louisville, Ky., and August 14-16 in Denver, Colo.
Deborah Hileman, SCMP
Institute for Crisis Management
+1 (888) 708-8351