When a crisis occurs, it is paramount that organizations offer affected parties clear guidance on how to mitigate the many related risks. Surprisingly, the Institute for Crisis Management reports that only about half of organizations worldwide have a crisis plan in place. For those that have taken the time to develop a plan, they must be executed swiftly and strategically because the longer it takes to communicate specific directions, the more likely it is that a situation could escalate. Also, the longer it takes to address a crisis, the longer it will take to end it. This could mean more delays, and more lost revenue, before business can resume.
No industry is immune to a crisis. According to The Institute for Crisis Management’s 2015 Annual Crisis Report, the 10 most crisis-prone industries are food, energy, automotive manufacturing, transportation, banking, insurance & financial services, education, government agencies, pharmaceuticals, and healthcare.