The Ukraine crisis is affecting organizations of all types doing business or with operations and employees not just in Ukraine but also in Russia, Belarus and countries bordering that area. The crisis is just one of the many types of risks organizations face today. While some risks can be planned for and mitigated, other hard-to-predict events require organizations to be better prepared for the unexpected. Boards and management teams must step up their crisis readiness to better lead their organizations.
Crisis response time is critical for an organization. The speed with which bad news can spread that directly affects an organization has been reduced to minutes.
There are many types of crisis events that an organization might experience a crisis—and there’s rarely a perfect response.
For the organization to respond quickly, a crisis response plan has to be in place, which includes proper training of the crisis team and the right leadership to manage the crisis effectively.