Crisis Management Key To Alleviate Business Uncertainty

SINGAPORE, 19 Aug 2010 - A *McKinsey Quarterly 2009 global survey in of 1653 respondents revealed that 47% of C-Level executives and Senior managers admitted to having feelings of General Business Uncertainty during an economic crisis. In addition, their sources of stress stemmed from their dissatisfaction with their performance during the crisis especially a lack of operating flexibility, repeated rounds of cost cutting, uncertainty about one’s job and explaining the company’s performance to investors. The survey findings suggest there was a lack of a proper crisis management plan in place or in the case of its existence it was perhaps not communicated to all individuals in the organisation.

For BCM Institute, all kinds of crisis require a proper crisis management approach. This requires the collaborative efforts of all departments, top to bottom and not just confined to the realm of the PR or Corporate Communication Department. Dr Goh, President of BCM Institute shared that, “Every disaster experience shows us how ordinary people have to rise to the challenges of a crisis, from securing the site of the incident and appraising the ground, to handling the media’s demands.” Crisis management is a silo-smashing exercise where all departments have to set the requirements for costs; the responsibilities and expectations for each role to ensure a unified effort to overcome the crisis and stabilise the event to ensure that the business can continue running efficiently. BCM Institute’s crisis management courses are conducted by a team of experienced PR and Crisis Management professionals. Courses include crisis communication essentials, the deployment of an Incident Command System and Emergency Response system and more details can be found here.

Moving ahead, the survey authors Kevin Lane, a principal in McKinsey’s Zurich office and Monica McGurk, a principal in the Atlanta McKinsey office concluded their survey findings by adding that organisations may need to complement their focus on cost cuts and productivity improvements with increased efforts to motivate the managers who are implementing crisis management steps which are critical to the long-term success of their businesses. Do you need help to put together a crisis management plan in line with your business continuity program? Call us at 6748 1528 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

*Source: McKinsey Quarterly Surveys 2009 https://www.mckinseyquarterly.com/Surveys/Leaders_in_the_crisis_McKinsey_Global_Survey_Results_2422?pagenum=6

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