Topic: Crisis Defense
Evaluating the real cost of a brand crisis
Brand catastrophes—those memorable, monumental events that incur tens of millions to billions of dollars in combined costs and losses—have drawn most of the attention of risk and resiliency experts in the global business community. Until recently.
Your Brand Is at Risk and Everyone Is Watching
Whether your brand is at risk is not a question of “if”, but “when”. The corporate risk landscape has become a free-for-all where actors originate or accelerate their agendas online through digital chatter to manipulate consumer activism, socio-political divisiveness, social justice action and protests, market disruption and volatility, environmental crises, and the fallout of the global pandemic.
Risk Readiness Now Requires an Actor-Based Intelligence Approach
When the World Economic Forum (WEF) came out with their Global Risks Report 2021 earlier this year, it highlighted the need for a greater focus on improving risk readiness as a way for organizations to build resilience. In their view, many organizations’ approaches to risk mitigation looked “increasingly outdated,” adding that “in a world of accelerating challenges, static annual documents need to make room for continuous horizon-scanning for early indicators of change and associated timelines for action.”
Risk and Resilience: The Duality of Digital Chatter
Like two sides of the same coin, digital chatter is a vehicle for certain groups to intentionally or unintentionally harm a brand, and also a vital source of intelligence for communications leaders to stay ahead of issues and mitigate crises.
Today’s Risk Forecast: Uncertainty With a Chance of Resiliency
Don’t like the weather? In some places they’ll tell you to wait five minutes and it’ll change. The risk landscape isn’t all that different. It changes constantly and the rising frequency of unknown risks makes it difficult to predict when a storm will hit.
Protect Against Short Squeezes and Other Coordinated Efforts
In a move that has now made U.S. national news and gotten the attention of Congress, WallStreetBets, an online agenda-driven group, coordinated purchases that drove up the price of GameStop stock, some 2,000% in less than 30 days. They didn’t stop there, though. They also short squeezed AMC, BlackBerry, and Tootsie Roll, among others.
The New Enterprise Mindset: Continuous Risk and Crisis Readiness
Who could have anticipated 2020? Surely the implausible confluence of environmental, social, and governance, plus technology (ESG+T) risks exacerbated by a global pandemic could never have been foreseen.
Sports Leagues Continue Their Off-the-Field Fight Against Online Hate
Sports exert a powerful influence on life, imparting values such as teamwork, perseverance, and fair play for those who participate and spectate. Pro sports have continued to step up and shine a bright light on the ongoing international movement for anti-racism and social justice.
Agile Communicators Shift from Crisis Preparedness to Crisis Readiness
Show of hands. Who had a crisis management plan in place for dealing with every risk event that had the potential to pummel your enterprise in 2020?
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