During a Chief Executive’s tenure, the likelihood is that he or she will have to deal with a crisis. Acting quickly, decisively and effectively can increase the value of an orgnisation. A poor response might cause more damage than the crisis itself.

What can you do to manage this risk more effectively?

• Understand that the skills needed to manage a crisis are very different from those required to successfully run a business. During a crisis, rapid decisions will have to be made, often with limited available information. The executive team must recognize how to operate in this environment and develop the appropriate skills.
• Marsh will analyse the threats to your organisation and conduct a detailed assessment of what can trigger a crisis – for instance, a break down in the supply chain or problems with key products. We will devise a comprehensive business continuity management strategy, including specific plans to limit the impact of a crisis.
• Conduct tests and exercises to ensure that all those involved are trained in their role and the company is prepared to deal with a crisis and reduce its severity.
• Identify who in your organisation will speak directly to key stakeholders and the media.