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Proactive crisis management: Expecting the unexpected

Mar 8, 2017

Risk is multi-faceted and a crisis can strike a business at any given moment. Mismanaging or neglecting risk can have widespread negative and costly financial, operational and reputational repercussions – not only for a business but for its key stakeholders as well.

For enterprises, having a crisis management plan in place to strategically respond to business critical situations is key to effectively anticipating and managing the potential fallout. As part of our Brief the Board series,  Osler partner Lawrence Ritchie, who specializes in crisis response and risk management, and Deloitte partner Alan Stewart provide resources that outline crisis management and communication strategies for proactively managing a crisis situation. In particular, these tools review

  • the key elements of a best-in-class crisis response plan
  • general counsel’s role and what the board needs when a crisis arises
  • key challenges and lessons learned when dealing with a crisis

Every enterprise will face a crisis sooner or later. These resources provide counsel with a framework to  prepare for the unexpected:

 

The essentials

  • Directors expect counsel to identify potential advisors before the company is in a crisis situation
  • Prepare and test a crisis response plan before crisis hits
  • Develop a culture of compliance and culture of preparedness

Access the PDF of TakeawaysReview the slide deck

 

 

 

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