History of Credit Unions - NEW
When crises arise
Most crises are within the following categories:
∑ Product: bad press, recall
∑ Personnel: labor conflict, racial/sexual suits
∑ Financial: sales failure, theft
∑ Natural disaster: floods, earthquakes
∑ Legal: litigation, regulatory action
∑ Violence: terrorism, sabotage, kidnapping, workplace acts
∑ Accidents: employee, customer, executives.
Crisis Management Stages
Before Ė focus on readiness, do your homework, anticipate, diagnose, develop a plan, and train your staff.
During Ė get back to normal a quickly as possible through intensive coordination, communication, and monitoring.
After Ė Assess damage: Plan for the future: Learn from your mistakes, and refocus.
Follow these rules when deciding whether the disclosure of bad news is needed:
∑ The more you want to withhold a piece of information, the more likely it is you need to disclose it.
∑ The more people will care, the more important it is to disclose.
∑ The more time it takes for you to make all the bad news public and fix the problem, the more youíll ultimately have to pay to put the problem behind you.
∑ The more times the news media pull information from you that keeps the story alive for another news cycle, the more damage to your reputation.
When disclosing the information remember to:
∑ Show concern
∑ Stay calm and courteous at all times
∑ Set up a communications center
∑ Use your Web site to disseminate information quickly
∑ Monitor news coverage
∑ Use laymanís terminology
∑ Communicate with employees directly
∑ Never say, ďNo commentĒ
∑ Donít speculate; never say more than you know or can confirm
∑ Donít discuss cause or fault
∑ Remember that media lives for a crisis
∑ Direct legal inquiries to legal counsel
Review how-to sections:
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