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Crisis menagement

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by

Kamil Sliwowski

on 16 April 2010

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Transcript of Crisis menagement

Crisis Menagement Konrad Konik What are we going to talk about? Importance of proper Crisis Management

What not to do when it all goes wrong?
(case 1: Snow Brand Milk Products Co.)

How to behave in critical situations?
(case 2: Johnson&Johnson)

Putting it into action Crisis come in many faces.. Strikes Layoffs
Product recalls
Allegations of misconduct
And so on... ..What is more..
Crisis can strike any company at any time and hit when a
company least expect it
pose a serious threat to companies:
-have potential to damage the reputation of the company
-can cause financial losses CC BY-SA http://www.flickr.com/photos/rcktfld/
New field of management
Identifying the real nature of a current crisis
Intervening to minimize damage
Re-establishing publics' credibility
Recoverin What is Crisis Management? CC BY-NC-SA http://www.flickr.com/photos/kronick Why is it so important? Once crisis occurs, the company is a target for the media
Plan of dealing with troubles in order to react fastly
Losses within both: image and business areas of an organization
CM helps to recover any damage to public image CC BY http://www.flickr.com/photos/daquellamanera/ Companies in crisis -
what NOT to do when it all goes wrong… Snow Brand
Milk Products Co., Ltd. What happened? Food poisoning after consumption of milk or related products
15,000 people affected
staphylococcus aureus discovered in a dirty valve
appalling hygiene standards
downplaying the incident concern for reputation and standing
lack of sympathy for the victims
an attempt to limit the extent of the product recall
attempt to cover up information about the full nature of the incident What did the company do? Companies in crisis -
What to do when it all goes wrong? Tylenol
leading pain-killer to be laced with cyanide poison by unknown
individuals
7 people died
Enormous panic about how widespread the contamination might be
The company's market value fell by $1bn
The second tampering incident in 1986 What happened?
recalling Tylenol from every outlet ($100 million charge against earnings)
tamperproof pacaging What did the company do?
Quick and appropriate action
Openness
Not waiting for evidence to see whether the contamination might be more widespread
Preparation to bear the short term cost in the name of
consumer safety Factors of success
70% of market share
- recovered in 5 months
Preserving the long term value of the brand
The company gained a the trust of customers
Some consumers switched from other painkillers to Tylenol!!! Effects The way is... Establish a Crisis Management Team
Develop a Crisis Response Plan
Update the Crisis Response Plan
Practice it regularly prevention preparation response recovery learning
Perception is REALITY
How well you respond depends on how well you are prepared… Conclusion? Are You prepared NOW?
Thank You for
attention!
Full transcript