Crisis Management — the First 48hrs
When a crisis erupts, the first 24 to 48 hours are critical for a company. The steps taken in those first hours may set the tone for how the crisis unfolds and is eventually resolved. Crises may arise in many possible ways: an arrest of a C-suite executive, law enforcement raids, allegations of serious misconduct at company events, viral media stories or social media posts, cyberattacks, or natural disasters. While each type of crisis requires and warrants special considerations, there are a series of questions to address at the beginning that are universal to all crises.
Olivia Radin and Kimberly Zelnick, partners at the global law firm Freshfields, explain the do’s and don’ts of crisis management. They discuss how to approach a crisis from day one and the key issues to consider, including identifying the stakeholders, setting a plan for leadership, preserving documents, preparing mitigation measures, and making statements to the public and regulatory authorities.
