Beleaguered Boeing is in the middle of a crisis which is validating Warren Buffett’s analysis of a misjudged crisis response: “It takes twenty years to build a reputation and five minutes to ruin it.”
Whilst crisis management planning provides a foundation upon which to protect your reputation, it is the reality of what you do when a crisis breaks that determines the extent of the damage to your business and reputation.
In this video blog, Jonathan Hemus counts the human, financial, legal and reputational cost of a mishandled crisis: