QUESTION: Why would I prepare for a potential crisis? It may never come, or it might be something completely different than we thought.
ANSWER: Companies should prepare for a crisis to minimize the impact of unexpected events, such as natural disasters, accidents, economic downturns, or public health emergencies, on their operations, reputation, and financial stability.
By having contingency plans and resources in place, companies can respond quickly and effectively to a crisis, reducing the risk of damage to their brand and reputation and increasing their chances of recovering quickly and efficiently.
This helps to protect the company’s employees, customers, and stakeholders and ensures that the company remains competitive in the long term.