IPRA: Always-on risk management

WE in the News

8/19/2019

SOURCE: https://www.ipra.org/news/itle/itl-333-always-on-risk-management-lets-talk-resilience-not-crisis/

ITL #333: Always-on risk management: let’s talk resilience not crisis

Managing risk in a world of increasing motion and consumer expectation calls for a fresh approach to issues and crisis management.

Rebecca WilsonIPRA, August 19, 2019

Less than a decade ago, issues and crisis management was something to be summoned on an emergency basis. Like firefighters, the issues management team would screech in to douse the blaze before reverting to a business as usual mentality. Fast forward to today and the picture couldn’t be more different.

The ever-changing realities of a world in motion and the increased speed at which information spreads means that issues management too has changed. Or if it hasn’t, it should.

Customer expectations are exponentially increasing, competition is greater, and technology is driving daily change across industries, business and products. Throw in the power of digital communication to amplify even a lone voice with unprecedented magnitude, and what was once rated as a low-level issue can morph into a full-blown crisis — at breakneck speed.

WE’s 2018 proprietary Brands in Motion study showed that nine out of 10 people would not hesitate to publicly shame a brand they support if it steps out of line — and social media has given them the platform to do so. When it comes to the chances of a business running into trouble, the saying ‘not if but when’ has never been truer.

 

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