So many companies run their operations without a business crisis management plan in place — about 51 percent to be precise. There’s something powerful in the adage that an ounce of prevention is worth a pound of cure. Nowhere is this sentiment more apt than within the context of crisis prevention in the business world. In many cases, companies that would have otherwise flourished have folded under the pressures of extenuating circumstances they could have weathered with the foresight of a strong crisis prevention plan.
Giving yourself a well-conceived plan isn’t as complicated or daunting as you might assume, but it’s helpful to have an experienced outside eye take a look at your setup and walk you through the considerations that may not be at the forefront of your mind. Bishop and Fields specializes in helping to see you through the key steps of these preventative measures.
Conducting a Thorough Risk Assessment
We help you ask yourself: what are the potential casualties that would be a setback to our business as a whole, or one of our key functions? Bishop and Fields will work with your stakeholders, leadership, and the people in your company who play the most active role in crisis response. You will collectively acquire a very real sense of security in acknowledging vulnerabilities and identifying what factors that would most impact your organization in the event of a major crisis. We look at everything from public relations issues, social media missteps, product recalls, cyberattacks, issues in the workplace, market instability, and natural disasters.
Creating a Business Impact Analysis
Your Business Impact Analysis or BIA, is the formal preventative report Bishop and Fields helps you to produce. The BIA looks closely at both the minute and far-reaching consequences of issues that may arise. We details the worse case scenarios related to:
- Customer dissatisfaction
- Unfavorable brand perception
- Lost or delayed revenue
- Increased expenses
- Regulatory fines
Above all, Bishop and Fields wants to create a highly usable BIA that serves as a concrete tool for helping your organization take into account the myriad disaster possibilities — while comprehending the best ways to combat or remedy them.
Looking at Contingencies
After cultivating a clear-eyed awareness of various threats or issues, Bishop and Fields can next help you brainstorm and specify appropriate actions to mitigate these risks and lessen their impact. Even for circumstances far outside of your control, the actions you take can make the difference between a downturn that lasts a few weeks or months, or one that sets you back many years. We pinpoint the best way to resolve particular issues, examine what these steps would entail, identify resources you’ll need, and formulate guidance for the role your employees will play.
Creating the Plan
Bishop and Fields works to keep all relevant parties in the loop as we build and hone a tailored plan your company can turn to in a time of crisis. This is where your department heads can contribute valuable insights into issues you may not be aware of from your position. Together, we can also elect to consult with outside figures like contractors or partners who can help you better understand their own side of your operation.
We always strive to keep an eye on compliance. In crisis situations, it can be difficult to continue to uphold all the regulatory standards you’re required to abide by — but this is where these regulations are more important than ever. Keeping yourself in good standing with your customers and respective government agencies will help you get yourself more quickly out of particular predicaments.
Communicating the Plan
Once we’ve mapped out a careful, collaborative plan, we want to bring all of your team up to speed on the measures that are in place. This instills greater confidence and peace of mind among your team. Employees appreciate knowing that these considerations are underway. This plan can also function as an informal training. With crisis issues fresh in their mind, as they develop an understanding of the best way to respond, they are more apt to remember protocols in moments of duress and experience reduced anxiety should circumstances take a turn. A crisis response plan that is carefully formulated and then fully understood goes a long way toward fortifying your organization from the inside out. You might not be totally invincible — but you’ll be as close to it as possible.
