{"id":8210,"date":"2023-08-05T16:54:24","date_gmt":"2023-08-05T16:54:24","guid":{"rendered":"https:\/\/mysourcefunding.com\/leadership\/why-the-age-and-size-of-companies-matter-when-preparing-crisis-plans\/"},"modified":"2023-08-05T16:54:25","modified_gmt":"2023-08-05T16:54:25","slug":"why-the-age-and-size-of-companies-matter-when-preparing-crisis-plans","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=8210","title":{"rendered":"Why The Age And Size Of Companies Matter When Preparing Crisis Plans"},"content":{"rendered":"<div>\n<p>Customizing crisis management plans to reflect the age and size of businesses can help ensure the effectiveness and relevancy of those plans.<\/p>\n<p>Organizations that think generic off-the-shelf crisis plans are all they will need to navigate a crisis can be sorely tested when the unexpected happens. As they scramble to figure out how to respond to the crisis, the risks to their image, reputation and bottom line can increase by the minute.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Agility<\/h2>\n<p>\u201cAt General Electric, where I started and grew my career, public issues were inevitable due to the scale and exposure of the business. We had a system in place which allowed us to quickly evaluate risk, activate a process, align stakeholders and take predefined actions,\u201d Jon Bostock, president and CEO of Leaf Home, a home products and services company, said via email.<\/p>\n<p>\u201cThis type of business decision-making matrix doesn\u2019t<strong> <\/strong>exist within most smaller businesses, primarily because the organizations don\u2019t have the need, haven\u2019t developed the discipline or don\u2019t have the capabilities,\u201d he noted.<\/p>\n<p>\u201cFor leaders at less mature organizations, it\u2019s critical to identify the types of crises they could face and then develop the framework by which risk will be assessed,\u201d Bostock concluded.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Reputation<\/h2>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<p>\u201cDoes the age of a company come into play? Absolutely. Young companies tend to think with the bravado of a 16-year-old with a new driver\u2019s license. They believe nothing can go wrong,\u201d Susan Stoga, principal at Carson Stoga Communications, said via email.<\/p>\n<p>\u201cOften, crisis plans are on the to-do list but not on the priority list. Instead, young company leaders would be best served by seeing a crisis plan as insurance or risk management against the reputation of the company or brand.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Risks<\/h2>\n<p>\u201cThe most efficient way for a young company to prepare its crisis plan is to consider all the potential risks they may [encounter]\u2026 and evaluate every potential issue against its own risk criteria. Doing so will allow the company to be prepared to act and usually resolve potential crises before damage occurs,\u201d Stoga advised.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Priorities<\/h2>\n<p><em>\u201c<\/em>For newer, smaller businesses, crisis management plans should prioritize agility and speed, leveraging their flexible structure for rapid decision-making and quick course corrections,\u201d Lisa McStay, chief operating officer at Continuity2, a business continuity and resilience company, said via email.<\/p>\n<p><em>\u201c<\/em>Large, older businesses should focus on comprehensive risk assessment and clear communication channels within their complex structures, ensuring robustness and efficiency in their crisis responses,\u201d she counseled.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Guidelines<\/h2>\n<p>\u201cTo effectively manage crises in larger companies, it\u2019s important to establish clear guidelines regarding decision-making processes,\u201d Avigail Lev, founder and director of Bay Area CBT Center, said via email.<\/p>\n<p>\u201cIdentifying who has the authority to make ultimate decisions and defining the hierarchy of responsibility can streamline the decision-making process and ensure swift actions when needed,\u201d she advised.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Getting It Right<\/h2>\n<p>\u201cGet the design of your crisis management plan right, and it will ensure a purposeful, well-organized way of working and provide critical resources enabling you to get on top of a situation quickly, whatever your company\u2019s size, age or sector,\u201d Jonathan Hemus, managing director and crisis management consultant at Insignia, observed via email.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><\/h2>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/edwardsegal\/2023\/08\/05\/why-the-age-and-size-of-companies-matter-when-preparing-crisis-plans\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Customizing crisis management plans to reflect the age and size of businesses can help ensure the effectiveness and relevancy of those plans. Organizations that think generic off-the-shelf crisis plans are all they will need to navigate a crisis can be sorely tested when the unexpected happens. As they scramble to figure out how to respond [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[76],"tags":[],"class_list":{"0":"post-8210","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-leadership"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why The Age And Size Of Companies Matter When Preparing Crisis Plans | Brandiary<\/title>\n<meta name=\"description\" content=\"Customizing crisis management plans to reflect the age and size of businesses can help ensure the effectiveness and relevancy of those plans.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mysourcefunding.com\/?p=8210\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why The Age And Size Of Companies Matter When Preparing Crisis Plans | Brandiary\" \/>\n<meta property=\"og:description\" content=\"Customizing crisis management plans to reflect the age and size of businesses can help ensure the effectiveness and relevancy of those plans.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mysourcefunding.com\/?p=8210\" \/>\n<meta property=\"og:site_name\" content=\"Brandiary\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-05T16:54:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-05T16:54:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/08\/1691254464_0x0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"899\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mysourcefunding.com\/?p=8210#article\",\"isPartOf\":{\"@id\":\"https:\/\/mysourcefunding.com\/?p=8210\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4\"},\"headline\":\"Why The Age And Size Of Companies Matter When Preparing Crisis Plans\",\"datePublished\":\"2023-08-05T16:54:24+00:00\",\"dateModified\":\"2023-08-05T16:54:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mysourcefunding.com\/?p=8210\"},\"wordCount\":540,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mysourcefunding.com\/#organization\"},\"articleSection\":[\"Leadership\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mysourcefunding.com\/?p=8210#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mysourcefunding.com\/?p=8210\",\"url\":\"https:\/\/mysourcefunding.com\/?p=8210\",\"name\":\"Why The Age And Size Of Companies Matter When Preparing Crisis Plans | Brandiary\",\"isPartOf\":{\"@id\":\"https:\/\/mysourcefunding.com\/#website\"},\"datePublished\":\"2023-08-05T16:54:24+00:00\",\"dateModified\":\"2023-08-05T16:54:25+00:00\",\"description\":\"Customizing crisis management plans to reflect the age and size of businesses can help ensure the effectiveness and relevancy of those plans.\",\"breadcrumb\":{\"@id\":\"https:\/\/mysourcefunding.com\/?p=8210#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/mysourcefunding.com\/?p=8210\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/mysourcefunding.com\/?p=8210#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/mysourcefunding.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why The Age And Size Of Companies Matter When Preparing Crisis Plans\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/mysourcefunding.com\/#website\",\"url\":\"https:\/\/mysourcefunding.com\/\",\"name\":\"Brandiary\",\"description\":\"Latest Business and Startup News and Updates\",\"publisher\":{\"@id\":\"https:\/\/mysourcefunding.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/mysourcefunding.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/mysourcefunding.com\/#organization\",\"name\":\"Brandiary\",\"url\":\"https:\/\/mysourcefunding.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png\",\"contentUrl\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png\",\"width\":381,\"height\":100,\"caption\":\"Brandiary\"},\"image\":{\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png\",\"contentUrl\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/mysourcefunding.com\"],\"url\":\"https:\/\/mysourcefunding.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why The Age And Size Of Companies Matter When Preparing Crisis Plans | Brandiary","description":"Customizing crisis management plans to reflect the age and size of businesses can help ensure the effectiveness and relevancy of those plans.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mysourcefunding.com\/?p=8210","og_locale":"en_US","og_type":"article","og_title":"Why The Age And Size Of Companies Matter When Preparing Crisis Plans | Brandiary","og_description":"Customizing crisis management plans to reflect the age and size of businesses can help ensure the effectiveness and relevancy of those plans.","og_url":"https:\/\/mysourcefunding.com\/?p=8210","og_site_name":"Brandiary","article_published_time":"2023-08-05T16:54:24+00:00","article_modified_time":"2023-08-05T16:54:25+00:00","og_image":[{"width":1200,"height":899,"url":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/08\/1691254464_0x0.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/mysourcefunding.com\/?p=8210#article","isPartOf":{"@id":"https:\/\/mysourcefunding.com\/?p=8210"},"author":{"name":"News Room","@id":"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4"},"headline":"Why The Age And Size Of Companies Matter When Preparing Crisis Plans","datePublished":"2023-08-05T16:54:24+00:00","dateModified":"2023-08-05T16:54:25+00:00","mainEntityOfPage":{"@id":"https:\/\/mysourcefunding.com\/?p=8210"},"wordCount":540,"commentCount":0,"publisher":{"@id":"https:\/\/mysourcefunding.com\/#organization"},"articleSection":["Leadership"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/mysourcefunding.com\/?p=8210#respond"]}]},{"@type":"WebPage","@id":"https:\/\/mysourcefunding.com\/?p=8210","url":"https:\/\/mysourcefunding.com\/?p=8210","name":"Why The Age And Size Of Companies Matter When Preparing Crisis Plans | Brandiary","isPartOf":{"@id":"https:\/\/mysourcefunding.com\/#website"},"datePublished":"2023-08-05T16:54:24+00:00","dateModified":"2023-08-05T16:54:25+00:00","description":"Customizing crisis management plans to reflect the age and size of businesses can help ensure the effectiveness and relevancy of those plans.","breadcrumb":{"@id":"https:\/\/mysourcefunding.com\/?p=8210#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mysourcefunding.com\/?p=8210"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/mysourcefunding.com\/?p=8210#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mysourcefunding.com\/"},{"@type":"ListItem","position":2,"name":"Why The Age And Size Of Companies Matter When Preparing Crisis Plans"}]},{"@type":"WebSite","@id":"https:\/\/mysourcefunding.com\/#website","url":"https:\/\/mysourcefunding.com\/","name":"Brandiary","description":"Latest Business and Startup News and Updates","publisher":{"@id":"https:\/\/mysourcefunding.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mysourcefunding.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/mysourcefunding.com\/#organization","name":"Brandiary","url":"https:\/\/mysourcefunding.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/","url":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png","contentUrl":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png","width":381,"height":100,"caption":"Brandiary"},"image":{"@id":"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mysourcefunding.com\/#\/schema\/person\/image\/","url":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png","contentUrl":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png","caption":"News Room"},"sameAs":["https:\/\/mysourcefunding.com"],"url":"https:\/\/mysourcefunding.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts\/8210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8210"}],"version-history":[{"count":1,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts\/8210\/revisions"}],"predecessor-version":[{"id":8212,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts\/8210\/revisions\/8212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/media\/8211"}],"wp:attachment":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}