Effective leadership response to crisis

Abstract

Purpose This article offers guidelines for effective crisis response. Design/methodology/approach Its thesis is: whether an organization survives a crisis with its reputation, operations, and financial condition intact is determined less by the severity of the crisis than by the timeliness and effectiveness of the response Findings Companies with effective crisis response saw their stock price recover quickly, and remain above their pre‐crisis price thereafter, closing an average of seven percent above their pre‐crisis price one year after the crisis. Practical implications Offers do and don't prescriptions for managing a crisis. Originality/value A consultant recognized as an authority in his field shares his experience in effective crisis management.

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