With the Coronavirus outbreak has come increased global business and economic disruption and uncertainty. Analysis indicates that the COVID-19 outbreak will push down the full-year gross domestic product (GDP) globally from the 2.5% that was forecast in January 2020 to 0%. In this crisis management situation, companies are grappling with managing the impact of the outbreak on their ability to meet strategic goals and customer demands.The pace of technology is reaching a fever pitch, with new innovations, upgrades, and features emerging all the time. As technology evolves in countless ways, it’s vital that your crisis management plan evolves as well. Crisis management should be an essential part of every business organization. Having a plan for when worse comes to worst — and especially knowing how to communicate the right message to the right people at the right time — is critical for ensuring the wellbeing of your company, not to mention influencing how your brand appears to the outside world.For effective crisis management, companies need to have a plan for the three main phases of any crisis, and ways to ensure such a plan can be shared to all concerned. This latter part requires a focused approach when it comes ...
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