Please help with the following problem.
You have just been hired as a risk management consultant for a Fortune 500 company. What specific crisis prevention strategies would you recommend to your client? Substantiate your response.© BrainMass Inc. brainmass.com December 15, 2020, 7:57 pm ad1c9bdddf
"But in a world where disgruntled employees and unhappy customers can trash you globally in the time it takes to dash off a nasty blog posting or upload a cell phone video, it's becoming much harder to manage reputation the old-fashioned way, by hiding behind lawyers and crisis-management consultants" (Murphy, 2010).
Preventive crisis management strategies reduce risks of potential lawsuits, the loss of brand reputation, the loss of market share, and enables better financial stability. In order to prevent crisis risk, the company must implement an effective ERM (enterprise risk management). Furthermore, to avoid potential legal and financial crisis, the company must ensure compliance with the mandatory Sarbanes Act of 2002 that regulates ...
This posting helps with crisis communication management. It discusses a situation where someone has been hired as a risk management consultant for a Fortune 500 company. It also discusses specific crises and prevention strategies that one would recommend to the client.