Crisis Communication Is Worth It

There is more than one case of “successful” communication mismanagement, where large, world renowned companies lost billions and billions of their market value in seconds. All the trust, all the hard built respect on the market and millions invested into that “goodwill” capital, vanished with one single communication flop. It does not matter if the scope of the communication crisis concerns local, regional or international level. The consequences of not having communication experts on board are much higher than the costs of a single public debacle. It is simply not worth the risk. Though it is clear that public relations are a crucial point in building your reputation on the market, there are still many “old school” capitalists thinking, that the CEO of the company should also be a communication expert. If not sooner than by the first major crisis, stakeholders become aware that the CEO is there to manage the company, perform according to the wishes of the owners, while communication crisis are too complex to be handled by one single man like CEO. It is like if the CEO would be called to step in when the company server breaks down. There are experts who had years of training to cope those issues and that is why crisis should always be on board when the company steers into dark waters of issue management.