How a crisis in one company becomes a crisis in yours

If you’re yet to experience a crisis in your business, it’s probably only a matter of time. It’s a phenomenon that afflicts a majority of organisations, usually once every few years.

If you’re lucky, it’ll be a crisis relatively easy to overcome. A slump in sales, for example, conquered by a clever marketing strategy, or an IT breakdown fixed by an urgent upgrade. If you’re less fortunate, the crisis could be debilitating. A natural disaster, for instance, or the accidental contamination of your products, thereby poisoning your customers.

Whatever the crisis, one thing’s a given: it’s contagious.

There are multiple recent cases that demonstrate this to be true. One is the worldwide movement against acts of sexual harassment, which began in the entertainment industry but has since spread to many other sectors. Another is wage theft, or at least dodgy payroll practices, which have spread from franchise to franchise. A further example is the questionable ethical standard of bankers and brokers breaking wallets and hearts, in finance firm after finance firm after finance firm.

So yeah, crisis contagion is a real danger that could afflict your business sooner than you expect. Read more

James Adonis - Brisbane Times - 23 Mar 2018


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