"What do Marriott, Peloton, and Major League Baseball (MLB) have in common? Each has recently navigated a major crisis in the court of public opinion. Marriott's licensing agreement termination with Sonder left guests stranded and fuming mid-stay. Peloton announced its second product recall in just two years. And the MLB is the latest major sports organization whose players have been swept up in sports betting scandals."
"Despite this inevitability, less than half of U.S. companies have a formal crisis plan in place according to a 2023 report by Forbes. I see it in my workshops all the time. Fewer than a fourth of the countless leaders I've worked with have a dedicated crisis plan or team in place to help them navigate a crisis. Whether they are consciously kicking the can of crisis preparedness down the road or simply don't know where to start,"
Major brands and smaller companies alike face frequent public crises, with examples including Marriott guests stranded after a licensing termination, Peloton product recalls, and MLB betting scandals. Crisis can strike any organization and can shatter reputations, end careers, and cripple revenue rapidly. Many U.S. companies lack formal crisis plans, and fewer than a fourth of leaders have dedicated crisis teams. Preparing a crisis plan provides a roadmap for response and reduces emergency costs. Planning requires leadership commitment and resources. Four actionable steps are recommended to ensure organizations are not caught off guard when crisis occurs.
Read at Fast Company
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