FirstDibs by Amor Maclang • Published 02 September 2019
Corporate execs share why risk and crisis management makes the difference
When a problem comes up, what is your usual reaction? Is it surprise, fear, or desperation? Or is it immediately activating Plan A, Plan, B, down to Plan X to manage the situation?
Every company, every brand is vulnerable to risk. A simple misunderstood tweet or an incident in company operations can put a brand knee-deep in crisis. This is the cost of being in the products and services industries. The difference is in being truly prepared—strategically, mentally, emotionally, psychologically—and knowing the weight and importance of this preparation early on.
We asked industry leaders of leading corporations on their take on crisis planning, and it became clear. Leaders champion for having a plan rather than leaving it to chance.
“Dealing with an ever-changing social, business, and political landscape is all about readiness than reactivity. Research shows that 70% of projects are delayed due to non-technical risks—more than commercial or technical risks to operations. We should effectively sense and assess these risks and make them our leaders’ priorities. Risk and crisis management ensures that we have ample focus and resources and not be blindsided by any developments.”
External Relations Manager
Shell Philippines Exploration, BV (SPEX)
“We take to heart risk, issues, and crisis management because we are in the business of trust. As a company whose vision is to change the way people feel about insurance, FWD emphasizes the need for transparency, authenticity, and accountability for our actions. This starts by being proactively cognizant of the risk and issues around us.”
Head of Marketing
FWD Life Philippines
“Most companies only think about crisis management when a crisis happens—that’s their first mistake. Risk issues and crisis management is a daily concern and companies need to be prepared for this from day one, not just when it happens.”
Head of Regulatory and Public Affairs
“With so much uncertainty in the business landscape, we should always be ready to mitigate any crisis that comes our way. Part of good management and governance is identifying possible risks and being prepared to handle them head-on when needed. If a company operates without taking risks into consideration, they will most likely lose their direction and focus once a crisis hits. In Shell, we take crisis management seriously. This is how we ensure that the company is prepared for any and all eventuality.”
Vice President – External and Government Relations
Pilipinas Shell Petroleum Corporation