Do you Have Crisis Capital?
Organisations that have an ability to learn from past mistakes, anticipate and mitigate threats often do better in coming out stronger from a crisis.
On the other hand, organisations that are either slow, or unwilling to learn, prepare or respond effectively to an incident, usually go down with a crisis.
I believe it has to do with what I call “Crisis Capital.” So what the heck is Crisis Capitial, you may ask?
Crisis Capital refers to the tangible and intangible assets and advantages that accrue to an organisation before an incident or crisis breaks out.
It is derived from contemporary social, technical, cultural and geopolitical influences; collectively these advantages come from both internal and external sources.
Organisations that have mastered the art of wielding crisis capital are the ones that know how to mobilise their people to respond.
Elements of Crisis Capital Resources:
Private public partnerships
Business Continuity plans
Emergency Management plans
Trained fire teams
Trained crisis teams
Incident Command tools