Institute for Crisis Management Releases 2018 Annual Crisis Report
DENVER, June 5, 2019 /PRNewswire-PRWeb/ -- 'We don't need a crisis plan, that will never happen to us.' "At the Institute for Crisis Management (ICM), we find that management denial is the most common reason organizations are unprepared for the inevitable," said Deborah Hileman, SCMP, President and CEO.
The 2018 ICM Annual Crisis Report is a compilation of news and trends and listing of those industries that were most prone to crisis during the year. Leaders can gain valuable insight on the impact crises have on the organization, the industry and its stakeholders. According to the report, the top crisis category in 2018 was (again) mismanagement, followed by discrimination, cybercrime, sexual harassment and labor disputes.
"The crises that are decimating companies are overwhelmingly a variety of smoldering issues that, if left unchecked, turn into the kinds of headline-grabbing crises that end executive careers, tank financial performance and bring an organization to its knees. Once again in 2018, the majority of the 792,336 crises stories we tracked, 67%, were smoldering problems that could have been prevented or mitigated had management addressed them sooner."
The year's most crisis-prone industries were banking and financial services, technology, education, transportation, pharmaceuticals, food, health care, consumer products and media and entertainment.
"Unfortunately, increasing numbers of crises stories in the news tell us that organizations appear no better prepared for crisis than a year ago. Boards of directors are still largely disengaged with crisis issues and executive managers fail to lead badly-needed crisis planning and preparedness efforts," she said. Hileman urges leaders to invest in comprehensive crisis communication planning and crisis management training programs to prepare, prevent and mitigate the kinds of crises that impact an organization's reputation, brand, business and financial performance.
About ICM
Founded in 1990, the Institute for Crisis Management was one of the first consulting firms in the U.S. to specialize exclusively in crisis management. ICM's planning, training and consulting services help leaders and organizations through all phases of a crisis, from assessing risks and preparing for them, containing a crisis and mitigating damage with effective communications, learning from the event and seizing opportunities that arise from the crisis.
Visit the ICM website at https://crisisconsultant.com for a free download of the report and to register for an upcoming Crisis Communication Course and Media Training, scheduled for August 13-15 in Louisville, Ky., and November 5-7 in Denver, Colo.
SOURCE Institute for Crisis Management
