When the Going Gets Tough - Crisis Management

WHAT IS A CRISIS?

A crisis can happen to anyone at any time, the key is to be prepared. A crisis is often defined as a situation beyond the scope of everyday business which threatens the reputation, continued operation or safety of any individual, company or organisation. These can be catastrophic incidents which suddenly erupt or they can be "slow burners". In the mining and minerals sector these could range from catastrophes affecting the environment or human life to interventions by a number of different regulatory authorities. Even key supplier failure or industrial action can represent a major crisis. During such incidents, natural reactions can lead to confusion and fear. If mishandled the consequences can be devastating including sustained negative media coverage and brand damage, the loss of customer and investor confidence as well as the potential for criminal charges against senior management and massive fines.