Expect the Unexpected: What Boards can do to Plan for Crises

As a standard precaution, boards should take steps to handle potential crises before one arises. This is particularly so in light of the increasing risk of cybercrime and privacy breaches, and the broader impact of negative social media attention faced by all companies for a variety of reasons today.

According to a recent article in the Harvard Law School Forum of Corporate Governance and Financial Regulation, 65% of CEOs say that their companies have experienced a crisis in the past three years. In the article, Paula Loop discusses how boards can adequately prepare for a potential crisis in order to minimize any negative impact to a company's operations, efficiency and reputation.