Archive for crisismanagement SmartBlogs
Karen B. Peetz, president of BNY Mellon, is no stranger to crises of confidence. She served as a member of Penn State’s Board of Trustees and later as the board’s chairwoman when the university had to deal with the child sex abuse scandal of its storied football team led by longtime coach Joe Paterno. “Somebody had to step up and say we accept responsibility,” she told attendees of the SIFMA Annual Meeting Tuesday.[…] Continue Reading »
It’s unlikely that you’ll ever have to apologize for a debacle that’s anything like the Affordable Care Act’s glitch-glutted computer-system rollout. But looking at the way President Barack Obama has responded can provide valuable lessons for whenever you might fail to meet the expectations of your boss, your staff, a valued customer or any other party. Here’s how you can lessen the fallout from a fiasco.[…] Continue Reading »
It was every CEO’s worst nightmare. Seven customers died in 1982 after taking the company’s most popular and profitable product. Instead of getting relief from common colds or a headache, they were given a death sentence. The extraordinary way that the CEO of Johnson & Johnson, James Burke, strategically utilized influence to respond to this major crisis made him a legend and the pharmaceutical giant one of the most respected companies in the world.[…] Continue Reading »
In 1998, a 35-foot boat called the AFR Midnight Rambler accomplished an amazing feat — winning one of the toughest ocean races in the world. The Sydney to Hobart is demanding every year, but in 1998, an unexpected “weather bomb” hit the fleet, creating 80-foot waves and 100-mile-per-hour winds.
While bigger, better-equipped boats tried to maneuver around the storm, the crew of the AFR Midnight Rambler chose to head directly into its path and ultimately won the coveted Tattersall’s Cup — the smallest boat to win in 10 years.[…] Continue Reading »
Tony Hayward, then CEO of BP, told the media in 2010 that he wanted his life back. He got it, but not in the way he intended. His quote was part of an ineffective attempt to show he cared about the consequences of the Deepwater Horizon rig explosion.