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Companies need to do a better job with crisis management

Joe Mont | July 9, 2018

When it comes to crisis management, many companies suffer from the hubris that comes with overconfidence.

That is the message and warning from Deloitte in a recently released crisis management survey.

Sixty percent of crisis management leaders believe that organizations face more crises today than they did 10 years ago, the survey found, but confidence in crisis management capabilities often does not align with their actual level of preparedness.

The study, which builds off similar research in 2015, surveyed more than 500 senior crisis management, business continuity, and risk executives.

The research uncovered dramatic gaps between a company’s confidence that it can respond to crises and its level of preparedness. The gap becomes even more evident when evaluating whether organizations have conducted simulation exercises to test their preparedness.

Nearly 90 percent of respondents are confident in their organization’s ability to deal with a...

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