August 1, 2019. By Ashley Agnew:
As a firm we constantly search for new learning opportunities. This includes not only formal continuing education, but also learning from our peers in our own and related industries. Several Centerpoint employees are members of learning exchange networking groups, including the Exit Planning Exchange, or XPX. I am an active member of XPX New England where I hold a seat on the Board of Directors as Marketing Chair. Recently, I had the pleasure of moderating an XPX NE event at Fox News titled “Print v. Perception: Crisis Communication in M&A”.
The panel was comprised of four experts in the fields of public relations, communications, and organizational behavior. Each shared their valuable insights regarding proper internal and external communication processes during a crisis situation, and the importance of having such procedures in place. Preparedness becomes even more valuable when amidst a business transaction such as a merger or acquisition because of the abundance of sensitive information and the many moving parts. Some key takeaways from the program included the following:
- “Crisis communication plans fail because companies think they can do it themselves. The definition of a crisis is when it exceeds your internal resources” –Linda Varrel, Broadreach Public Relations
- “Even when situations are handled in the best way possible, it takes a long time to repair reputation” –Janey Bishoff, Bishoff Communications
- “When we are under attack, we have a siege mentality and tend to attack people who are concerned. You need to make an honest effort to understand outside points of view” –Roger Bridgeman, Bridgeman Communications
- “Risk is everywhere and it is a reality. Is the leader capable to handle a crisis? Crisis is going to happen; prepare the leader” –Jeffrey Davis, Mage LLC
No matter where your business may lay in the business cycle, it is always at risk for a crisis. As many of the clients and professionals we work with are business owners, we thought it may be helpful to share the recording of the presentation. You may also click here for a highlight reel with some of the key points from the panel.