Board Leadership for the Company in Crisis

by Suzanne Hopgood and Michael W. Tankersley

What will you do when your company undergoes a crisis? Most companies eventually undergo an emergency of some kind--and it is only wise for the board of directors to plan for it. Winner of the Burton Legal Writing Award from the Library of Congress, this handbook guides directors of corporate boards through planning that can save valuable time and minimize damage when trouble does arise. Five Reasons Your Board Should Plan for a Crisis 1. Decreasing the number of decisions that must be made in the early stages of a crisis helps avoid costly mistakes. 2.Many events that have led to massive losses in shareholder value have begun as manageable problems that escalated to disastrous proportions. 3. When a crisis begins, some actions proposed by management may have liability implications for the board. 4. Expert advisors--often critical to a successful crisis response--are not easy to find. Building relationships in advance can save time and money. 5. The exercise of thinking through your company's risk factors and planning for a crisis response can prevent the crisis from actually happening.

Paperback

Published October 1, 2005