Corporate crisis governance practices are a hindrance rather than a help

Business leaders encouraged to review crisis management processes and practices
 
 
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Crisis Management

Industry:
Business

Location:
Peterborough - Cambridgeshire - England

Subject:
Reports

PETERBOROUGH, U.K. - Sept. 2, 2019 - PRLog -- Many corporate governance practices for handling crises, complex issues and severe challenges are a hindrance rather than a help, according to Adaptation chairman Prof Colin Coulson-Thomas speaking to business leaders in New Delhi: "They are not fit for purpose. Directors may need to react quickly to a hack or a natural or man-made disaster, while a challenge such as climate change requires short, medium and longer-term collective action. During windows of opportunity responses are often inadequate."

The author of Developing Directors finds: "Directors should expect challenges and difficult situations. However, crises can make particular demands upon them. Some board members may be better equipped to handle them than others. When data breaches occur it may take time to assess whether a loss of information is inconvenient or catastrophic, yet breaking news occurs 24/7. Inappropriate responses can increase the negative impacts of crises."

"Unlike situations that might suddenly and unexpectedly arise, certain threats such as climate change have been long predicted. They need to be addressed by a combination of activities by multiple parties over a longer-time period than past emergencies that could be quickly tackled by crisis management teams. They require more than business as usual responses, shared leadership and collaboration across national borders and other boundaries."

"Many boards need to review their strategies, policies and practices for managing existential risks and crises, and review their sources of crisis counsel. They should take individual and collective steps to monitor related trends, assess and mitigate their impacts, address their root causes and seize related opportunities. More directors should be appointed who have been tried and tested in crisis situations. Director development should include crisis case study reviews of options, actions taken and their consequences for different stakeholders."

The Adaptation chairman and author of Developing Directors and Winning Companies; Winning People was speaking in New Delhi at the Annual Directors Conclave and 29th IOD Annual Day of India's Institute of Directors. He wrote the event's theme paper on the Future of Boards which was included in the conclave's souvenir book released and launched at the event.

Prof. (Dr) Colin Coulson-Thomas, chairman of Adaptation and leader of the winning companies; winning people investigation, has helped directors in over 40 countries to improve director, board and corporate performance and been a vision holder of successful transformation programmes. He has spoken at over 300 international events and details of his most recent books and reports on developing more effective boardroom teams, critical success factors for key corporate activities and quicker, more affordable and less disruptive ways of increasing performance can be found on: https://www.adaptation.ltd/

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Adaptation / Colin Coulson-Thomas
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Tags:Crisis Management
Industry:Business
Location:Peterborough - Cambridgeshire - England
Subject:Reports
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