Crisis Management

Only available on StudyMode
  • Download(s) : 494
  • Published : December 10, 2011
Open Document
Text Preview
|MKT 351 TERM PAPER | |Crisis Management | | |

|Maricely Estevez | |[June 13, 2011] |

Table of Contents

Crisis Management2

Planning in a Crisis2

Company Overview: Exxon Mobil3

Crisis: Exxon Valdez Oil Spill4

Company's Actions & Reactions4

Fines and Consequences6

Lessons to learn6

Last Word7

Cited Works…………………………………………………………………………………………………………………………………………….9

Crisis Management

"Failure to have a workable crisis management program is asking to play Russian Roulette with an automatic pistol. You do not have the luxury of pulling the trigger on an empty chamber" (Hogue). Every company should be prepared for all kind of crises. No matter how prestigious and successful a company is, if it fails to confront a crisis, it can lose everything. First of all, what is a crisis? Seitel says a crisis is "a situation that has reached a critical phase for which dramatic and extraordinary intervention is necessary to avoid or repair major damage" (p. 385). In order for a company to overcome a crisis and still keep good reputation they should simply have a well-done crisis management plan. If companies have a plan before things "go wrong" then everything else will be a piece of cake when a crisis undertakes. Crises come and go at any time unexpectedly; they will merely break you or make you. In the middle of a crisis is better to deal with it quickly, taking action and making sure that the community you serving, or whoever is your main audience/beneficiaries, know that you are doing something.

Planning in a Crisis

In "The Practice of Public Relations" Fraser P. Seitel illustrate what he calls "the five planning issues paramount" (387 through 388) that is the five steps a company should take in the middle of a crisis. First of all, define the accident occurred. Sietel recommends companies to know the problem before communicating it. Second step involves letting the public know what should be done to reduce the risk. Fraser believes that if companies acknowledge the problem to the public they will more likely believe any solutions for the problem. Third action to be taken is to admit what went wrong. If the community sees you know you did wrong and that you know exactly how it happened then they will definitely believe you will fix the problem. Fourth move that should be done in the middle of a crisis is to take action! You cannot just identify the problem, let the community know what’s going on and not do anything. An action plan should be conducted and put it to work right away. Last but not least phase of the planning during a crisis is to get a spokesperson to let everybody know what’s going on and how the crisis is getting resolved. The public wants to know everything about the crisis and the right person should be chosen to communicate with the media. All that needs to be done is take responsibilities and never lie or cover up what the reality is. They should merely show they are in control of the situation and put an end to the crisis as soon as possible. If all of these steps are done correctly, then any company would be able to survive and keep on.

Company Overview: Exxon Mobil

Let me introduce you to the world's largest integrated oil and gas company, Exxon Mobil. According to Yahoo Finance, this well-known company deals with the production, supply, transportation, and marketing of oil and gas all around the world. It has showed to have the capacity of 24.8...
tracking img