ABSTRACT
How do effective directors ensure they and the company are prepared for a crisis?
Based on a framework of global corporate governance best practice, which can be used in all organisations anywhere in the world, this chapter of Questions To Ask (QTA) in the boardroom gives a high-level but succinct introduction to crisis management.
All directors should ensure that they maintain a sense of perspective in a crisis and lead from the top.
The chapter considers what boards should do in a crisis situation where the viability of the company might be under threat. This includes staying well informed and attuned to a potentially rapidly changing internal and external environment, considering health and safety, and being aware of financial impact and cash flows, change to risks and opportunities, business continuity, key person risks, the board’s own functioning, and good crisis communications.
The chapter’s introduction leads into outlining the key Questions To Ask in the boardroom, giving the reader further insight into how to initiate discussions about the practical details requiring the attention of the board.
