Post Magazine

[Ilene Merdinger] explains that planning can be divided into three phases: before, during and after the event. "There are many things a company can do in advance of a situation; and having a strong leadership during a crisis can make or break a company. Management needs to show people they are doing everything they can to fix the situation."

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It is not all doom and gloom, and many experts believe that, depending on the circumstances, a crisis can be turned into an opportunity if it is handled effectively.

As an example, Ms Merdinger cites a recent case of a US food company, which had to handle a crisis when bacteria was found in its products — coincidentally in the same week the company was going public. "They managed the crisis so well that sales went up and the loyalty of their customers increased. This could have been the worst event in the firm's life, but it turned into an opportunity for them."