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The gravity of the situation is very much apparent, that there are three casualties from the substance. This involves death of three people, and should be taken extreme measures to make sure that the crisis will not happen again. Apart from the fatalities, the organization and the public will be concerned about the physiological effects of this chemical agent, that apart from the fatalities, long-term damage to the health of other employees may have resulted in it. The organization should make sure to address this concern as well.
Another major concern for the organization, as well as the other stakeholders will be what the incident costs the business. Apart from the monetary costs that entails the incident--pay to the families of the fatalities, the medical check-ups of the people who have been exposed to the chemicals to ensure there are not long-term damage to their health, installation of new security systems and reinforcement of new security measures, payment for publicity costs, etc—there are non-monetary costs to organization as well. This can includes: psychological tension to employees with the prospect of unsafe environment—thus either decreasing morale, productivity, or may result in increase in turnover; damage to brand equity when the news leaks to the public which will result in loss in potential talents, decrease trust in suppliers, customers and other stakeholders, and potential capital flight from investors.
Employees are the target public, who are most directly concerned with the incident. Because the safety of the work environment will be a factor in the employees’ morale, productivity—this tension should be first calmed among them.
Because of this incident, there will be several versions of the story when it leaks out to the public. Therefore, it is crucial to address this brand crisis and address the reality of what has happened in order to clear out future misconceptions about it. This
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Different kinds of crisis could hit an organization, and these crises could be of varying probabilistic occurrences. Hence, the management has to weigh the costs and benefits of investing resources to this exercise before going forward with it. Moreover, irrespective of the nature and intensity of a real crisis, the way it gets projected in the media can have an effect on the way the crisis is perceived by stakeholders.
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ARM Holdings is one of
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Moët & Chandon is focused on market segments in the