What is a crisis communications plan? Why do firms need to have crisis communications plans?
What will be an ideal response?
Crises are inevitable. Ill-prepared companies can find themselves not only mired in their crisis but in their poor public position on the crisis as well. Crisis plans are not a luxury for any company. The purpose of a crisis communications plan is to create a mechanism that allows the company to assess a situation and clearly communicate to stakeholders both the magnitude of the crisis and what the company intends to do about it. The plan creates a structure for analyzing a crisis and creating a plan of action that can be implemented swiftly. In moments of crisis, time is of the essence, and organizations with a plan will likely be better equipped to respond quickly and logically to any situation that arises.
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a. Audit risk. b. Control risk. c. Detection risk. d. Inherent risk.
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Fill in the blanks with correct word
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A) customer B) manager C) employee D) owner/investor
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A) Identity theft B) A margin purchase C) Insider trading D) Collusion E) A guarantee