recentpopularlog in

jerryking : crisis_management   33

Global shipping boss charts course through troubled waters
August 14, 2017 | Financial Times | by Richard Milne.

When AP Moller-Maersk came under cyber attack this year, chief executive Soren Skou was presented with a very basic problem: how to contact anyone. The June attack was so devastating that the Danish conglomerate shut down all its IT systems. The attack hit Maersk hard. Its container ships stood still at sea and its 76 port terminals around the world ground to a halt. ...Skou had no intuitive idea on how to move forward....Skou was “at a loss”, but he decided to do three things quickly.
(1) “I got deep in.” He participated in all crisis calls and meetings. “To begin with, I was just trying to find out what was happening. It was important to be visible, and take some decisions,” he says. Maersk is a conglomerate, so IT workers needed to know whether to get a system working for its oil business or container shipping line first.
(2) He focused on internal and external communication. Maersk sent out daily updates detailing which ports were open and closed; which booking systems were running and more. It also constructed a makeshift booking service from scratch.
(3)Skou says he made sure frontline staff in the 130 countries it operates in were able to “do what you think is right to serve the customer — don’t wait for the HQ, we’ll accept the cost”.

He says that he has learnt there is no way to prevent an attack. But in future, the company must “isolate an attack quicker and restore systems quicker”. He adds that Maersk will now approach its annual risk management exercises in a different spirit. “Until you have experienced something like this — people call them ‘black swan’ events — you don’t realize just what can happen, just how serious it can be.”

Danish conglomerate AP Moller-Maersk is planning to expand into transport and logistics ...

....Mr Skou’s plan for Maersk is about shrinking the company to grow — a “counterintuitive” approach, he concedes. Maersk’s revenues have stagnated since the global financial crisis and the solution has been to jettison what has often been its main provider of profits, the oil business.

In its place, Mr Skou has already placed his bet on consolidation in the shipping industry.....His real push is in bringing together the container shipping, port terminals, and freight forwarding businesses so as to make it “as simple to send a container from one end of the world to the other as it is to send a parcel with FedEx or UPS”. That requires quite a cultural shift in a group where independence was previously prized.....Another priority is to digitalise the group. “It is pretty messy,” Mr Skou says cheerfully. Unlike most businesses selling to consumers who offer few possibilities to change much, almost everything is up for negotiation between Maersk and its business customers — from delivery time, destination, cost, speed, and so on. “It’s easy to talk about digitalising things; it’s quite difficult to do in a B2B environment. It’s hard to digitalise that complexity,”
crisis  crisis_management  malware  cyber_security  cyberattacks  conglomerates  black_swan  improbables  CEOs  Denmark  Danish  IT  information_systems  think_threes  post-deal_integration  internal_communications  counterintuitive  digitalization  shipping  ports  containers  Maersk 
august 2017 by jerryking
On the Other Side of Terror’s Boom
JUNE 5, 2017 | The New York Times | By JULIETTE KAYYEM.

[Currently, in the aftermath of politician's comments on acts of terror like London (June 3, 2017)], there is an exclusive [over]focus on what is called in the crisis management lexicon “left of boom.” The measure of success, in other words, is simply whether or not an attack happened. It’s a simple metric, and surely one that terror organizations want us to adopt. It is a calculation weighted in their favour. Any attack, no matter how successful, is a victory for them and a defeat for us....The measure of success in counterterrorism efforts is not simply whether an attack occurred or not. Another measure must be whether fewer people died or were harmed because of the actions of police, fire fighters, emergency managers, public health officials and the voluntary efforts of the public.

But it is the other side of that spectrum — “right of boom” — where nations must also begin to define victory, especially in an age when we can’t prevent every attack no matter how much we would like to. We can still succeed, however, by making these attacks less effective and therefore less scary. While governments are already focusing on both sides of the boom, prevention takes too much of the spotlight from the more familiar, and often rote, activities of first responders.....“Right of boom” policies are not merely luck; they are the product of sophisticated planning and heeding the lessons learned from previous attacks...... Any successful terror attack is going to elicit fear, but fear is intensified when the consequences of the attack are not minimized and managed effectively. Admittedly, right of boom planning can seem defeatist or less aggressive than saying that we will stop all the terrorists. It shouldn’t......Right of boom planning is no more fatalistic than aggressively treating the growth of a cancer cell or building a sea wall as the oceans rise. They are all an acknowledgment that the harm has happened, but that we ought to try to command the depth of the loss.
terrorism  resilience  crisis  crisis_management  lessons_learned  pre-emption  left_of_the_boom  right_of_the_boom 
june 2017 by jerryking
Yale to Build Tool Offering Real-Time Lessons on Financial Crises -
May 9, 2017 | WSJ | By Gabriel T. Rubin.

Yale University will launch an online platform to provide real-time support to policy makers dealing with financial crises, with the help of a $10 million gift from business leaders and philanthropists Bill Gates, Jeff Bezos, Bloomberg Philanthropies and the Peter G. Peterson Foundation.

The gift represents a major expansion of the Yale Program on Financial Stability, a degree-granting program in the university’s school of management that aims to train early- and midcareer financial regulators from around the globe.

The new resources will support a small staff of researchers, led by Professor Andrew Metrick, as they build a database of “lessons from hundreds of interventions from past crises,” the university said. The effort is the first of its kind, according to Yale, and reflects a need for more research on “wartime” situations, rather than the preventive sort of regulatory research done by central banks around the world. Central banks often avoid extensive crisis preparations out of reluctance to promote moral hazard, leaving policy makers to reinvent the wheel each time a new crisis arises.....Mr. Geithner, who serves as the chairman of the Program on Financial Stability, said that he and other policy makers would have been able to act faster and with greater confidence during the financial crisis with access to the tools that Mr. Metrick’s team will build.

“There were probably four or five periods when the crisis was escalating, the panic was spreading, sitting on the phone for 20 hours a day trying to figure out how to do things,” Mr. Geithner recalled. “And we hadn’t had to do some of those things since the Great Depression. That took us a lot of time, and that can be costly.”

The open online platform will include descriptions of specific interventions—for example, the use of a “bad bank” to hold distressed assets—and will detail what did and didn’t work well in each case.
Yale  Colleges_&_Universities  crisis  regulators  Walter_Bagehot  central_banks  real-time  databases  lessons_learned  policy_tools  Peter_Peterson  reinventing_the_wheel  policymakers  confidence  economic_downturn  decision_making  speed  the_Great_Depression  crisis_management  crisis_response  Tim_Geithner  moral_hazards  financial_crises 
may 2017 by jerryking
What Comes After Acheson’s Creation? - WSJ
By PEGGY NOONAN
Feb. 9, 2017

The U.S. military needs to know what the U.S. government seeks from it. The White House need to communicate an overarching plan because if there’s no higher plan they, in turn, can’t make plans to meet the plan.....like tornado victims, those interested in foreign policy have been [shellshocked]—staring in shock at the wreckage of the post-War II international system.

But something has to be rebuilt. Everyone now has to be an architect, or a cement-pourer, or a master craftsman carpenter.

It’s been instructive the past week to reread a small classic of statecraft, “Present at the Creation” by Dean Acheson, published in 1969. As undersecretary and then secretary of state he was involved in the creation of the postwar order.

What is inspiring about Acheson’s first-rate second-rateness is that he’s like a lot of those we have developing foreign policy right now.

Acheson, though he did not present it this way, provides useful lessons for future diplomats in future crises.

• Everyone’s in the dark looking for the switch.
• Don’t mess things up at the beginning.
• Be able to see your work soberly. Keep notes so history will know what happened.
• Cheer up. Good things can come of bad times, great things from fiercely imperfect individuals.
• Even though you’ll wind up disappointed. All diplomats in the end feel frustrated over missed opportunities and achievements that slipped away. “Alas, that is life. We cannot live our dreams.”

Still to be answered: What is America’s strategy now—our overarching vision, our big theme and intent? What are the priorities? How, now, to navigate the world?

That soldier needs an answer to his question: What do you need from us? What’s the plan?
questions  U.S.foreign_policy  post-WWII  diplomacy  Dean_Acheson  Marshall_Plan  Peggy_Noonan  priorities  change  statecraft  books  Cold_War  international_system  rebuilding  dislocations  The_Establishment  crisis  crisis_management  Communicating_&_Connecting  grand_strategy  statesmen  imperfections  U.S._military  note_taking  missed_opportunities 
february 2017 by jerryking
Financial PR spins a new global story — FT.com
MAY 6, 2016 by: By Shannon Bond and James Fontanella-Khan in New York and Arash Massoudi in London

Leading financial communications companies from New York to Hong Kong are responding to growing demand for “whisperers” with global, political and digital nous. Nowadays, PR firms are expected to craft a corporate narrative that works across different markets, to handle complex relations with governments whose interests often diverge and to provide rapid-response crisis management.
crisis_management  Wall_Street  London  Communicating_&_Connecting  boutiques  public_relations  government_relations  consolidation  financial_communications  rapid-response 
may 2016 by jerryking
Why a Presidential Campaign Is the Ultimate Start-Up - NYTimes.com
JUNE 4, 2015 | NYT | By NEIL IRWIN.

Campaigns and start-ups share common challenges as they ramp up operations. A campaign that wins its party’s nomination must expand exponentially as it moves from early primaries to a general election. What was once a small, tightknit group must suddenly add many more people, often those with more experience.

It is much like a start-up that goes from a dozen people in a garage to hundreds of staff members, many with deeper résumés than the original ragtag crew. Part of the job for those at the top is massaging egos and trying to keep everyone committed and enthusiastic even as that transition takes place....Some of the management questions are fundamental. Should power be concentrated at the top of an organization or distributed broadly? Should there be strict lines of authority in which everyone stays in his or her narrow lane, or a more open management structure where people cut across organizational barriers?... They stressed the importance of the leaders setting clear goals and giving subordinates leeway to reach them — combined with accountability should they fail....Both the Bush and Obama campaigns emphasized measuring success and failure quantitatively....One of the biggest tests of management is how it copes with a crisis.
political_campaigns  start_ups  Campaign_2008  Obama  metrics  truth-telling  measurements  crisis_management 
june 2015 by jerryking
Sony needs to stop playing the victim - The Globe and Mail
MIA PEARSON
Special to The Globe and Mail
Published Thursday, Dec. 25 2014

2014 has us [that]...cyber attacks and hacking scandals are now a fact of life.

According to McAfee Labs 2015 Threat Predictions, cyber attacks will grow in frequency and range in 2015, and some experts believe 2015 could be the year a major company goes out of business because it failed to adequately prepare for a cyber attack.

Indeed, how your brand prepares for this new age of corporate cyber-terrorism could define your business....Sony’s real misstep has less to do with its decision to pull – and then subsequently green light – the movie, and more about their lack of leadership in place to handle this kind of situation. The strategy – or rather, lack thereof – conveyed little confidence or resilience to the public....Sony continues to play the victim card, but executives at the company only have themselves to blame for not clearly communicating the reasons for their decisions to the public and holding strong to that strategy.
crisis  crisis_management  data_breaches  hackers  cyberattacks  cyber_security  victimhood  Sony_Pictures  public_relations  Communicating_&_Connecting  threats  missteps  brands  preparation  frequency_and_severity 
december 2014 by jerryking
Case Study: Edgy Ad Campaign, With Hefty Digital, Traditional PR Support, Helps the Pistachio Come Out of Its Shell
Timeframe: March - Dec. 2009

In early 2009, life wasn't all it was cracked up to be for the pistachio. In March of that year, the FDA issued a precautionary, voluntary recall for the green nut for...
product_recalls  public_relations  commodities  branding  brands  transparency  crisis_management  FDA  marketing  Lynda_Resnick  social_media  funnies  contests  virality 
december 2013 by jerryking
Note From the Edge: Sometimes You Can't Control Your Success - WSJ.com
September 2, 1997 | WSJ | By HAL LANCASTER.

An Ex-Manager Says You Can't Always Control Your Success

Mr. Curnutt says. He speaks for a large populace of middle managers who aren't golden boys being groomed for senior management, who will likely rise only so far and then stay there.

But there is more these managers can do to bust out of their confining boxes. Mr. Curnutt always wanted to be a manager and he says now he would have been better off majoring in business or accounting from the start. I think he also could have been more aggressive in promoting himself, particularly after getting his M.B.A. Perhaps he could have created a new position, using some of the skills he learned in his M.B.A. program, instead of waiting for the company to identify an opportunity for him.

Even then, of course, things might not work out. Not everyone is meant to ride the gravy train. But you have everything to gain and nothing to lose. Remember, those who stand in place the longest are the most vulnerable. Ask Mr. Curnutt.
action-oriented  beyond_one's_control  contingency_planning  crisis  crisis_management  first_movers  Hal_Lancaster  immobilize  middle_management  paralyze  self-promotion  stress_response  Sue_Shellenbarger  uncertainty 
december 2012 by jerryking
Learn 'Languages' And You'll Always Land on Your Feet - WSJ.com
October 21, 1997|WSJ | By HAL LANCASTER.

Lesson 1: Learn as many "languages" as possible. Through all this, he learned the value of being a business linguist. He spoke fluent finance, law, investor relations, marketing and brand management.

"It helps your credibility when you can speak the language of other functions," he says.

Lesson 2: Build bridges to other functions.

During his six years at Allied, Mr. Simon had to deal with issues involving the company's toxic-waste cleanups. "We had all these Superfund sites and I had to learn about every one of them," he says.

So he sought out experts in other departments. "I worked a lot with people in strategic planning," he says.

He believed all areas of corporate communications -- media, investor, employee, community -- should be unified, so he spurned job offers that would pigeonhole him and sought training that would broaden him.

Lesson 3: Sometimes you've got to go down to move up.

In 1987, Mr. Simon joined Inspiration Resources, a mining company looking to create a combined media and investor-relations department. "I traded way down in size, but it was a chance to develop more broadly," he says. "It's easier to be a Goliath, but you learn a lot more with the Davids."

Lesson 4: Differentiate yourself by articulating your own philosophy.

When headhunters called, Mr. Simon would discuss the needs of the job, and often recommend someone for the post, even if he wasn't interested himself.

Lesson 5: Don't freeze in the midst of chaos -- act.

Within a year, the banking company was acquired by Fleet Bank and many Natwest people "gave up," Mr. Simon says. But he prepared a three-page summary on public-relations issues confronting the combined banks and requested a meeting with Fleet's vice chairman. The result: He was invited to join the integration team and his employment was extended a year.
action-oriented  advice  bias_for_action  bridge-builders  chaos  creating_valuable_content  crisis  crisis_management  contingency_planning  first_movers  Hal_Lancaster  immobilize  indispensable  lessons_learned  Managing_Your_Career  M&A  mergers_&_acquisitions  next_play  paralyze  post-deal_integration  rules_of_the_game  stress_response 
december 2012 by jerryking
Dell should listen - product recalls can be good
August 16, 2006 | Financial Times | NIRMALYA KUMAR and NADER TAVASSOLI

* Companies need to realise that such crises are about more than simply minimising legal liabilities. The challenge is not to allow a product recall to threaten the entire brand or company.
* Understandably, companies may feel threatened by a deluge of press inquiries, but speed and clarity of response is essential. The media may be converted into an ally, and internally it is vital to maintain staff morale. (JCK: the platform can help here).
* This team's priority should be immediately to assess the source and potential impact of the crisis. Who was hurt? Does it require free servicing, partial recall or total recall? Of course, preparation helps.
* The brand also needs to consider how to get back on its feet.
* A product failure is a moment of truth. A poorly managed response can unmask a brand promise as a hollow boast.
ProQuest  crisis  crisis_management  crisis_response  brands  branding  brand_purpose  Dell  failure  moments_of_truth  preparation  product_recalls  threats  turnarounds 
june 2012 by jerryking
Infotrac Newsstand - Document
Time to stand up to the crisis junkies
Author(s): Philip Delves Broughton
Source: The Financial Times. (Sept. 6, 2011): News: p14
crisis  crisis_management  Philip_Delves_Broughton 
december 2011 by jerryking
Damage Control for a Forced Exit - WSJ.com
NOVEMBER 14, 2011, 9:36 A.M. ET

Damage Control for a Forced Exit

By JOANN S. LUBLIN

Columnist's name
crisis_management  public_relations  firings  Managing_Your_Career  Joann_S._Lublin 
november 2011 by jerryking
globeadvisor.com: Risky Business
October 6, 2011 | Report on Small Business | Colin Freeze.
If anyone can prepare civilians working in hot zones for possible abduction, it's ex-soldiers. But can they run their own consulting companies?
crisis_management  emerging_markets  kidnappings  personal_safety  security_&_intelligence 
october 2011 by jerryking
AIG Offers Crisis-Communications Insurance - WSJ.com
OCTOBER 12, 2011 | WSJ | By ERIK HOLM.

Got a Crisis? Tap AIG (Really)....Chartis, the property-casualty subsidiary of the New York insurer, is offering a new type of coverage to help companies offset the cost of bringing in outside experts when a public-relations crisis hits. Dubbed ReputationGuard, the insurance will pay for policyholders to seek the counsel of two crisis-communications firms, Burson-Marsteller and Porter Novelli, even before a possible crisis becomes public.
crisis_management  Chartis  AIG  reputation  insurance  public_relations  publicity  Burson-Marsteller  Porter_Novelli 
october 2011 by jerryking
The Urge To React
Richards, Carl
The New York Times
03-19-2011

It's hard to stick to a plan when everything is screaming at you to
abandon ship. I'm also not saying that the market will stop going down.
But if you have carefully considered your investment decisions in the
context of your life and goals, with a clear understanding of the risks
you take when you invest in the stock market (no excuses here since we
just lived through the best example of risk in decades), then now is the
time to stick to the plan.
financial_planning  crisis_management  reflections  personal_finance  goals  values  crisis  self-discipline 
march 2011 by jerryking
Flaws in Japan’s Leadership Deepen Sense of Crisis - NYTimes.com
By KEN BELSON and NORIMITSU ONISHI
Published: March 16, 2011
Never has postwar Japan needed strong, assertive leadership more — and
never has its weak, rudderless system of governing been so clearly
exposed or mattered so much. ....Japan’s leaders need to draw on skills
they are woefully untrained for: improvisation; clear, timely and
reassuring public communication; and cooperation with multiple powerful
bureaucracies.
Japan  leadership  crisis  crisis_management  bureaucracies 
march 2011 by jerryking
DeMaurice Smith Takes On the N.F.L. Owners - NYTimes.com
By SRIDHAR PAPPU
January 22, 2011

As a corporate lawyer at Patton Boggs, the high-powered Washington firm,
Mr. Smith dealt with companies that were either “in crisis or were
about to be.” As a candidate for the N.F.L.P.A. job, he composed what he
called “Playbook: An Enterprise Philosophy to Maximize the Business and
Political Interest of the N.F.L.P.A.” “About 60 percent of it,” he
said, “was envisioning what the chances were of a lockout and what to do
to prepare for it.”

It was a useful exercise. “The only bad thing is that everything we
thought and contemplated the league would do they’ve done,” Mr. Smith
said.
anticipating  creating_valuable_content  crisis_management  enterprise_clients  event-driven  labour  lawyers  negotiations  NFL  playbooks  preparation  sports  troubleshooting  turnarounds  unions 
january 2011 by jerryking
What to Do in a Product Safety Crisis -
March 6, 2009,| BusinessWeek | By Eric Dezenhall. If your
company faces a product safety crisis, don't panic. Here are some
guidelines to help you respond with a cool head
product_recalls  crisis_management  public_relations  Communicating_&_Connecting  keep_calm  damage_control 
november 2010 by jerryking
Agility in Adversity
06 October, 2004 | CIO | by Patricia Wallington. Learning to
deal with adversity in your company, your career and your life is an
essential element of effective leadership. Many times you succeed by
what you do when they are not going well. Just as an agile company more
easily retains its competitive edge, strong, agile leaders have a knack
for turning problems into opportunities and for bouncing back from
adversity.
adversity  agility  leadership  crisis_management  resilience  bouncing_back 
february 2010 by jerryking
A Quiet End for Boys Choir of Harlem
December 22, 2009 | New York Times | By SHARON OTTERMAN
choirs  singers  exits  crisis  crisis_management 
december 2009 by jerryking
Long journey back from the abyss
Oct 28, 2005. Financial Times. London (UK): pg. 11 by DEBORAH
BREWSTER and DAVID. The Clinton Group has made a comeback from near
collapse after a rumour caused investors to fleeWIGHTON.
hedge_funds  crisis_management  reputation  damage  rumours  public_relations 
march 2009 by jerryking

Copy this bookmark:





to read