Crisis management – be prepared

In Lianhe Zaobao's regular column targeted at SMEs, SMU Associate Professor of Corporate Communication Gregor Halff discussed some of the lessons that local SMEs can draw from recent events in Singapore. He highlighted the importance of crisis-preparedness, and advised that companies should always have a crisis communication plan, review it yearly and train staff ahead of a crisis. “Preparing for a possible crisis takes time, management attention and a budget. But being prepared will be less costly than the damage done to a company's reputation if it gets into an actual crisis,” he advised.