Crisis Management and Communications. Introduction Crisis management is a critical organizational function.
Failure can result in serious harm to stakeholders, losses for an organization, or end its very existence. Public relations practitioners are an integral part of crisis management teams. So a set of best practices and lessons gleaned from our knowledge of crisis management would be a very useful resource for those in public relations. Volumes have been written about crisis management by both practitioners and researchers from many different disciplines making it a challenge to synthesize what we know about crisis management and public relations’ place in that knowledge base. Definitions There are plenty of definitions for a crisis. Effective crisis management handles the threats sequentially.
Crisis management is a process designed to prevent or lessen the damage a crisis can inflict on an organization and its stakeholders. Pre-Crisis Phase Prevention involves seeking to reduce known risks that could lead to a crisis. Why I Am Leaving Goldman Sachs. When the history books are written about Goldman Sachs, they may reflect that the current chief executive officer, , and the president, Gary D.
Cohn, lost hold of the firm’s culture on their watch. I truly believe that this decline in the firm’s moral fiber represents the single most serious threat to its long-run survival. Over the course of my career I have had the privilege of advising two of the largest hedge funds on the planet, five of the largest asset managers in the , and three of the most prominent in the and .
My clients have a total asset base of more than a trillion dollars. I have always taken a lot of pride in advising my clients to do what I believe is right for them, even if it means less money for the firm. Photo How did we get here? What are three quick ways to become a leader? Today, many of these leaders display a Goldman Sachs culture quotient of exactly zero percent. It makes me ill how callously people talk about ripping their clients off. Press Releases and Comments - Goldman Sachs' Response to March 14, 2012 New York Times Op-Ed. Share on print Print The following is the message Lloyd C. Blankfein and Gary D. Cohn sent March 14, 2012 to the people of Goldman Sachs. By now, many of you have read the submission in today’s by a former employee of the firm. Needless to say, we were disappointed to read the assertions made by this individual that do not reflect our values, our culture and how the vast majority of people at Goldman Sachs think about the firm and the work it does on behalf of our clients.
In a company of our size, it is not shocking that some people could feel disgruntled. While we expect you find the words you read today foreign from your own day-to-day experiences, we wanted to remind you what we, as a firm – individually and collectively – think about Goldman Sachs and our client-driven culture. First, 85 percent of the firm responded to our recent People Survey, which provides the most detailed and comprehensive review to determine how our people feel about Goldman Sachs and the work they do. Lloyd C.