"Tweets," being caught in a political crosshair or a quirk in supply chains can impact businesses significantly, warns Brink, citing the hit to biotech stocks after a Tweet from Hillary Clinton, and companies can no longer rely on standard methods of crisis management. "The way we think about this is that it's not just an issue for tech companies," he says. Directors also need to better understand the outside landscape and bring in external help to manage this new definition of crisis.
"Tweets," being caught in a political crosshair or a quirk in supply chains can impact businesses significantly, warns Brink, citing the hit to biotech stocks after a Tweet from Hillary Clinton, and companies can no longer rely on standard methods of crisis management. Companies are urged to be better prepared for "horizon" issues, with boards adopting a more forward-looking agenda to identify potential forthcoming risks rather than focusing solely on past performance and compliance. Directors also need to better understand the outside landscape and bring in external help to manage this new definition of crisis.