“Does the age of a company come into play? Absolutely. Young companies tend to think with the bravado of a 16-year-old with a new driver’s license. They believe nothing can go wrong,” Susan Stoga, principal at“Often, crisis plans are on the to-do list but not on the priority list. Instead, young company leaders would be best served by seeing a crisis plan as insurance or risk management against the reputation of the company or brand.
, chief operating officer at Continuity2, a business continuity and resilience company, said via email.Large, older businesses should focus on comprehensive risk assessment and clear communication channels within their complex structures, ensuring robustness and efficiency in their crisis responses,” she counseled.