When it comes to considering situations that could pose a critical threat to their business, most executives would rather not. Unfortunately, the old adage “out of sight, out of mind” is an ineffective approach; avoidance and failure to prepare can only worsen the outcome of a crisis. Even a seemingly insignificant or minor event has the potential to develop into a major blow to your business. That’s why it’s so important to thoroughly assess potential threats and develop a plan to either avoid crises or effectively manage them if they prove inevitable.

A guide to effective crisis management
The major critical threats facing companies today fall into six broad areas:

• intellectual property theft
• corporate fraud
• money laundering
• foreign corruption
• disputes
• corporate restructuring

For each of these categories, Deloitte’s guide, Crises and threats, outlines the major areas of exposure and vital first steps, and establishes essential competencies for any business.

The key to effective crisis management? Instead of worrying about critical threats, take steps to mitigate and manage them.

 Read about other critical threats to your business