have a crisis management plan ready to go The banking Royal Commission in Australia has uncovered what appear to be some very unethical and possibly illegal activities. Research suggests that this has further eroded trust in banks and related businesses. This is the third of five thoughts addressing what can be learned from the reported […]

have a crisis management plan ready to go The banking Royal Commission in Australia has uncovered what appear to be some very unethical and possibly illegal activities. Research suggests that this has further eroded trust in banks and related businesses. This is the third of five thoughts addressing what can be learned from the reported behaviour of banks and other businesses that have lost consumer trust. Trust is central to effective branding and essential to successful brand loyalty. These issues have been addressed at length in previous articles. The focus here is how to address a crisis after lies have been told and trust has been lost. Research completed in the United States in 2017 found that 79% of chief executives think that they will be subject to a crisis in the next 12 months. The same research found that: 67% of chief executives think they are prepared for a…