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A Crisis of Confidence

Board survey finds gaps between awareness of crisis threats and preparation to handle them

A new survey conducted by Forbes Insights on behalf of Deloitte Touche Tohmatsu Limited finds that more than three-quarters (76 percent) of board members believe their companies would respond effectively if a crisis struck tomorrow. But less than half of their companies have taken steps to be truly crisis ready.

Only 49 percent of respondents say their companies actively monitor to detect trouble ahead or have playbooks for likely crisis scenarios. Less than one-third (32 percent) report their companies engage in crisis simulations or training. And while 73 percent name reputation as a vulnerability, only 39 percent report having a plan to address it.

Deloitte’s new global survey report, A crisis of confidence, examines the gap between real and perceived crisis readiness in the eyes of board members and the large companies they direct. Respondents offer their insights and concerns about crisis risks and their companies’ level of crisis management maturity.

The report discusses:

·         Board members’ confidence in their organizations’ crisis-related abilities

·         Perceived vulnerabilities and companies’ efforts to address them

·         The role of the board before, during, and immediately after a crisis – what to ask and do

·         Practical steps to advance the journey from crisis awareness to crisis readiness

 

View the survey report and key findings infographic here.

Deloitte

“Deloitte” is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, tax and related services to select clients. These firms are members of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”). Each DTTL member firm provides services in particular geographic areas and is subject to the laws and professional regulations of the particular country or countries in which it operates.

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