Credit: mast3r/Adobe Stock GCs Increasingly Take Lead When Crises Hit, With Companies' Lack of Preparedness Escalating Challenge
"The real way to prepare for these black swan events is to invest in trusted relationships with stakeholders and ensure you have clear channels for open and honest dialog before that thing happens," said Michael Carney, president of the U.S. Chamber of Commerce Foundation.
October 22, 2024 at 04:28 PM
4 minute read
Businesses and other organizations are least prepared to deal with crises that put them at the greatest risk, according to a new global survey of general counsel published by FTI Consulting and Economist Impact.
The study—Turbulent Waters, Trusted Anchors: The General Counsel's Evolving Role in Navigating Crises—points a gloomy picture of the threat landscape, reporting "that the reality is that the number and variety of crises that companies are facing have soared and are far less rare than could give any GC comfort. And if it's a big enough, or heavily regulated, company, the probability of zero of these events happening over a five-year period is approaching zero."
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