In fact, crisis management has become a growth industry. Some firms have people around the country who can move on a 24-hour basis to handle a corporate crisis. Often, these independent experts offer a much needed objectivity. Despite the new popularity of crisis management, executives who are fully ready to respond to emergencies are still in the minority. When a disaster unfolds, many corporate chiefs shake their heads and refuse to acknowledge the gravity of the problem.
Denial then gives way to anger.
When the crisis doesn't go away quickly, the panic sets in. You have to take charge. Company officials must next overcome a powerful impulse to run for cover from the press and the public. Executives often bury their heads in the sand and refuse to communicate. When that happens, the public loses faith in the firm, and its products, which may never be restored.