The disastrous removal of the United Airlines passenger and environmentally tragic BP oil spill are are only two instances out of countless other examples where inadequate communication on the part of a CEO has led to a corporation’s reputation being damaged, which in turn resulted in tremendous financial losses.
A reputation crisis can break the most powerful politicians and governments, or bankrupt the biggest companies or banks. The new media age brings with it new communications challenges – effective leadership and a strong communications strategy are more essential than ever for existential survival during a reputation crisis.
Latvia is currently in the midst of a banking corruption scandal as it faces upcoming parliamentary elections. In the context of global online election meddling and the viral spread of ‘fake news’, there has never been a more crucial time to talk about the importance of crisis management for leaders.