In the real world, crisis is like an injury which penetrates and causes disintegration to the processes of a system. It is an instill fact that precaution is better than cure. No one should be naive to the acute fact that in case one foresees a crisis coming, it must be handled immediately, without any delays. Waiting for the effects of any crisis to deepen is similar to putting the brand into more jeopardy. Avoiding any sort of crisis will always result in further deepening the losses.
For instance, declining sales graph of a brand; the moment a slight decline is noticed, the first task must be to ensure all precautionary measures like bringing strategic marketing changes or deducing production of products which have lost demand. The sooner a survival plan is launched against crisis, better will be the ability to handle it.
Consider quality crisis as an example; brands who have a competitive edge over competitors just because they are providing better quality to their customers. The loyalty of such customers gets crucially affected if there is a significant decline in the quality of product. Consumers switch brands if quality goes below their desired mark. Hence, this is a crisis situation where decision makers such as managers need to look into things proactively.
Companies tend to take initial crisis very lightly and are not proactively keeping track. It can cost organizations to lose their loyal customers. Customer loyalty, customer dissatisfaction and such things get diversely affected by the quality crisis.
Timely attention can create a difference in handling crisis in a better way. Even in clinical emergencies, paramedic staff advises to keep first aid boxes at home to provide instant care to the patient. One may ask the question that we are always equipped for emergencies at home but are the organizations well equipped and ready, especially in case of crisis?
