Strategy analysis

Surviving a Scandal: How to Expect the Unexpected

The Institute of Crisis Management defines a crisis as “any problem or disruption that triggers negative stakeholder reaction and that could impact the organization’s financial strength and ability to do what it does.” In the pharmaceutical setting, a crisis could mean an adverse clinical trial event, the bankruptcy of an essential service provider, or a serious product recall. It could be an event that is within the company’s control and has been mishandled, or an external situation that forces the business to change its strategic course, either temporarily or permanently.