Recall Recovery

Jonathan Bernstein crisis management, Crisis Prevention, Crisis Response, reputation management

As I’ve stated in previous articles, product recalls have the potential for crises for which many companies remain unprepared. They are nearly guaranteed to produce an initial barrage of criticism that, if not properly handled, can snowball into something much worse. A recent interview from ReliablePlant.com has more on this point:

“Recalls undermine trust in a specific brand and it can take the company a long time to recover from the damage to its reputation, but it doesn’t have to take a long time if the company uses good crisis management tactics,” said Manpreet Hora, an assistant professor in Georgia Tech’s College of Management. “Reducing the time it takes to recall a product will have a positive effect on consumers’ willingness to purchase other products from the same company and if the recall is handled well, the stock price may recover to the same level as before the incident.”

As always, smart crisis management practices are the key. By forming plans before a recall is necessary, organizations can respond swiftly and with confidence, reducing damage to both reputation and the bottom line.

JB

Jonathan Bernstein
https://www.bernsteincrisismanagement.com/