Transcript Document
Planning for the Unplanned: Seven Key Crisis Communications Strategies for the Mining Industry Current Trends in Mining Finance Conference New York, April 30, 2013 We’re all vulnerable • Where do crises come from? • Industrial accidents • Changes in geologic conditions • Volatile commodity prices • Investor activism/short-sellers • Public opinion, NGOs, regulators • What’s the impact? • Reputation, credibility • market value • financial condition • How can we prepare? How can we provide the right response? Client Logo 2 Know how to prepare • Have clear goals (e.g., related to message control, leadership visibility, procedures) • Regularly engage all organizations and groups that are important to you (e.g., communities, employees, investors, media, regulators) in advance of any crisis • Always listen Client Logo Know what a crisis looks like • Will start suddenly and unexpectedly • Cannot be remedied with routine solutions • Will usually present a threat that is based on perceptions Client Logo 4 Know the basic principles of how to respond • Communicate early and often regardless of whether new information is available • Stick to facts - do not increase the level of uncertainty by speculating • Be prepared to carefully defend your understanding of events, evidence • To the extent you can, give your audiences ways to respond, react, get more information, etc. Client Logo 5 Use one, visible spokesperson • Acknowledge uncertainty (i.e., try not to fill in the blanks too early) • Assure that that the company will remain in contact with all concerned • Avoid reassurance when it isn’t warranted • Stay credible Client Logo 6 Know the lessons of good leadership and apply them • Leaders are (usually) made, not born, so training is critical • You must have effective leadership to bring an organization through a crisis • The best leaders are highly adaptable – a quality that is especially important in a crisis Client Logo 7 Avoid the pitfalls that can worsen a crisis • Don’t engage in self deception, go into “hope mode” (thinking it will all blow over) or cover it up • Don’t avoid responding (if it’s a real crisis) • Don’t think that you can just “wing it” when it happens – be prepared Client Logo 8 Use what you’ve learned from a crisis as a catalyst for positive change • Crisis response isn’t just about “damage control,” your response can generate support and revitalize your reputation • Ask: “what should we do differently going forward?” • Always be prepared to learn because a crisis will challenge the way you think about the company, its operations, and reputation Client Logo 9 Contact Alan Oshiki Managing Director (212) 232-2354 [email protected] www.king-worldwide.com © 2012 King Worldwide Investor Relations