The Chamber’s Legal Services Interest Group organized an event yesterday on how companies can better anticipate, strategize and manage a crisis. A truly expert panel comprising Ms. Cathryn Neo of PDLegal LLC, Mr. Danny Phan of Wachsman and Ms. Joon-Nie Lau of Singapore International Mediation Centre (SIMC) was moderated by Ms. Dawn Tan, Deputy Chairwoman, SICC and Managing Director of Ashurst ADTLaw.
Each of the panellists shared key learnings drawn from real-life case studies. For instance, it is important for a company to know the difference between an issue and a crisis. Accurately identifying a crisis can make or break a company. One of the most important, and yet often overlooked, aspects of managing a crisis is the reputational implications for the company. The first 48 hours of responding to a crisis sets the stage for how perceptions unfold. Legal and PR are the company’s allies in dealing with a crisis and sound, timely statements pave the way for positive outcomes. Mediation is not just an alternative but also an appropriate dispute resolution (ADR) process to enable parties to come to a settlement.
The Chamber thanks each member of the panel and moderator for really useful content and to the audience for contributing to a lively discussion.