Question

Please write a short summary of any article of how the New York CITY GOVERNMENT responded to Crisis that affected a Business or Industry in a NEGATIVE way. In your own words please, don't copy and paste.

Answer 1

Government actions have a significant effect on companies’ economic value: 34 percent of respondents say 10 percent or more of their operating income is at stake. Some government actions, such as providing infrastructure and access to capital, are likelier to have a positive than a negative effect on company finances. However, passing laws and setting policies—the actions executives say most often affect their companies’ economic value—have an overall negative effect.

A variety of government actions affect companies’ economic value; not surprising, respondents in every country select passing laws and enforcing regulations far more often than other actions as having an effect. Although most government actions are less likely to have an effect than those two, others are seen as likelier to have a positive than a negative effect on companies’ finances. There are notable regional differences in the government actions executives say are likeliest to have a positive effect—mostly related, it appears, to a greater need for infrastructure and capital in developing economies.

Sudden crises are circumstances that occur without warning and beyond an institution's control. Consequently, sudden crises are most often situations for which the institution and its leadership are not blamed.

Usually the most vivid stage, the goal of crisis containment and damage control is to limit the reputational, financial, safety, and other threats to firm survival. Crisis handlers work diligently during this stage to bring the crisis to an end as quickly as possible to limit the negative publicity to the organization, and move into the business recovery phase.

The effort taken by an organization to communicate with the public and stakeholders when an unexpected event occurs that could have a negative impact on the organization's reputation. This can also refer to the efforts to inform employees or the public of a potential hazard which could have a catastrophic impact. There are 3 essential steps that an organization can take to prepare for and withstand a communications crisis: 1) Define your philosophy; 2) Assess your vulnerabilities; 3) Develop a protocol.