The classic school of crisis management is rooted in the concept of goodwill banks, with the idea being that a company builds up goodwill over time, which is a currency that helps withstand a crisis. While much has changed in the best practices of crisis management, the concept of building a goodwill bank still holds up. Fundamentally, building a goodwill bank begins with building relationships. Just like any relationship, if it’s one sided—where one party is always asking for something—it rarely becomes a trusted relationship.
Stories by Carreen Winters