Institute for Crisis Management Releases Annual Crisis Report for 2023
The 33rd annual report examines the year's crisis news and identifies emerging trends of concern to business leaders.
SOUTH BEND, Ind., Aug. 1, 2024 /PRNewswire/ -- Crisis news story statistics continued their post-pandemic shuffle with some surprises revealed in the 2023 numbers. The Institute for Crisis Management® (ICM) tallied 1,977,722 crisis news stories in 2023, a decrease of about nine percent over 2022 in a retreat towards pre-pandemic story numbers.
The 2023 ICM Annual Crisis Report is a compilation of news, trends and highlights of business crises, giving leaders valuable insight into the impact crises have on the organization and its stakeholders. According to the report, news items about catastrophes reclaimed the top spot at 26%, followed by white-collar crime and class actions at 11% each. At the bottom of the list were casualty accidents at 0.28% and environmental damage at 0.47%.
"COVID-19 stories continued to make some headlines, but not nearly to the extent of the previous three years. The volume of sudden versus smoldering crisis stories migrated back toward the 2020 levels with a nearly 50/50 split. Just five of the 16 categories ICM tracks had a lower result than the previous year: casualty accidents, consumerism/activism, executive dismissals, sexual harassment and whistleblowers," noted Deborah Hileman, ICM's CEO.
Hileman urges leaders to invest in comprehensive crisis management and communication planning and training to prepare, prevent and mitigate the kinds of crises that impact an organization's reputation, brand, business and financial performance. " The investment in preparedness is small compared to the cost of failure to manage crisis effectively," she said.
About the ICM Annual Crisis Report
ICM was founded with the principle that research is a vital underpinning to effective crisis management and communication. The firm has been producing this annual report since its founding in 1990. The report is a popular tool with professionals ranging from executives to academics, and has been cited in numerous reports, articles and white papers over the years.
Visit the ICM website at https://crisisconsultant.com for a free report download and to register for an upcoming online Crisis Communication Management Course. Just one class remains for 2024, beginning in September.
About ICM
Founded in 1990, the Institute for Crisis Management was one of the first consulting firms in the U.S. to specialize exclusively in crisis management and communications. Unlike general consulting and PR firms, helping clients build the skills required for effective reputation, issues and crisis management is at the heart of what we do. ICM's planning, training and consulting services help leaders and organizations of all shapes and sizes through all phases of a crisis, from assessing vulnerabilities and preparing for them, to containing a crisis and mitigating damage, learning from the event and seizing opportunities that arise from the crisis.
CONTACT:
Deborah Hileman, SCMP
Institute for Crisis Management
[email protected]
+1 502.587.0327
SOURCE Institute for Crisis Management
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