Coomb's crisis theory
The perception of an unpredictable event that threatens important expectancies of stakeholders and can seriously impact an organization's performance and generate negative outcomes.
What is a crisis?
The manufacturer of the crockpot
What is Newell Brands?
Diminished trust in the brand lead to decreased sales and market share
What is Reputation damage?
Seeks to prevent or lessen the negative outcomes of a crisis and thereby protect the organization, stakeholders and industry from harm
What is crisis management?
The organization provides money or other gifts to the victims
What is compensation?
Low attribution of crisis responsibility
What is accidental cluster?
Might lose their jobs
Who are employees?
Death lawsuits from Jack Pearson's family or other affected parties and potential settlements could affect the company.
What is legal liabilities?
Introducing new safety technologies or features that address consumer concerns
What is innovation of the company?
The crisis manager publicly states that the organization takes full responsibility for the crisis.
What is apology?
What is technical-error product harm?
Are deeply concerned with the safety of the product in their possession and have had their trust in the brand diminished
Who are consumers/buyers and potential consumers/buyers?
Decreased revenue for Newell Brands and investors may divest
What is financial losses?
Re-evaluate and enhance the safety features of the products and the safety standards and quality control processes.
What are product safety improvements?
The organization tells stakeholders about its past good work.
What is reminding?
SAFE SPACE
SAFE SPACE
Received negative publicity and could have potential lawsuits and bad reputation that could affect stock price and profitability.
What are investors and shareholders?
Worried that the crockpot they own will have the same outcome
What is consumers panic?
Set its products apart from their competitors with these innovating ideas
What is differentiation of Newell Brands from other companies?
The crisis manager tries to minimize the organization's responsibility for the crisis.
What is excusing?