Frequently Asked Questions

Strategic risk entails understanding and managing the potential challenges that can affect an organization’s strategy and ability to achieve its objectives. It involves a comprehensive approach to identifying, assessing, and mitigating risks that might impact a business in various areas, including legal, financial, operational, and reputational aspects. In the context of our services, strategic risk management includes tailoring solutions to unique client needs, addressing issues like cybersecurity, insider threats, espionage, and crisis management. Our approach is holistic, focusing on both immediate and sustainable solutions, ensuring that your organization is prepared for and can effectively respond to 21st-century threats and complex problems.

A crisis is any situation that is perceived as threatening or could threaten to harm people, property, operations, or reputation. This definition emphasizes the importance of stakeholders’ perception of an event in determining whether it constitutes a crisis.
 
A crisis can take many forms, from natural disasters to cyber-attacks, to social or political unrest, and can occur in any industry or sector. In a crisis, people often feel heightened emotions and a sense of urgency, and effective crisis management involves responding quickly to prevent further harm or damage.
 
Proactive risk management and effective communication with stakeholders are crucial in minimizing the impact of a crisis on an individual, organization, or community. By anticipating potential crises and implementing strategies to prevent harm, the severity of a crisis can be reduced, and its impact on people, property, operations, and reputation can be minimized.
Choosing a crisis management firm can be a wise decision for individuals, organizations, and communities facing a crisis for several reasons:
  1. Expertise and experience: Crisis management firms specialize in handling crises and have a team of experts with experience and knowledge in dealing with various types of crises. They bring an outside perspective and fresh insights to a crisis situation, which can help in identifying potential risks and developing effective strategies to manage them.
  2. Strategic planning: Crisis management firms can help in developing a crisis management plan tailored to the specific needs and circumstances of an organization. This plan includes identifying potential risks, establishing protocols for crisis response, and providing training to employees and stakeholders.
  3. Rapid response: In a crisis, time is of the essence, and delays in response can have significant consequences. Crisis management firms have a team of experts who can respond quickly to a crisis and provide support and guidance in real-time.
  4. Reputation management: A crisis can have a severe impact on an organization’s reputation. Crisis management firms can help in managing the narrative surrounding a crisis, communicating effectively with stakeholders, and minimizing reputational damage.
  5. Legal considerations: A crisis can have legal implications, and a crisis management firm can provide guidance to legal counsel issues related to a crisis, including risk mitigation, and crisis communication.
Overall, choosing a crisis management firm can help in mitigating the impact of a crisis, minimizing risks, and protecting the reputation of an individual, organization, or community.
While both a crisis and an issue can be challenging situations, there is a difference between the two. An issue is a problem or concern that can be anticipated and managed before it becomes a crisis, whereas a crisis is an unexpected and rapidly evolving event that requires immediate attention.
 
An issue is typically a problem or concern that can be addressed through normal business processes, such as customer complaints or minor operational disruptions. It can be managed through proactive measures such as risk management and effective communication, and can often be resolved without significant impact on the organization or its stakeholders.
 
A crisis, on the other hand, is an event that poses an immediate threat to an organization or its stakeholders, such as a natural disaster, a cyber-attack, or a major accident. It can cause significant harm or damage, and requires an immediate and coordinated response to prevent further harm and protect the organization’s reputation.
 
While an issue can potentially escalate into a crisis, effective issue management can help prevent it from reaching that level. By contrast, a crisis requires a different level of response and can have far-reaching consequences for an organization and its stakeholders.
 
In summary, an issue is a problem that can be managed through normal business processes, while a crisis is an unexpected and rapidly evolving event that requires an immediate and coordinated response to prevent further harm and protect the organization’s reputation.
Reputation protection refers to the strategies and measures taken by individuals, organizations, or communities to safeguard their reputation from potential risks and negative events that could harm it.
 
A good reputation is critical to the success of individuals, organizations, and communities. A positive reputation can attract customers, investors, and supporters, while a negative one can lead to loss of trust, decreased revenue, and reputational damage.
 
Reputation protection involves proactive risk management to prevent potential risks from arising and mitigating the impact of negative events on a reputation. It includes measures such as:
  1. Proactive reputation management: Building and maintaining a positive reputation through effective communication, stakeholder engagement, and transparent business practices.
  2. Crisis communication planning: Developing a communication plan to respond to a crisis quickly and effectively, including identifying key stakeholders, developing key messages, and establishing communication protocols.
  3. Monitoring and managing online reputation: Monitoring and managing online reviews, social media, and other online platforms to prevent negative information from spreading and mitigating the impact of negative online reviews.
  4. Legal protection: Protecting reputation through legal means, such as enforcing trademarks, copyrights, and other intellectual property rights, as well as taking legal action against defamation, libel, or slander. We have connections to counsel that can assist in this aspect. 
Preparing for a crisis involves a range of proactive measures that help organizations respond effectively to unexpected events that could harm their reputation, operations, or stakeholders. This can include developing a crisis management plan, training staff on crisis response procedures, conducting risk assessments, and establishing communication protocols.
 
At our firm, we work with clients to assess their unique risks and develop customized crisis management plans that align with their business objectives and values. We also provide training and support to help organizations build resilience and respond effectively in the event of a crisis.
 
Our team has extensive experience managing a wide range of crises, including cybersecurity incidents, data breaches, natural disasters, workplace accidents, and reputation crises. We understand the importance of acting quickly and decisively during a crisis, and we have the expertise and resources to help our clients navigate these complex situations.
 
By taking a proactive approach to crisis management, organizations can help minimize the impact of a crisis and protect their reputation and stakeholders. We are committed to helping our clients prepare for and manage crises, and we are available to provide support and guidance at any stage of the crisis management process.
Yes, a crisis can still occur even if you are well-prepared. While being prepared can help reduce the likelihood and severity of a crisis, it cannot completely eliminate the risk of a crisis occurring.
 
A crisis is an unexpected and rapidly evolving event that can have far-reaching consequences, and it can be caused by a wide range of internal and external factors. Despite your best efforts to prepare, there may be factors outside of your control that could trigger a crisis.
 
Furthermore, while being prepared can help mitigate the impact of a crisis, it cannot completely prevent it from happening. The nature of a crisis is that it is unpredictable and can escalate quickly, and even the best-prepared organizations may face unexpected challenges.
 
However, being well-prepared can still be beneficial in a crisis, as it can help you respond quickly and effectively to mitigate the impact of the crisis. This includes having a crisis management plan in place, training staff on crisis management procedures, and having communication protocols established to ensure a coordinated response.
 
While being prepared can help reduce the likelihood and severity of a crisis, it cannot completely eliminate the risk of a crisis occurring. A crisis is unpredictable by nature, and even well-prepared organizations may face unexpected challenges. However, being well-prepared can still be beneficial in a crisis, as it can help you respond quickly and effectively to mitigate the impact of the crisis.

If you have a question regarding a strategic risk or are facing a crisis that could have lasting implications, we recommend that you contact us for a no obligation 15-minute consultation.

Our team of experienced critical risk management experts can provide you with guidance tailored to your specific situation. During the consultation, we can discuss your situation, potential risks, and options for resolution with a 360-degree perspective.

We focus on strategic risk and crisis management, and have helped individuals, organizations, and communities navigate through challenging situations. We understand the importance of quick and effective action in a crisis, and we are committed to providing you with the best possible solutions for managing risks.

To schedule a no obligation 15-minute consultation, please contact us at crisis@rigc.ca or call 1(905)409-1385. We look forward to speaking with you and helping you navigate through your matter.

Yes, we would be happy to provide references or case studies that demonstrate our experience in strategic risk, crisis management, due diligence, and litigation support.

We have worked with clients across a range of industries, including healthcare, finance, technology, manufacturing, and more. Our teams include experienced critical risk management professionals, security experts, investigators, and other professionals who bring a wealth of knowledge and experience to each engagement.

To protect the confidentiality of our clients, we do not disclose specific case details without their permission. However, we can provide general information about the types of cases we have handled and the outcomes we have achieved.

We also have a track record of successful engagements and satisfied clients, and we are happy to provide references upon request. Our clients value our deep expertise, responsive communication, and commitment to delivering high-quality results.

Overall, we are confident in our ability to provide the highest level of service and expertise to our clients, and we are always happy to provide references or case studies that demonstrate our capabilities in these areas.

At our firm, we offer a range of fee structures to meet the diverse needs of our clients. Depending on the nature and complexity of the engagement, we may recommend one of the following fee arrangements:
  • Flat fee: For certain types of engagements, such as policy development or training, we may offer a flat fee that covers all aspects of the project from start to finish.
  • Hourly: For more complex engagements, we may bill on an hourly basis. This allows us to provide flexible and customized support that is tailored to the specific needs of the client.
  • Block rate: We also offer block rates, which provide a discounted rate for a set number of hours or a specific scope of work. This allows clients to budget for their services and have greater predictability around costs.
  • Contingency: In certain cases, we may offer a contingency fee, which means that our fees are contingent upon the outcome of the case. This can be an attractive option for clients who may not have the resources to pay for fees upfront.
Our fees are always transparent and we work closely with our clients to ensure that they are comfortable with the fee structure before we begin our engagement. We are committed to providing cost-effective and efficient services that meet our clients’ needs and budget, and we are always available to discuss any questions or concerns that arise.

Contact us today to discuss how we can help fortify your business against strategic risks.

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