The damage a crisis can do,can be averted to a huge extent, by first accepting it and then by being honest about it with the people who are affected by it.Being transparent about things makes it easier and gives us enough bandwidth for us to focus on the bigger problem at hand. Every stakeholder at their level are answerable to someone and the least one can do is by giving them the reality as is, instead of mincing the words.Trust is built by being honest and transparent especially during crisis and when every stakeholder starts to trust each other half the battle is won and a lot of damage control can be done irrespective of the quantum of crisis.

In times of crisis, candor and a sense of frank openness are what the stakeholders should be faced with in communication. State the facts openly, describe what actions are being taken in order to rectify the situation, and actively listen to concerns. Accountability and openness go a long way in trust-building, even in difficult situations.

En una crisis con stakeholders, la transparencia y honestidad son esenciales para preservar la confianza. Comunica los hechos de manera clara, reconociendo la situación sin minimizar su gravedad. Comparte los pasos que estás tomando para resolver el problema y establece plazos realistas para actualizaciones. Mantén canales abiertos para preguntas y responde con empatía, mostrando compromiso con soluciones sostenibles. Complementa esto con un informe final detallado al resolver la crisis, destacando aprendizajes y mejoras implementadas. Este enfoque refuerza la credibilidad y fortalece las relaciones a largo plazo. #TopVoiceMMorgan #StakeholderCrisis #LeadershipInAction

1. Acknowledge the Issue Promptly Avoid delays in communication. Silence often breeds speculation. 2. Provide Context Without Excuses Frame the problem with data and facts, but avoid deflecting responsibility. 3. Communicate Regularly Establish a predictable cadence for updates. Whether the news is positive or challenging, consistent communication demonstrates your commitment to openness. 4. Empower With Action Plans Go beyond describing the problem—share the actionable steps being taken to address it. 5. Be Empathetic and Solution-Focused Acknowledge the impact on stakeholders and show empathy for their concerns. 6. Involve Stakeholders in the Solution Invite feedback or collaboration where appropriate.

Open communication is crucial at every stage of a company’s development, not just during times of crisis. Positive spin, fact concealment, or self-justification only lead to collapse. That’s why transparent dialogue with stakeholders isn’t just helpful—it’s essential. Especially in challenging times, honesty and openness pave the way for trust and long-term success.

1. Be calm and composed during the crisis 2. Step back and retrospect what went wrong 3. Gather as much data and metrics as possible and correlate it with the problem at hand. You will get most of the answers. 4. In crisis over communication is better. Provide constant and consistent updates to stakeholders. 5. Show the progress incrementally everyday. 6. Create a crisis management team and let their only focus is to get us out of this crisis. support and encourage them. 7. From executive level meet often with stakeholders to provide them updates and give them confidence that you are there for them. 8. Implement solutions as quickly as you can to gain confidence back. 9. Provide RCA 10. Have processes to proactively handle such situations.

Maintaining transparency and honesty during a stakeholder crisis requires clear, proactive communication. Acknowledge the issue promptly, providing accurate and relevant details without withholding critical information. Focus on the facts, the impact, and the steps being taken to address the situation. Avoid speculation and commit to providing updates as new information becomes available. Demonstrate empathy by acknowledging stakeholder concerns and showing accountability for resolving the crisis. Maintaining open channels for feedback and questions fosters trust and reinforces your commitment to finding a solution collaboratively.

Transparency and collaboration were pivotal during a complex tax liability issue I managed at Emitac. Initially unidentified, the liability surfaced at SAR 97 million during my involvement, later swelling to SAR 162 million with all penalties. Recognising the magnitude, I prioritized clear communication, promptly aligning stakeholders with the challenge at hand. By fostering collaboration among internal teams, legal advisors, and tax consultants, we strategized effectively, ensuring all voices were heard. Regular updates and data-driven decisions built trust, allowing us to negotiate the liability down to SAR 14.7 million. This experience reaffirmed the power of honesty and teamwork in overcoming crises.

El tener una comunicación asertiva en todo momento con todos los involucrados en el funcionamiento de la empresa desde el nivel operativo hasta los mandos medios hasta llegar a los órganos de administración y dirección

Simply, if the transparency is part of my daily business details, this situation will never appear at any time. In addition, at the crises time, everyone have to keep calm until everything became regular and we back to the regular business, then we can talk in any details.