1. How Boards Prepare for an Unpredictable Crisis

    How Boards Prepare for an Unpredictable Crisis

    Planning for a disaster, such as a hurricane, is ongoing, said Constantine Alexandrakis, member of the Board and CEO Advisory Group at executive ...

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    1. It's very hard to predict what the crisis might look like.
    2. The degree to which boards have a plan has to do with the culture of the company and the industry.
    3. The oil and gas industry is extraordinarily good at planning, and that includes disaster planning.
    4. The bigger concern now is crude supply and product distribution for plants further east in Houston.
    5. Any single failure in a business's supply chain can cause problems throughout the company.
    6. With a natural disaster, its location and asset specific.
    7. Few companies have contingency plans for an all-out war between the U.S. and another country.
    8. As a company, we have no specific comment on this issue other than to say that we would follow any guidance or emergency response plans put in place by the competent government authorities in Japan should this be the case.
    9. A company, because it is a smaller and well-defined universe, can be much more efficient and targeted in its response than a government can be.
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