Consider Crisis situations in Business and the recommendations for how to handle crisis communications. Review the sampling of responses from four financial institutions: (Be sure to scroll all the way down the page on these messages)
NOTE: If the links do not bring you direclty to the site, copy the link and paste it on your browser.
Bank of the West:
https://www.capitalone.com/about/newsroom/a-message-from-rich-fairbank/ (this link is tricky, so you may have to copy and paste in your browser)
California Credit Union:
Keep in mind the recommendations for managing crisis communications from Appendix V. As someone who is living through the current health crisis, think about your reaction to these business communications. Which of the four messages did you find most effective? Which of he four messages did you find least effective? Which one would you like to receive? Why?.
Interact with your classmates, such as complimenting (e.g. I like that), commenting (e.g. I was surprised to learn that), connecting (e.g. I would also add that) or questioning (e.g. How were you able to do that?)
Share your own thoughts and your reaction to two posts from your classmates to receive full credit. (20 points)
Remember one year ago (it seems so long ago) when the pandemic first broke out. You probably received a flood of emails from companies with whom you do bunsiness, all talking about the pandemic. Did any of those stand out to you? Or, after a while, did you ignore the messages because they either seemed the same or their words seemed hollow, given the intensity of the pandemic situation.
What would you have liked to have heard from businesses during the pandemic? evaluate these messages and let’s see which ones resonated with you most or which ones did not deliver or encode the messages you needed.
Post your thoughts to the quesitons identified in the forum and interact with two of your colleagues for full points.
Two colleagues respond:
Felix Valadez :
Communication is an essential tool as well as a function of the media. Ideally, it is through communication that people learn about messages or news concerning crises. Communication is necessary to enable businesses to manage crises as well as to develop or to enlighten the populace by furnishing them with updated information, news, or messages that are crucial in helping the people to know the extent of the crisis and what is being done to overcome the crises.
Following the outbreak of the COVID-19 pandemic, individuals and households were relying on the media to furnish them with statistics of how the pandemic was spreading. Some notable business communications following the outbreak of this pandemic include those of Capitol One, Bank of the West, and PayPal, and California Credit Union. When these crises occurred, these corporations made announcements on the media on how the COVID-19 pandemic has affected their operations and the new policies going forward.
The communication or rather the message I found most effective is the one by PayPal since it was precise and was quick or prompt in emphasizing how online transactions and payments will be affected going forward thereby leading to the introduction of the new policy. The message that I found to be least effective is the one by Capitol One since it lacked persuasion as to the need for new policies and their impact. The communication of the message that I would like to receive is the one on the California Credit Union. The reason for selecting this message is that I would want to know how the outbreak of the COVID-19 pandemic has implicated the credit sector and the need for a change of policy.
Overall, communication is necessary to enable businesses to manage crises as well as to develop or to enlighten the populace by furnishing them with updated information, news, or messages that are crucial in helping the people to know the extent of the crisis and what is being done to overcome the crises.
Jose Vazquez :
Just watching everything shut down and seeing how big of an impact this covid-19 had on everyone is insane. It is crazy to think that last January I was in Puerto Vallarta living my best life with no idea how the world was going to change forever. When things started to shut down I did start receiving so many emails from big companies like Amazon, my bank, retail stores on what steps there taking to moving forward with this pandemic. The email that stood out to me the most was for the company I work for and that was Marshalls. The CEO of Marshalls send an email right away when his stores closed down and had many of it workers including me unemployed. Something equine about the email had a warm feeling that everything was going to be ok and that we would get past this together. It ensures that it would continue paying many of its employees for at least a month and ensure that once we open again everyone going to have their jobs back. During these crazy times that we are living in right now things that I would like to hear from the business is how are they coming together as a whole to help the people that effect by this pandemic? How do plan to continue giving services to its customer but in the safest way? what are the next steps? to get an idea towards the companies future.
From the four messages, the one I found more effective was Bank of the West. The reason why I found this message from the rest was because had all the information you needed from a business company. It was clear, helpful, and had a warming message of working together. The least effective one was California Credit Union. The message from the CEO wasn’t the best way because it didn’t give you a sense of hope or a warm feel. It was too short and didn’t give a lot of information. The one I would like to receive would be the one from Paypal. Why because it started forward and had information on how it was going help its customers. It also showed you how was going to help other small businesses and the efforts its doing to adjust to the new normal.