Arbitration- A Great Dispute Resolution Tool in Korea Korea, like other countries has acknolwedged the concerns its companies have over international litigation. And Korea, like other countries has jumped on the arbitration bandwagon. Arbitration is a contractual mechanism that parties use to avoid litigation. As it is a contractual mechanism, the parties are free to […]
I recently gave a lecture on negotiating with South Korean companies to a group of business students. I realized that not only most employees are never trained in negotiations but that many business students are not exposed to the art of negotiating as well. It is true that when thinking about risk management, especially in an […]
You may already be in a crisis and not know it----One of the main problems with managing a crisis is that the crisis event may have occurred long before a company realizes it is actually in the middle of a crisis. Companies tend to disregard the warning signs of a crisis up until the very […]
Companies that fail to recover from a major crisis exhibit certain signs before and during the crisis. Some of them are as follows: Warnings get ignored- they fall through the cracks Executives are overwhelmed or don’t know what to do Management is slow in forming a crisis management team Who makes decisions? No one knows […]
In Order To Suvive A Crisis A Company Must Have An Effective Communications Strategy The principle focus of any crisis management strategy, especially in an international contest, is communications. All crisis management plans call for effective crisis communications, which many times are not always executed. Inadequate or failed communications lead to bad publicity, unhappy stakeholders, […]
The 6 Common Mistakes Or 6 Best Practices That Will Hurt Or Save A Compnay A crisis happens quickly. Speed, knowledge and communication are vital if a crisis is to be handled correctly with minimal impact on a company’s bottom line or reputation. Unfortunately, some companies fail to resolve the crisis and fall into the trap of […]
