Far too often I hear companies panicking over how to handle a particularly challenging round of bad publicity. Even the big ones like BP and Air Canada seem to flounder when first hit with bad press and yet this is something that should be included in every business plan before the company even opens its doors.
Identifying risks associated with running your business is a good start but not enough. Yes, do your SWOT, develop a PESTE and write out how you’ll minimize the threats, capitalize on the opportunities...but...how are you going to handle things when the media turns on you? Running through all foreseeable scenarios and putting a tactical framework together may save you big headaches down the road.
Another important note: update this part of your business plan whenever you have major changes in your operation. New products added? Service changes? Different manufacturing methods? External and competitive environment changes?
Hopefully you will never have to employ major crisis management tactics but being prepared just in case is part of comprehensive business plan development.