Does information governance include “crisis management”?

If “information governance” is how you go about managing the receipt, creation, use, storage, transfer, transmission, and disposal of all non-public information received or created in the course of a company’s business, then by definition the term touches upon how your company handles information in a crisis.

“Wells Fargo’s Botched Crisis Management,” The Wall Street Journal, October 14, 2016 A1.  Company and its senior management were excoriated for how they handled the account-shoving scandal.  Sure, over the years (3) they fired 5,300 employees, but the board didn’t know how many employees were fired until the outside regulators reported it.

How did senior management learn of the problem?  What did they do and when did they do it? How did they manage their receipt of that information?  How did they handle communications with the board, inside the bank, and the regulators?  And the press? Not well, one might surmise.  What impact on their brand?

I am not suggesting that the person (vel non) who “owns” information governance also “owns” crisis management, but certainly a poor crisis management response is one of the risks of poor information governance.  The consequences can be huge.  Did the board effectively oversee the operations?

 

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Filed under Board, Business Case, Collect, Communicate, Communications, Corporation, Culture, Definition, Directors, Duty, Duty of Care, Employees, Governance, Inform shareholders, Information, Investor relations, Management, Oversight, Oversight, Risk, Use, Value

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