Crisis scenario exercises range from desktop walk-throughs to fully simulated live rehearsals with actors, but can staging a fictitious terrorist attack or concocting a corporate scandal really help corporations to prepare for a crisis? ArcelorMittal thinks so. For its crisis management in response to the Ebola virus, which began in a village close to its plant in Liberia, the global steel and mining company is shortlisted for an Institute of Risk Management Award for Excellence in the Face of Adversity this year.
ArcelorMittal regularly trains staff to respond to crises, whether at plant, country or global corporate level. Every week it has on call a crisis team of 10, who must stay within four hours’ commute of its headquarters in Luxembourg. A live simulation of a crisis at global corporate level is rehearsed yearly. The most recent one, involving the fictitious failure of a nuclear power reactor in France, led to a radioactive cloud drifting towards three of the company’s French plants before a change in the wind direction diverted it towards Luxembourg. READ MORE OF THIS STORY