Effective Crisis Management through Established Stakeholder Relationships

Abstract

This article investigates the postcrisis communication of Aaron Feuerstein, chief executive officer of Malden Mills, after a fire destroyed his textile mill. It explains how leadership communication prior to a crisis has an impact on postcrisis communication. Stakeholder theory is used to ground the analysis and to provide direction in developing practical implications for precrisis and postcrisis communication. The analysis demonstrates the importance of establishing strong communication channels and positive value positions with stakeholders well before crises erupt.