Dan Laufer comments on crisis management at Toyota
Associate Professor Dan Laufer was one of three crisis experts asked to evaluate how well Toyota has handled a recent situation
A/Prof Dan Laufer, head of the School of Marketing & International Business
Associate Professor Dan Laufer was one of three crisis experts asked by the Wall Street Journal to evaluate how well Toyota has handled a recent situation, where it's shined, where it's stumbled and what it should do next.
Dr Laufer, commenting in Crisis of the Week: Toyota’s Oxycodone Conundrum, said companies need to consider key stakeholder concerns when dealing with a crisis.
"In the case of Toyota and the arrest of its executive, Julie Hamp, two key stakeholders that are involved are foreign executives and the police.
"Toyota’s president, Akio Toyoda, did a good job in his news conference, however this crisis is in its early stages, and it remains to be seen how events will unfold."
The 'Crisis of the Week' series provides news and commentary to corporate executives and others who need to understand, monitor and control the many risks that can tarnish brands, distract management and harm investors.
This is the third time Dr Laufer, who is head of the School of Marketing and International Business, has featured in the series during 2015.
He also provided commentary for Crisis of the Week: Royal Caribbean Goes Overboard and Crisis of the Week: ESPN, McHenry’s Tow Truck Tangle.