It is very important for companies to develop crisis plans. Many companies do this but they tend to leave major gaps in their plans that need to be fixed.

The single, biggest gaps I've seen in crisis plans is most of them tend to be emergency response plans. They're not really full-fledged crisis preparedness plans. They deal with fires and earthquakes and disasters. They do not deal with lawsuits or sudden loss of management. They do not answer as a question, "If you lost your primary place of business today, do you and everybody in your company know where they would do business tomorrow?" They do not answer "What do you do if there's a sudden run on your stock on Wall Street?" They don't answer the corporate disasters. They may just handle the operational disasters.

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