GLOBAL CRISIS

The financial crisis of 2007–2008, also known as the global financial crisis and
the 2008 financial crisis, is considered by many economists to have been the
most serious financial crisis since the Great Depression of the 1930s.

We are now in a global crisis. The crisis is just beginning,

although the causes of the crisis have been building up for
decades. At first, the changes were almost imperceptible.
Recently, more dramatic changes have been noted. Melting of
galciers, ice caps, land ice. Rapidly rising ocean temperatures.
Rising sea levels. Extreme weather events. Drought.

These phenomenon are not just signs of climate change. They are
the signs of a crisis. Because climate change has led us to a global
crisis, that goes well beyond climate change, into every aspect of
human life on Earth.
Our global crisis is not just environmental. It is economic,
because the world economy is going to be affected by it. lt is
social, because billions of people will be affected by it. It is
political, because to solve the crisis, nations are going to have to
compromise on an agreement to limit emissions at a time when
the global geopolitical situation seems to be getting worse every
day, driving nations apart when they should be coming together
to work to solve climate change.

Most crises are made worse because enough people deny there is
a crisis, early on. And then, when the crisis comes, not enough
action had been taken early, to try to stop the crisis before it could
become deadly serious. This is how it was with the crises of the
first two world wars, and that is how it is now, with climate
change. The world recently commemorated the 100th year
anniversary of the start of the First World War. That crisis
erupted, out of the blue, many thought, because the situation in
Europe was more precarious than people thought. They went into
denial. And then, when war came, they could not believe such a
horrible thing could happen to them. Because Europe had been in
such a relatively peaceful and stable state until 100 years ago, and
the events that were occurring before the outbreak of war did not
on the surface seem to be so terrible. But there had been signs of
an imminent crisis. And then, when the crisis finally came,
sparked by one event, World War I began and one of the greatest
horrors humanity has ever known unfolded in that war. Climate
change, if not address soon, may also become a horror, a
catastrophe, over time, and it has the potential to become a far
greater catastrophe than both of the two world wars combined.

Crisis Preparedness as the next competitive advantage: Learning from

4,500 crises
2,000 companies. 4,500 crises: Here’s all you need to know
We are pleased to present PwC’s first-ever Global Crisis Survey, the most
comprehensive repository of corporate crisis data ever assembled. We heard
from 2,084 senior executives in organisations of all sizes, in 25 industries, and
across 43 countries — 1,430 of which had experienced at least one crisis in the
past 5 years, for a total of 4,515 crises analysed overall. What we found out is
game-changing.

By delving deep into the real-world experiences of organisations like yours, we

uncovered some surprising findings, many of which turn the basic notion of
crisis management – in fact, how we even think of crisis – on its head.

Instead of “admiring the problem,” we’ve used this data as a springboard to

reverse-engineer a successful crisis response. We looked at the companies
that self-identified as having emerged stronger from their worst crisis – and
compared them to those who did not fare as well.