When Tweets Go Wrong

In the last three days, news stories across all media formats have been consumed with the inappropriate tweets of a sitcom actor and the ensuing fallout. From a risk management perspective, the results have been calamitous to say the least. Swift action by ABC resulted in an abrupt cancellation of the remake of a popular TV series. Hundreds of writers, actors, supporting cast and crew members are out of jobs. A network has suffered the loss of a hit series that was a gamble in the first place by centering the sitcom around the name recognition of a single star.  Having relevant Enterprise Risk coverage in place, such as that offered by Oxford, may help ease the potential losses that will invariably be incurred. Examples might be contractual liability or reputational risk. Unfortunately, even when it looks as if a risk is paying off, events and fortunes can swiftly change. Be prepared with the proper risk management program in place!