Responsible management of a crisis can pay either dividends or be quite costly for years to come as the commissioner of Major League Baseball, and CEOs of Johnson & Johnson and Exxon would attest.

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Responsible management of a crisis is crucial for organizations, as demonstrated by historical events involving Major League Baseball (e.g., handling of steroid use), Johnson & Johnson (e.g., Tylenol tampering crisis), and Exxon (e.g., Exxon Valdez oil spill). These cases show how crisis management can significantly impact an organization's reputation and financial standing over time.

Responsible Management of a Crisis Can Pay Either Dividends or Be