The world faces a new crisis situation more or less every day—be it political, economic, or humanitarian. Wherever a crisis is experienced, echoes are felt around the globe. In the digital age, social media conveys crises in real time, resulting in rich portfolios of pictures, videos, written records, and more.

In this hyper-connected world, executives face unprecedented challenges regarding crises. With mobile phones in hand, not only do executives encounter problems constantly, they also are now expected to solve them straightaway.

 …