Information Value Distance and Crisis Management Planning

Organizational learning during and post-crisis is well established in the management literature but consideration of learning for crisis and the sources of information perceived to be useful for crisis management planning have not previously been examined. This study evaluates data from 215 U. K.-based small-and medium-sized enterprises (SMEs) about the perceived value of 11 sources of information between planning (i.e., firms with a crisis management plan) and non-planning respondents. For planning firms, the information sources considered to be useful are exclusively experience-based, and when information sources become less idiosyncratic and episodic, planning firms' evaluations of their value begin to approximate the ratings given by non-planning firms. Furthermore, the concepts of relative value distance and value distance from threshold are original features of this study and offer new ways to evaluate the value of information sources for organizations wishing to provide information and support to improve business resilience and business continuity.