How should a company respond to negative publicity?

What will be an ideal response?

Another role of public relations personnel is managing a crisis. Damage control is a company's effort to minimize the harmful effects of a negative event. Negative publicity can, in a matter of days, tear down a firm's image that took decades to build up. Sometimes, bad news doesn't come from the media but from word of mouth, which is especially easy given the viral nature of social media. In the event of bad news, a company must stand ready to react–and react quickly. No easy remedies exist for crises, but being honest, accepting responsibility, and responding ethically are the first steps toward regaining credibility and reestablishing a positive image.