Business Studies, asked by dhruvmanoj8873, 1 year ago

Write a short note a strategic approach to crisis management

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Answered by missverma
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.. Crisis management is a composite and obscure field of research (Burnett, 1998;Heath, 1998;). Crisis management refers to an integrated and extensive effort that organizations put into action with the intent to understand and prevent crisis, and to effectively manage those that occur, considering the interest of their stakeholders in each and every step of their plans and trainings (Santana, 2004). ...

... In this sense, it is, hence, crucial for organizations to be prepared for crises to cope with their potentially negative impacts (Augustine, 1995;Fink, 1986;Heath, 1998;Pearson and Mitroff, 1993). Even if the negative impact of crises seems to have been greater, crises may also have positive impact and provide opportunities for organizations (Burnett, 1998;Fink, 1986;Kovoor-Misra et al., 2001;). On the one hand, crises have frequently been damaging outcomes involving a diminish in demand and revenues, ascendant costs, the disturbance of natural operations, defects in communication movements and in decision making, staff lay-offs, the abandonment of investments, tense living and business environments, and the closure of organizations (Kash and Darling, 1998). ...

... Parsons (1996) assert that a pre-crisis, managers enjoy significant responsibilities to fulfil, such as gathering the indispensable data, remarking and analyzing the signals that a crisis might happen, recognizing its reasons, making crisis plans, creating a crisis team and building good communication channels. Organizations can avert or mitigate some crises' negative fall-out so as to achieve this, senior managers should believe in the importance of crisis planning and management (Burnett, 1998;). The purpose of crisis management and crisis planning is, hence, to enhance the crisis preparedness of the organization ( Rousaki and Alcott, 2006)

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