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Crisis Management - Research Paper Example

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Crisis Management: A Brief Study Table of Contents Introduction 3 Defining Crisis 3 Defining Crisis Management 4 Discussion 4 Types of crisis 5 Crisis Management: A Business Case 6 Facing Crisis 7 Conclusion 8 Recommendation 8 References 10 Introduction An individual, an organization, a government, or the global economy at any point of time may face debacles…
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Crisis Management
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"Crisis Management"

Download file to see previous pages This report will present a brief overview of crisis associated with the companies that is, organizational crisis will be the main area of study. In addition, this report will also present insights of the modern crisis management techniques adopted by organizations around the world. Furthermore, the report will also throw light on the cases where companies have faced crisis situation and how they dealt and overcame that situation. In this context the company which has been chosen to depict the importance of crisis management and also to reveal how the company surmounted the situation is Nokia. After that, depending upon the findings of the literature study a conclusion will be drawn. Finally some recommendations will be also provided by which will assist companies to address different forms of crisis. Defining Crisis Eminent scholars have stressed on the fact that crisis is a threat to organizations, an unexpected element and short periods of risk (Akers, 2007, p.11). It can affect every segments of the social order that include educational institutions, non profits, churches, business, families, government etc. This study will however focus on the issue in the context of an organization. For an organization crisis can be illustrated as an anomalous and uncharacteristic situation or perception, which is beyond the control of an organization and also threatens to impact their operation. Several cases have also pointed out that if a possible crisis is identified at the initial stage, it will have least impact or the impact can be minimized to a large extent. On the other hand if a company fails to determine the possible crisis at the initial stage, it can adversely affect the operation of an organization. Even in some cases, a crisis can also threaten the survival of a business. Hence for them to survive and operate effectively in the market place, superior crisis management techniques and tools should be in place (Fearn-Banks, 2010, p.2). Defining Crisis Management Crisis management is simply defined as a systematic effort to circumvent or manage the crisis that an organization may face during its lifetime. The concept of crisis management was initiated during the 1980s, when large number of environmental and industrial disasters took place (Barton, 2007, p.5). In order to manage a crisis effectively an organization should consider a systematic approach towards the improvement process as it is indispensable to safeguard the reputation of company along with its brands. Therefore companies should enlighten their customers about the happening and to some extent is necessary for survival (Khodarahmi, 2009, p.524). Additionally, eminent scholars such as Appelbaum, Keller, Alvarez & Bedard (2012) added that relatively modern concepts such as strategic planning can also be effective in managing organizational crisis to a satisfactory level. The authors also put emphasis on the fact that a number of US corporations are employing this concept to forecast and deal with the issues, threats or problems that are beyond the operating control of the firms. Discussion Eminent scholars such as Dinant and Miller have identified seminal researchers in the same field of study. They categorized the study into two major groups namely macro and micro sizes. The primary intention of their study was to offer insights regarding the most committed ...Download file to see next pagesRead More
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