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Crisis Awareness and Organizational Audit - Essay Example

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Summary
A crisis is an emotional or/and a physical reaction to some event or a series of them. Crisis in business can occur in many forms; strikes, drop in sales, recall of products, allegation of bad image e.t.c The below case was reported about twin mortgage finance giant companies in the U.S due to continued mortgage foreclosures.
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Crisis Awareness and Organizational Audit

Download file to see previous pages... The companies however must be aware of the underlying danger due to competition from other companies, especially the international ones. The companies reduced reputation may also mean loss of market and sales. The company must take caution on the arising effects of mortgage closers and move ahead to repair the damage by restoring trust among the clients.
The companies need good and aggressive leadership to be able to forecast on what to do the arising crisis. Enough time and cash is also needed to be able to remunerate its workers well, plan and carry out research on available methods of dealing with every crisis. The companies also need creditors to be able to supply enough cash to sustain it during the crisis e.g. low sales. Legal and business advisers are also necessary to help the company come up with viable changes that are befitting and reverting the crisis.

(See http://www.nationmultimedia.com/worldhotnews/read.phpnewsid=3008276 ...Download file to see next pagesRead More
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