Effective Crisis Management

May 17, 2022by Faber Infinite

Any organization, big or small, any sector or industry comes across a crisis situation for sure. Whether this situation arises out of internal or external factors the only objective of the organization is to keep the organization and all its stakeholders optimistic. This is when the management needs to get into action. Management needs to prepare themselves for crisis management. They need to adopt an attitude toward good crisis management. 

First, we need to understand the different types of crises that exist. This Transformation Tuesday let us look at the top 8 crises that can cause major harm to the organization:

  1. Strategic Crisis – This happens when the turnover of the organization is decreasing or is static. This crisis is the result of poor communication strategy and poor understanding of the competition in the market.
  2. Pandemic/Public Health Issue – When public health is at risk due to some pandemic or any other unavoidable health issue. There need to be preventive measures that are thought of in such cases. There is also a need for a business continuity plan. If any of this is not in place, it can lead to serious problems.
  3. Climate / Natural Disaster – Unfavourable climatic conditions or even a natural disaster can cause harm to the organization. 
  4. Social issues – Employee well-being and work-life balance should be taken care of. Any kind of conflict within the organization should be resolved immediately and effectively.
  5. Information Technology – A technology crisis can occur due to any sort of cyberattack, that can endanger the performance of the organization
  6. Media – Any sort of bad news about the organization in the media, can spoil the reputation of the organization thus damaging public relations. If there is any social media crisis, then it requires impactful internal and external communication.
  7. Organizational – Takeover of the organization, or any change of management, intense organizational transformation, and many other factor can affect the organization negatively if the crisis management system is not in place.
  8. Economic factors – Any financial or economy-related crisis at the national or global level will also impact the turnover of the organization. 

As we have seen, there are different types of crises that can occur. Organizations should create realistic and effective action plans for different types of crises. To achieve this the management should mark new milestones that define the progress of crisis management. The action plan should be clear, as clear as the action plan is employees are more confident about the strategy being implemented.

Written & Compiled by Faber Mayuri

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    by Faber Infinite

    Faber Infinite is an International Business Management Consulting Organization offering consulting solutions and services for Increase Profitability in Business.

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    Taking seamless key performance indicators offline to maximise the long tail.

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