Question

What is meant by crisis management? Why do many organizations find themselves in this mode? Using your own experience, identify and describe a situation that could be considered as crisis, and create a simple risk management plan that could have prevented that crisis.

Answer 1

A crisis is defined as the potential threat to any operation, if not handled properly can result in serious consequences. In any organization crisis can develop following related threat:

• Threat to the manpower safety
• Financial loss
• Reputation loss

Hence crisis management is very necessary to be controlled in a proper way and within time otherwise the serious problems may arise.

• Moreover the crisis management is a critical organizational function and should be taken with utmost care. The failure can result in serious harms to stakeholders as well as losses for an any organization on largescale.
• In the crisis many management finds the way to tackle that situation. The organizationals top leaders have a meeting and discuss the root cause of the crisis. In my opinion to find the root cause of the cris is the key step in any crisis management. Then there is need to find the best possible solutions in the particular sitiations as per the best available resources.then there is need to make a proper plan folloed by the scheduling of the implementation of the plan as per the set deadlines.

Hence by following the above crisis management plan we can be able to prevent the crisis.