Notesale: Turn your study into money

Document Preview

Extracts from the notes are below, to see the PDF you'll receive please use the links above

---

CRISIS MANAGEMENT
A crisis is defined as any event or period that will lead or may lead to a sensitive and
dangerous situation affecting an individual, group, or all of society
...
Different types of crises may arise within an organization:
•

Technological issues

•

Violence e
...
, terrorism, thefts, crimes, and scandals

•

Employee dissatisfaction

•

Neglecting minor issues

•

Illegal behaviour e
...
, fraud, extortion, data leaks, information tampering, bribes

•

Financial problems

•

Natural factors e
...
, floods, earthquakes, volcanoes, drought etc

To tackle these types of situations, every organization should have a crisis management
framework
...

Smaller companies are often unaware and rarely have a crisis plan in place
...
Since a crisis can affect any
organization at any time, advanced planning is the only key to the survival of any business
...

Importance of Crisis Management
1
...
The plan
decides who will manage or call the shots during the crisis
...
Helps to keep everyone safe

There is no way to avoid the effects of the crises without a proper plan B in place
...
For example, a well-defined emergency response strategy will help you make
every second count
...
Minimize damage in both revenue and reputation
A crisis management plan makes it easy to identify and prevent a crisis before it takes place
or before it gets out of hand
...

4
...

5
...


Crisis Management Plans
To tackle any threatening crisis, a proper method and plan must be used for effective crisis
management
...
The
following steps are involved in building a crisis management plan
...
Your team should consist of people who can take action
during a crisis
...

Step 2: Assess risk
To start the planning process, have a deliberate session to evaluate various risks your
company may face
...
A risk register can reduce progress delays and prepare for possible setbacks
...

Step 3: Determine the business impact
Once you have spotted the high probability risks that could affect your company, figure out
the business impact of these risks with the help of your crisis leadership team
...

Step 4: Plan the response
After determining the business impact, take each risk you have spotted and decide what
actions your team will need to take to counter the threat if it happens
...
A crisis management plan
should consist of key items such as an activation protocol and emergency contacts
...

Step 6: Review and revise
Upon completing a crisis plan, check the final product to secure there are no gaps
...




---