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Isaac Guzman
Economics 170
Prof
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The way a company responds to these
crises determines whether it will fail or succeed
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There are
some emergency situations that occur in a company that require immediate action to ensure that
they do not negatively impact the company
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However, this does not mean that businesses must fail
when faced with a crisis; with an effective communication plan, a company can overcome any
crisis
...
This
includes crisis prevention, planning, evaluation, and mitigating and mitigating the crisis's
consequences
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A crisis can occur naturally or as a result of personnel or other stakeholders'
negligence
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Corporate crisis management is the process by which a company responds to emergencies by
utilizing effective communication strategies or channels
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Everyday life includes
crisis management
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An emergency can be caused by a mistake made by one of its stakeholders, a personnel issue, or
a violation of one of the rules
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Consumer trust is
linked to a company's social responsibility
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Every organization can avoid a crisis
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An intentional problem can be caused by management, employees, or other
stakeholders' negligence
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Some may choose to ignore them or discontinue production of a particular product
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This would have reduced the company's marketing costs for
reintroducing the product, but it would not have guaranteed its success
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It is
advisable to deal with a crisis as it occurs and to ensure that the crisis management team is well
trained and equipped with the necessary resources to ensure that a company's financial stability
is maintained, both in the short and long term
...
This ensures
that the organization's available resources are not depleted and that it can deal with the problem
at hand
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“The Tylenol Crisis, 1982
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Web
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plutobooks
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crises-control