Crisis Management Report: Mitigation Strategies for Business Crises

This report delves into the realm of crisis management, examining several types of business crises and their corresponding mitigation techniques. It begins by defining a business crisis as a situation that poses a direct threat to an organization's stability. The report then explores various categories, including financial crises, where the company's financial standing is at risk, and suggests revenue reanalysis as a solution. It addresses personnel crises, where employee misconduct is involved, and recommends disciplinary action. Organizational crises, caused by customer dissatisfaction, are tackled by suggesting changes in organizational culture. Technological crises, arising from technology failures, are addressed by collaborating with IT employees. Finally, natural crises, such as natural calamities, are addressed by emphasizing proactive building designs. The report concludes with a list of references used in the research.

Running head: - CRISIS MANAGEMENT
CRISIS MANAGEMENT
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Author Note

1CRISIS MANAGEMENT
Table of Contents
1. Occurrences of crisis management.........................................................................................2
2. References..............................................................................................................................4

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1. Occurrences of crisis management
Business crisis refers to such situations where there is the arousal of a problem having
a direct impact upon the stability of the organization putting the business flow of the
organization at risk (Williams et al., 2017). Such situations have been mentioned below with
the mitigation techniques of the same.
Financial Crisis
This refers to a situation where the company specifically loses the value attached to
the assets as well as where the company loses the potential capability to pay for the debt
along with the services that they provision the customers.
This situation can be dealt by reanalysing their revenue sources as well as to search
for the newer ways to generate the incoming revenue to increase the margins associated with
their financial model.
Personnel crisis
This is the scenario where any individual belonging to the company has been found
guilty of being involved in any unethical activity or some kind of a misconduct (Bundy et al.,
2017).
In regards to this situation, the company needs to assess the conduct of the employee
and take appropriate disciplinary action against the same.
Organizational Crisis
This is a situation where the company has wronged all of the serving customers by
benefitting from their set of customers rather than implementing methods to satisfy them.

3CRISIS MANAGEMENT
This crisis can be best addressed by changing the organizational culture since this
specific situation comes up due to selective employees who do not pay heed towards the
needs of the customers.
Technological Crisis
This particular crisis occurs when the technology working within an organization
crashes leading to various halts caused within the business procedures of the organisation
utilizing the technology present within the same (Eriksson, 2017).
The best method to address this particular situation is to sit with the IT employee of
the organization and to resolve the issue with the appropriate measures to get back the
business related activities on track.
Natural Crisis
This can be related to such conditions where any relative natural calamity can have an
effect upon the business organization such as the like of an earthquake.
The primary method that needs to be taken up for dealing with such situations of
natural calamities is to be proactive towards the building the structure of the office resistive
to such harsh natural conditions.

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2. References
Bundy, J., Pfarrer, M. D., Short, C. E., & Coombs, W. T. (2017). Crises and crisis
management: Integration, interpretation, and research development. Journal of
Management, 43(6), 1661-1692.
Eriksson, J. (2017). Threat Politics: New Perspectives on Security, Risk and Crisis
Management: New Perspectives on Security, Risk and Crisis Management. Routledge.
Williams, T. A., Gruber, D. A., Sutcliffe, K. M., Shepherd, D. A., & Zhao, E. Y. (2017).
Organizational response to adversity: Fusing crisis management and resilience
research streams. Academy of Management Annals, 11(2), 733-769.