How to tackle failures with Crisis Management?

  • 3rd Dec'20
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Crisis management is a critical organizational function. Failure can result in significant harm to stakeholders, losses for an organization, or end its very existence. Public relations practitioners are an essential part of crisis management teams. So a set of nicest practices and tasks gleaned from our knowledge of crisis management would be a very valuable resource for those in any field.

 

Must Read: Time Management Equivalent to Life Management

 

Why is Crisis Management Marketing important?

Crisis management planning isn't only about being reasonably equipped to respond to specific incidents effectively. Formulating a crisis management plan also helps teams identify possible threats as they plan and game out the tasks, communications, and information they may require to deal with those threats.

Another benefit of crisis management planning is that it can help firms mitigate possible legal exposure in the case of a crisis – disclosure to the organization and senior stakeholders.

 

Click here to know about the different benefits of crisis management and how beneficial is it to have a crisis management plan in the market: 

The Necessity Of A Crisis Management Plan 

Crisis management is the need of any business organization to combat with a difficult situation. Here is the way you can strategize your plan. Read more.

Why Crisis Management Is Important For Business

Reacting to a crisis is the no way solution, but forecasting a crisis and plan accordingly is the smart way to tackle it. Read more.

How important to plan for a crisis beforehand

Every business at some point faces crisis. It's good to plan and be proactive about it rather than reactive. Read more.

 

Crisis Management

 

Type of Crisis Management 

There are five types of crises that might have a consequence on your organization.

1. Financial Crisis: A financial crisis occurs when a business falls value in its assets and can't afford to pay off expenses. 

2. Personnel Crisis: It occurs when an internal stakeholder of the organization is accused of an illegal or unethical downfall that affects the company's reputation.

3. Organizational Crisis: Organizational crises occur when a business manipulates its customers to gain more profits or information. 

4. Technological Crisis: A technological crisis occurs when an organization's technology blows, such as when a server breaks or an error arises in a software product.

5. Natural Crisis: A natural crisis occurs when drastic weather interrupts normal business functions.

 

Best Crisis Management Examples

There are enormous companies which have set an example for dealing with crisis management.

 

To know more about it, refer to these links given below: 

Learn from examples of crisis management 

Here in this article, top brands crisis management plan examples have been cited from which you can get an idea to plan and execute your own. Read more.

Examples of crisis communication

Before strategizing your crisis management plan, just explore the idea of a crisis communication plan for your business and how important it is to count it in the plan. Read more.

Adequate crisis communication references from leading brands in Asia

Discover how the leading brands in Southeast Asia adapted their crisis communication strategies, and get some report on how you can swiftly adjust your own communications plan during this time. Read more.

 

We at OpenGrowth, Suggests to you all the tactics to overcome from all the crises.

 

Contributor: Beauty Kumari

An eloquent individual, love to express a myriad of topics through her words. She is ready to take any professional challenge head-on and give her best to any project entrusted to her. She wants to make an impact through her writing and build a career out of her passion.

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Isha Panwar, OpenGrowth Content Team

 

The Editorial Team at OpenGrowth is working to provide you with the perfect place to know everything about startups. Feel free to connect with us.


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