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Crisis Management Definition

Crisis Management Definition

investopedia.com

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Crisis Management

Crisis management refers to the identification of a threat to an organization and its stakeholders in order to mount an effective response to it.

Due to the unpredictability of global events, many modern organizations attempt to identify potential crises before they occ...

Crisis management is not necessarily the same thing as risk management. Risk management involves planning for events that might occur in the future, crisis management involves reacting to negative events during and after they have occurred.

A crisis can either be self-inflicted or caused by external forces.

  • Examples of external forces that could affect an organization’s operations include natural disasters, security breaches, or false rumors that hurt a business's reputation.
  • Self-inflicted crise...

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