What is meant by crisis management?

What is meant by crisis management? Why do many organizations ﬁnd themselves in this mode? Using your own experience, identify and describe a situation that could be considered as crisis, and create a simple risk management plan that could have prevented that crisis.

Expert Answer

A crisis is defined as the potential threat to any operation, if not handled properly can result in serious consequences. In any organization crisis can develop following related threat: Threat to the manpower safety Financial loss Reputa..

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