The world is full of uncertainty and highly unpredictable. Crises strike human beings in the form of floods earthquakes famines cyclones etc. Many a times in the past and threatened their very existence. As individuals are faced with unpredictable eventualities like death fatal disabilities significant destruction of property through floods fire etc. Corporates are also confronted and affected with such unexpected events. They threaten the very existence and reputation of the company and thereby their competitive advantage and reputation. Such unexpected incidents can be referred as corporate crises. In the context of an enterprise any event that threatens the existence sustainability and its reputation is termed as crises.
Crisis situations arise due to many reasons. Some of them could be due to internal reasons are defective products financial mismanagement in effective leadership and leadership misbehavior human resources crisis natural calamities etc. Though it is difficult to predict when a crisis situation occurs prudent and alert management can anticipate things that are going to happen and prepare for them in advance. Thus crisis preparedness occupies a very important position in the act of crisis management. Crisis planning and crisis communication are two important steps in the crisis management.
The credibility and reputation of organizations is heavily influenced by the perception of their responses during crisis situation. The organization and communication involved in responding to a crisis in a timely fashion makes for a challenge in businesses. There must be open and consistent communication throughout the hierarchy to contribute to a successful crisis communication process.
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