What is Crisis Management?
Crisis Management refers to the strategies and processes used by organizations to prepare for, respond to, and recover from unexpected adverse events that could harm their operations, reputation, or stakeholders. Effective crisis management involves:
Crisis Identification: Recognizing potential threats early.
Preparedness: Creating contingency plans and conducting simulations.
Communication: Ensuring timely, accurate, and transparent information flow to stakeholders.
Response: Implementing strategies to mitigate damage.
Recovery: Restoring normal operations and learning from the incident to prevent future crises.
It ensures organizational resilience and stakeholder trust.