What should a company do when it finds itself in crisis? Rejecting the idea that a company’s crisis is bankruptcy resulting from poor financial status, developing from temporary to permanent inability to meet creditor requirements, this study takes an innovative stance in proposing strategic crisis control management decisions to stabilize company performance.
What You Will Learn? Managing an organization through a crisis is a task that requires planning and forethought. Recognizing crisis in advance is part of what makes crisis management possible. Being Strategic: Strategy-specific Project Management in Time of Crisis helps to break down an upcoming crisis into practical actions, applying these to strategic phases.
Firstly, you will learn about the Project Management Framework and how to integrate corporate strategy with project management. The author examines the roles and responsibilities of each team member, from HR Managers to Top Management.
You will find an outline of all the sub-systems involved in a crisis and how they are integrated into the project planning process. Each member plays a vital role in crisis mitigation, and these roles are outlined step-by-step. You will come to know the history of management practices and how crisis management has evolved.
The author reviews the essential Company Crisis Management Processes and exactly how to measure crisis. This knowledge will enable you to evaluate the Crisis Management strategies available, their risks and advantages, and how to implement them. Being prepared for, and able to identify, a crisis is the best defence for preventing total loss. With proper planning and strategic decision-making, it is possible to proactively manage a company through a crisis, using the strategies outlined in this book.
An overview of each chapter:
Chapter One provides an overview of the corporate strategy-specific framework, including the stages involved in identifying and implementing strategic management that best suits your organization. The author describes the advantages and risks of each process, and suggest the best practices for selecting team members to manage each project planning phase. The author then introduces the concept of using strategic project management principles in times of crisis.
Chapter Two delves more deeply into crisis management processes. Author reviews the history of strategic management, and how it has grown to control crises in business effectively. The phases of strategic crisis management are outlined with pros and cons. Based on the life cycle and stage of crisis the company is in, it is possible to calculate the crisis severity and an appropriate management strategy.
Chapter Three explores the many crisis management strategies available, based on the threats facing the organization. Being able to forecast a crisis in the pre-crisis stage provides a broader range of options and control for a company. Finally, the author offers plausible options for the later stages of a crisis, including business activity scale-downs and debt restructuring.
Many people have used the techniques used in this book to improve their business.
My years of experience in the business sector have taught me some extremely crucial lessons. Perhaps the most important is that companies need to be flexible. Flexibility in the corporate world is not just an abstract concept, but rather a necessary reality. More information about me you can find here.
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