Crisis Management

Crisis management is an integral management capability that organizations are expected to possess. We distill four primary characteristics of crises; crises are sources of change, uncertainty, and disruption; crises are harmful and threatening for organizations and their diverse stakeholders; crises are behavioral phenomena; and crises as a part of an interconnected process. Organizations with resilience culture are better prepared to mitigate crisis effects and develop necessary tools needed to prevail in the face of crisis. Crisis represents opportunity to innovate, reinvent business model and capture new market terrains or expand existing offerings in order to diversify all of the organization streams of income. For entrepreneurs, there is need to explore and exploit resources and use open innovation model to generate new products ideas. The level of cooperation, collaboration and engagement among stakeholders matters for successful crisis management. In conclusion, we discussed the implication of using design thinking and configuration view when handling crisis.