Primary navigation:

QFINANCE Quick Links
QFINANCE Topics
QFINANCE Reference
Add the QFINANCE search widget to your website

Home > QFINANCE Dictionary > Definition of crisis management

Definition of

crisis management

General Management

firm's methods of dealing with unexpected negative situation actions taken by an organization in response to unexpected events or situations with potentially negative effects that threaten resources and people or the success and continued operation of the organization. Crisis management includes the development of plans to reduce the risk of a crisis occurring and to deal with any crises that do arise, and the implementation of these plans so as to minimize the impact of crises and assist the organization to recover from them. Crisis situations may occur as a result of external factors such as the development of a new product by a competitor or changes in legislation, or internal factors such as a product failure or faulty decision making, and often involve the need to make quick decisions on the basis of uncertain or incomplete information.

Related definitions of "crisis management"

Recommended Further Reading (Term count)
  • Understanding Crisis Management
    This checklist provides an overview of how organizations can deal with events that threaten their survival and outlines some of the strategies which can be employed to tackle such threats.
  • Business Continuity Management: How to Prepare for the Worst
    by Andrew Hiles
    BC: Business continuityBCM: Business continuity managementBCP: Business continuity planBIA: Business impact assessmentDRP: A plan for the continuity orrecovery of information andcommunications technology (ICT)MCA: Mission-critical activitiesRisk appetite: The level of loss that anorganization is prepared to tolerateRTO: Recovery time objectiveRPO: Recovery point objective (of dataor transactions)
  • How the Settlement Infrastructure Is Surviving the Financial Meltdown
    by Yves Poullet
    While the headlines are dominated by the plight of the banking sector, and the wider economic implications of the financial crisis, it is our job to make sure that the securities settlement infrastructure on which you have come to rely continues to function well. As if that was not challenging enough these days, we are committed to delivering an infrastructure that offers even greater efficiency, with reduced risk, and at the lowest possible...
  • Fraud: Minimizing the Impact on Corporate Image
    by Tim Johnson
    The threat of fraud is faced by all organizations regardless of their size or sector. From the perspective of reputation management, controlling the impact of fraud is particularly challenging for two reasons:That an organization has become a victim of fraud suggests either that someone in the organization is corrupt, or that the organization and its compliance systems are vulnerable. Neither possibility inspires confidence. The word “fraud” has...

Definitions of ’crisis management’ and meaning of ’crisis management’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’crisis management’ and other financial terms with our online QFINANCE Financial Dictionary.

Back to top

Related

Most Viewed

Recommended

Latest

Related Blog Posts

More related Blog results

 
QFINANCE www.qfinance.com