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2 pages/β‰ˆ550 words
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1 Source
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
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MS Word
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Topic:

Crisis Management

Essay Instructions:

Crisis Management Organizational leaders often see a crisis as a uniformly negative event that should be avoided at all costs. They often focus crisis management efforts on trying to predict every negative situation that could possibly occur and developing a plan to avoid them. Such an approach is impractical according to researchers Antonacopoulou and Sheafer (2011) because unexpected crises are an inevitable part of a business. Moreover, they propose “a dynamic view of learning and crisis as central to manage¬ment and organization practices” (p. 4). Crises, they say, not only happen during large-scale disasters but also occur on a smaller scale each time someone is pressured to make a decision for which prior solutions are inadequate. These situations force people to “make new connections” among existing knowledge to arrive at novel solutions. Research such as this suggests that crises can be learning opportunities. To prepare, identify a crisis that many organizations has faced in the past, a crisis that it is currently facing, or a crisis that a competitor in that industry has faced that your selected organization may face in the future. Write a 2-page paper explanation of the crisis that you selected and a crisis management response recommendation. Include an analysis of the ethical implications of that recommendation. Reference at least one scholarly peer-reviewed resource in your recommendation.

Essay Sample Content Preview:
Crisis Management
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Introduction
It is the desire of the top management in organizations that everything should sail through with their daily activities without facing any form of crisis. Crisis leads to anxiety especially when solution is not forthcoming and when its impact is unknown. However, regardless of the effort that top management takes to prevent crisis, it many not be practically possible to completely prevent crisis from happening (Lewis, 2010). Some forms of crisis come as a result of the dynamic nature of business. They are learning platforms through which those in charge learn to improve the structure of business. This discussion looks at one of the crises that have been faced in the banking sector and some of the response to crises that were used to deal with the situation.
Online Banking
Online banking is relatively new concept which was introduced recently with the advent of technology. With technology and internet available to large group of people, the banking sector thought it wise to invent in this area. However, as is always the case, very new innovation has it own set of challenges. Although the banking sector must have anticipated experiencing some challenges, perhaps they did not anticipated problems going out of hand to lead to as crisis.
One of the crises that the banking sector faced was constant cases of fraud which cam from failure to strictly monitor the systems of banking (Lewis, 2010). Being a fairly new concept, the banking sector appeared to have relaxed, gibing themselves a pat on the back and forgetting that there we re other people on the look out. During the initial ...
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