Effective Crisis Management in Modern Business

In the modern global world, organizations must deal with crises at almost every stage, despite their scale and the period of the past. As you know, technologies are making irreversible progress, so the "behavior" of the consumer is also changing, in parallel with economic, environmental, natural (resource reduction), and various global problems. These circumstances directly affect the organization's functioning and the company's " life " inevitably comes when it must cope with a difficult situation. The problem arises in the present and an immediate response is needed to it. The organization leading to success should take concrete steps to be taken during the crisis for its successful management. The latter is variable in the global economy. The article discusses the causes of crisis in organizations/firms, the level of crisis, and how to manage the organization in times of crisis to get financially "healthy" and brand "unwell" out of a difficult situation. Mechanisms are also given on how to confront/deal with sudden changes and unfavorable conditions. It analyzes how companies adapt to changes that can occur at any time under the influence of micro and macro factors.

Authors

Publication Details

Journal
Works of Georgian Technical University
Published
2025-03-25
DOI
https://doi.org/10.36073/1512-0996-2025-1-132-141
Primary Topic
Business and Economic Development
Type
article
Field-Weighted Citation Impact
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article

Effective Crisis Management in Modern Business

Nino Aroshvili, Jana Balakhashvili, Maia Siradze
Works of Georgian Technical University
Business and Economic Development
article

Effective Crisis Management in Modern Business

Nino Aroshvili, Jana Balakhashvili, Maia Siradze
article en

Abstract

In the modern global world, organizations must deal with crises at almost every stage, despite their scale and the period of the past. As you know, technologies are making irreversible progress, so the "behavior" of the consumer is also changing, in parallel with economic, environmental, natural (resource reduction), and various global problems. These circumstances directly affect the organization's functioning and the company's " life " inevitably comes when it must cope with a difficult situation. The problem arises in the present and an immediate response is needed to it. The organization leading to success should take concrete steps to be taken during the crisis for its successful management. The latter is variable in the global economy. The article discusses the causes of crisis in organizations/firms, the level of crisis, and how to manage the organization in times of crisis to get financially "healthy" and brand "unwell" out of a difficult situation. Mechanisms are also given on how to confront/deal with sudden changes and unfavorable conditions. It analyzes how companies adapt to changes that can occur at any time under the influence of micro and macro factors.

Works of Georgian Technical University(1(535))
Openalex Percentile: Top 91%
Business and Economic Development
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Effective Crisis Management in Modern Business — Nino Aroshvili, Jana Balakhashvili, et al. · Works of Georgian Technical University (2025) | TGRS Research Map | TGRS