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
- Nino Aroshvili
- Jana Balakhashvili
- Maia Siradze
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
- 0.00