Managers in Crisis Situations: Key Crisis Management Skills and Strategies

The current condition of the business, technological, and social environment is characterized by crises of various origin. Most of them entail serious consequences for businesses, from a decline in profits to bankruptcy. Therefore, crisis management becomes an integral part of the overall management process of any business. The concept of crisis management is generally used in relation to economic processes and financial flow management. The subject of this article is the less commonly considered application of this concept to the activities of managers in crisis situations.