Human dimensions of crisis preparedness in the banking sector: an ISM-based approach

Abstract

The advent of globalisation and liberalisation is changing the focus of organisations from conventional working to working in a crisis scenario. The economic pressures, changing business dimensions further create pressures on organisations to find ways of handling the crisis situations. In such a situation, human dimensions of crises management gain utmost importance. This paper seeks to study and provide an insight into the human dimensions relating to crisis preparedness in the context of the banking sector. Using qualitative and quantitative research tools, 11 such human variables were identified for better crisis preparedness. ISM-based approach was adapted to model such variables for effective and efficient crisis management in banking the sector. The results present a model showing a path for attaining excellent crisis preparedness in the contexts of banks.