How crises unfold

Abstract

Seeks to develop understanding of how to avert, or manage and recover from, crises. Tries to widen the view to include other management failures that can result in corporate demise, e.g. through a sudden loss of market share. Highlights three crisis phrases: crisis of management; crisis point; and crisis fall‐out. Concludes a way of identifying crisis‐prone organizations must be found — although rising managerial awareness of the issues should help — complacency among senior managers remains the biggest danger.