Crisis Management
Argenti raises many sound points regarding the proper protocol during crisis management. The bulk of chapter ten demonstrates a sound understanding of how crises unfold, and how every crisis is different. While this is true, there are still strong areas of overlap among crises. "Few circumstances test a company's reputation or competency as severely as a crisis. Whether the impact is immediate or sustained over months and years, a crisis affects stakeholders within and outside of a company" (Weiner, 2006). In such a case, clients cancel orders and cancel subscriptions. Employees start asking questions or worse, quitting. Competitors start circling like sharks and government agencies and other regulators often start knocking, with attorneys at their heel (Weiner, 2006). Given all the aggravated circumstances connected to a crisis and the variety of ways that any potential crisis could be handled, Argenti makes a continually strong and pervasive argument about how to handle such circumstances (Weiner, 2006).
One of the most solid and simple points that Argenti raises is the fact that "the first step in preparing for a crisis is to understand that any organization can be involved in a crisis at any time, regardless of the industry. Argenti does acknowledge that certain industries (such as those in the oil, mining, energy or packaged goods arenas) are more prone to crises than other organizations; really any company is at risk. Once one acknowledges that all companies are at risk, and one can agree that one's own company is also at risk, and then one can begin to prepare realistically and strategically to beat the crisis. As Argenti illuminates, a 2011 study on Crisis Preparedness demonstrates that 79% of business leaders believed that their companies were 12 months away from a potential crisis.
Another valid point that Argenti makes is that a company should predetermine the exact method of communication during a crisis and stick to it. This way, employees will know what to expect and will be able to anticipate how to act and engage during a crisis. This will allow employees to know what channels of information will be open during a crisis and which will be shut. For instance, Argenti asserts that a memo might be too formal for such an event, and encourages the availability of having town hall meetings. I think that the method of communication should be in-person, but it should be fun and creative. In the wake of a crisis, it can be important to keep things light-hearted so that people don't get too stressed or scared. For example, one company that I worked for had a crisis communication meeting scheduled for an exact 24 hours after a crisis under a bridge in the local park. Such a place felt, covert, like everyone was engaging in black-ops activities. We were told to wear black and to carry flashlights. We were told we would only be allowed in if we remembered the secret code. This made the whole event almost seem like an adventure, along with being extremely important.
While we were under the bridge, there was hot chocolate and hot apple cider given out, and our company leaders told us up-to-date information about the crisis and what to do. Not only did all the employees remember all the details about where to meet and what to do, but we all almost looked forward to having this meeting. Argenti could have gone into deeper detail about how to best handle communication within the organization, by going into deeper details about how to reassure employees, how to retain employees and how to discuss talking to the media with employees. During a crisis, all employees need to feel like they're all on the same team: there's a danger that the crisis could become divisive. Communication is a means for preventing that from happening. For instance, at that same company that I worked for which had the crisis...
Business Risks -- Overview of the Risk Environment There are various types of business risks in the business environment, and these risks, of course, can differ from environment to environment depending on the type of business or organization. The severity and category of the risk also depends on the largeness of the organization and on various other factors, such as location, personality of employer, quantity of employees employed, and so forth
" According to Short, Williams, and Christie (1976; cited by Van Den Hooff, Groot & De Jonge, 2005), Social Presence Theory notes that "communication media differ in the degree to which they can communicate (or simulate) the social presence of the communication partners through the use of social cues (both verbal and nonverbal cues)." This theory purports that if a medium can only communicate limited social cues, communication partners do
Without this level of foresight and planning an organization will have three to six months of one direction then another. The side-effect is that over a year nothing strategic gets accomplished. A CEO needs to define then a series of interlinked and interrelated plans where it is communicated and recognized that there may be one or two quarters of foundation-building where nothing significant happens, yet this time period is specifically focused on building for the future.
In this case, the authors say not much is understood in terms "…of how it support for knowledge management practices in organizations affects the development of TMS (transactive memory system) (Choi, et al., p. 855). In this research, the trio of researchers have come up with several interesting findings relative to the impact of information technology. Indeed, after researching 139 technology teams (743 individuals) in South Korea, they learned that:
ethical decisions in business is great. There are many instances where ethical decisions are necessary in business operations, and corporations can get themselves into trouble even when they are trying to be ethical if they do not have a strong and effective procedural structure to guide employees in making such decisions. One aspect of ethical decision making comes under the heading of crisis management as corporations are faced with
What are the essential details of the event, and what do you see as the causes of the crisis and/or negative impact to society? Essential Details The scandal chosen is the Volkswagen emission scandal. The essential details of the scandal encompass the fact that Volkswagen ultimately admitted that roughly 11 million of its manufactured vehicles were fitted out with software that was employed to falsify emission tests. Specifically, the fitted out software
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now