Insight into Crisis Management
Updated: Sep 14, 2019
An important concept of Marketing that is applicable in any business is crisis management. Crisis management is the process by which a business or other organizations deal with a sudden emergency. This emergency can be financial, employee problems, shift in industry, natural disaster, etc. This is essential to any business because if something goes wrong in a business it usually can cause uproar in the public and damage the public’s view of the company. To counteract this, most businesses usually have a crisis management team that focuses on dealing with emergency problems as soon as possible. There are two primary methods that crisis management teams use to keep the crisis under control. The first is to respond through a press conference and addressing the crisis. This will create a positive public image for the company and clarify and outstanding rumors that may have been created. This is one of the primary methods for any major crisis that occurs with a large company. Next, if the crisis involves a group or a single employee, the company will most likely decide to let that employee go. Sometimes, if the crisis involves a problem that may occur in the future, businesses will create a training program to ensure that none of their employees make a similar mistake. One prime real world example of crisis management is the Facebook leak that occurred this year. The renowned social media website had an internal problem where user’s personal information was being leaked on the internet. As a response to this, Facebook immediately apologized to the public. In fact, Mark Zuckerberg, the current CEO of Facebook, personally apologized to the public during a court hearing. Although public controversy and disapproval initially arouse, the problem was terminated as quickly as possible.