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Essay / Product Damage Crises Case Study - 832
These factors include: the reputation and social responsibility of the company, the company's response to the crisis, the number and degree of injuries, as well as external effects during and after the crisis. Developing a clear and effective communications strategy is essential to manage public opinion, establish internal cohesion and restore investor confidence. Crisis management concerns the company by ensuring that in the event of a crisis, the company can return quickly and efficiently to its primary mission: to be profitable (source, publication date). Whatever the type of crisis, the objective is continuity of operations and a return to a stable state. The success of any business is linked to an effective business strategy and must contain risk and crisis management. According to Chong (2004), managers should make a conscientious effort to integrate crisis management into the strategy-making process.