Crises can threaten the continued existence of an organization. In today’s highly uncertain and turbulent business environment, managers must develop stronger crisis decision‐making skills. This article outlines a practical six‐step approach to improving organizational crisis‐preparedness. It also suggests that crisis management is a critical component of contemporary strategic management. Managers can be expected to do a better job in dealing with crises if they follow the recommended six‐step approach and make a conscientious effort to integrate crisis management into the process of strategic management.
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