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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.

Since its handover from the UK to the People’s Republic of China on 30 June 1997, Hong Kong has been struck by a number of crises. This paper reports the results of an empirical investigation of how Hong Kong companies prepare for crisis. The research design was based on a replication and extension of a study originally conducted in the USA. Analysis of data collected through a survey of senior executives revealed that 21 Hong Kong companies had a crisis management plan (CMP). The rationale for crisis planning, and characteristics of structural components of the CMP, including both the crisis management team and crisis communication plan, are discussed.

Located in the heart of Europe, with a population of about 10.5 million people, Hungary is sometimes referred to as a jewel on the East European crown—at least, as far as international business is concerned (Dent, 1992). Although Hungary is a relatively small country, about the same size as the state of Indiana in America, it is generating a lot of interest among foreign investors because of its attractive business environment, especially when compared to the other newly emerged democracies of Eastern Europe.

More than a decade after the introduction of the U.S. Export Trading Company Act of 1982, which primarily aimed at helping American firms market their products abroad, the U.S. today still has a great deal to catch up in improving its huge deficit position. To most Americans, it may seem difficult to accept that a superpower like the U.S. has lagged far behind its international trade partners, notably Japan and Germany. But as pointed out by Rossman, there is at least one major contributory factor for the poor performance of the U.S. in its world trade activities.

Makes recommendations, based on a 1991 study of Hong Kong Executive MBA students, for management education and development programmes for the development of Hong Kong managers, in anticipation of the changes that will occur when control of Hong Kong is transferred from Britain to mainland China in 1997. Finds that Hong Kong managers expect changes in many parts of their lives – political, social, personal property rights and moral beliefs. Therefore, recommends that management development prepare Hong Kong managers to meet this multitude of changes.

Evaluates the classical theoretical framework of planning and its relevancy in an international context. Additionally, it integrates Hofstede’s model of cultural dimensions into the discussion to provide an exploratory analysis of how national culture characteristics may impact cross‐cultural acceptance and application of classical planning principles.

Since Great Britain and mainland China signed an agreement on the future of Hong Kong in 1984, worldwide attention has been focused on the roles of businesses and managers in Hong Kong after June 30,1997, when government control is transferred from the British to the mainland Chinese. Two different scenarios will probably take place. One is that Hong Kong will be allowed to continue doing business as usual and enjoy a high degree of autonomy. Another scenario, which seems somewhat more likely, is that business and politics in Hong Kong would undergo dramatic changes under the influence of the repressive regime in Beijing.

A great contest is changing American manufacturing firms. Worldwide competitors have imposed growing pressures on American manufacturers to become more competitive. In addition, the rapid advances in manufacturing technology and the recent development of productivity improvement concepts have forced an increasing number of firms to consider incorporating new trends into their manufacturing decisions. In particular, Factory Automation (FA) has received considerable interest among manufacturers.

Presents a discussion of liquidity‐based financial crisis. An example is used to illustrate the application of a conceptual model in dealing with this kind of crisis. Concludes that systemic planning based on the ideas put forward can help managers better prepare for financial crisis.

An analysis of survey data collected from a sample of 98 Fortune 500 industrial companies reveals that expert systems (ESs) are utilized in manufacturing by 52 per cent of the companies, among which ESs are perceived to be more useful in process planning, product design, layout, facility design and maintenance; and less useful in forecasting production demand and reducing accidents/ safety hazards. Some suggestions are offered on integrating ESs with simulation and logistical knowledge, and involving top management in ES development projects to maximize the pay‐off of utilizing ESs in manufacturing.