Crisis management can be any kind of calamitous event leading to hampering the repute and economical stability of an organization. Operating in a dynamic market, where change is inevitable Crisis Management Strategies are vital and obligatory for every organization. There are many types of crisis management which can be natural disasters, organizational accidents, workplace violence or any kind of attack. As crises can surface anytime and can be unpredictable, it is better to have a Crisis Management Plan that will assist in coming out of the unavoidable situation of crisis and resuming the previous stature of the company. Proposed to act as a guide to crisis management, this article will enlighten different crisis management steps that need to be pursued through the different stages of crisis management.

Pre-Crisis Management Strategies:

It is always better to be prepared beforehand. Some of the pre-crisis management strategies which can be effective as contingency plans are as follows:

1. Prepare a team of professionals to deal with crisis situations. A group trained and prepared in advance to act smartly at the time of crisis is much better than planning something in the face of adverse situations.
2. Be ready with a crisis management plan in accordance to stakeholders, internal employees, and board of directors. Revise and renew the plan as per the market demand every year.
3. Choose a spokesperson as the company will need a face to represent itself in media if any kind of unlikely situation happens. Be ready with reputation repair strategies as sometimes there will be defamation and degradation of the company due to crisis.
4. Watch out for the financial budget planned for the company to sail through the fiscal year. Make sure that there are no unnecessary outflows of money which can jeopardize the economic stability of the company.
5. Always have an alternate funding strategy or access to emergency funds.

Management Strategies during Crisis:

In this segment of the article, we will focus on what to do after crisis hits. After the adversity strikes the first response for any organization is to be unswerving and precise while dealing with it.

1. Carefully go through the facts which demonstrate the figures indicating the company’s loss and damage. Analyze the situations responsible for these mishaps and try to eradicate the source of crisis by taking preventive measures.
2. Keep in track with spokesperson responsible to represent the organization outside.
3. Communication is the key factor while handling crisis management. Try to get in touch with the internal departments as well as outside customers either through, mails, internet or social media platforms.
4. If any employee has been affected due to the crisis either physically or professionally do not forget to express concerns and sympathies. In such kind of situations, it is better to come up with incentives or remunerations for the victims.

Post-Crisis Management Strategies:

In this phase, the company has already dealt with the situation and resuming its previous stature. Although at this point crisis is not in focus, there is still a lot of work to do as the organization needs to renovate itself for future expeditions.

1. Analyze the crisis situation properly. Get ready to tackle it more effectively and innovatively if it happens next time.
2. Communicate with the stakeholders and shareholders of the company to convey about the real issues during the crisis.
3. Learn from the mistakes and craft a more proficient team equipped with knowledge and experience to manage the crisis situations.