Contemporary Economic Crises and their Impact on the Activities of Organizations

Abstract

Economic crises affect modern organizations for different financial and epidemiological reasons. Sustainable development of the organization requires to a change the model of managerial decision-making. The purpose of the study is to identify the features of the crisis phenomena impact on the organization’s activities and to create a model of managerial decision-making that ensures adaptation to environmental challenges and sustainability of development. The authors use the analysis of open source content, systematization, tables; comparative, economic and morphological analysis. The authors analyze the impact of crises on the development of Russian organizations. The research shows that a crisis can have both negative and positive consequences for organizations. In order for an organization to benefit from the crisis, it is necessary to identify risks and weaknesses, assess emerging opportunities. A model of managerial decision-making in an organization under the conditions of the external uncertainty is proposed.

Keywords

• crisis
• economic crisis
• management decisions
• organization management
• decision-making
• pandemic
• uncertainty
• adaptation