The Anti-Crisis Management: Meaning, Stages, Implementation Processes

Abstract

The profitability and efficiency of organization are impacted by a number of factors that can lead to business failure under certain conditions. In this situation, the company’s management needs to implement a set of actions necessary to restore stability and solvency. The article is aimed at defining the stages of crisis management and the main factors of formation of successful anti-crisis strategy. The process of solvency restoration, presented in the publication, covers all aspects of anti-crisis management, such as: evaluation, diagnostics, planning, management. It is emphasized that anti-crisis management is not just the formation of an effective strategy for the recovery and development of company, but also an integrated implementation of the proposed measures, their constant adjustment, depending on the impact of changes of the external and internal factors. Accordingly, implementation of the proposed process involves the coordination of priority interests of the company and external environment; balancing internal measures to restore economic potential and create conditions for the long-term development of company.

Keywords

• crisis management
• anti-crisis management
• anti-crisis strategy
• business restructuring plan
• financial recovery