Economic Crisis Management - Concept and Definition

Abstract

Crisis management is the ability of the organization to realize the current and potential risks and threats and work to avoid them or reduce their negative effects to rebalance the system in the shortest possible time and start its activity again and draw lessons learned to prevent the recurrence of the crisis or improve ways to deal with it in the future and take advantage of the opportunities it offers. Crisis and disaster management is a critical component of any organization's emergency preparedness plans. Effective management of these events can save lives, reduce property damage and help communities and businesses recover faster. By following the steps described above, organizations can develop a comprehensive plan that ensures their readiness for any crisis or disaster that may occur, and this is achieved through the training sustainability of institutional cadres in their various specialties and understanding the mechanisms of emergency action for each working group related to the crisis and disaster management program with the involvement of security forces and the media in trainings and updating plans because of their importance in response and empowerment plans.

Keywords

• Management, Crisis, Economic crises, Crisis management