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Factory

Unit 5 - Operations management - QB

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Chart Increasing

Unit 1 - Introduction To Business Management - QB

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Briefcase

Unit 2 - Human Resource Management - QB

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Money Bag

Unit 3 - Finance & accounts - QB

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Direct Hit

Unit 4 - Marketing - QB

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Bar-Chart

Unit 6 - Assessment

A crisis? Think of it like the sudden thunderstorm that ruins your BBQ party! 🌩️🍔 But for businesses, it&#39;s way more serious. They need an umbrella, ASAP!

A major unpredictable event that can harm an organization &amp; its stakeholders.

Examples

<ul>
	<li>Human Activity: Financial crises (Hello 1929 &amp; 2008! 💸)</li>
	<li>Industrial Accidents: Bhopal gas tragedy (1984) and BP Gulf spill (2010) 🛢️</li>
	<li>Natural Disasters: Sichuan earthquake (2008) &amp; Japanese tsunami (2011) 🌊</li>
	<li>Combo Meal: Human + Industrial + Natural (Covid-19 🦠 starting 2019)</li>
</ul>

<ul>
	<li>Global: Everybody knows! (e.g. Covid-19)</li>
	<li>Regional: Like that one season finale everyone in your state watched 📺</li>
	<li>Local: Just your neighborhood gossip. Think: local power cut or an IT failure in a small company. 🖥️❌</li>
</ul>

<ul>
	<li>Major: Plane crash ✈️💥 (huge impact!)</li>
	<li>Minor: Your online book order delayed by 2 days 📖⏳ (annoying, but not the end of the world)</li>
	<li>Don&#39;t Forget: Crises can hit the supply chain. Like when workers strike &amp; your favorite snack isn&#39;t in stock. 😢🍫</li>
</ul>

When a business handles a crisis, they need to follow these super principles:

Transparency 🌠

<ul>
	<li>What it Means: Be honest, folks. Don&#39;t hide stuff!</li>
	<li>Real-world Example: If there&#39;s a product recall, businesses should explain why instead of keeping customers in the dark.</li>
</ul>

Communication 📞

<ul>
	<li>What it Means: Talk! But no drama, please. Think straight facts, not a soap opera.</li>
	<li>Real-world Example: After an industrial accident, businesses need to inform the public about what happened, using facts and not just PR spin.</li>
</ul>

Speed ⚡

<ul>
	<li>What it Means: Act FAST but wisely. Quick doesn&#39;t always mean it&#39;s the best move.</li>
	<li>Real-world Example: In a data breach, companies need to inform affected users quickly, but also make sure their info is correct.</li>
</ul>

Control 🎮

<ul>
	<li>What it Means: Prevent more mess. Clean up aisle 5!</li>
	<li>Real-world Example: If there&#39;s an oil spill, businesses need to contain it quickly to prevent further environmental damage.</li>
</ul>

Crises are like surprise tests: unpredictable and stressful. But if businesses play their cards right using transparency, communication, speed, and control, they can sail through them. Remember, preparation is key! ⛑️🗝️

&nbsp;

Study Tip: 💡 Imagine you&#39;re the CEO during a crisis. What would you do? Play out scenarios in your mind or with friends. It&#39;s fun and educational!

Unit 5 - Operations management - QB

Master Crisis Management: Steps to Protect Your Organization Now!

Table of content

Quick overview 🔥

What's a crisis? 🌪️

How big can a crisis get? 🌎

Unlock the Full Content!

Unit 5 - Operations management - QB

Master Crisis Management: Steps to Protect Your Organization Now!

Table of content

Quick overview 🔥

What's a crisis? 🌪️

How big can a crisis get? 🌎

Unlock the Full Content!