Identify three crisis events from the recent local, national, and international (one from each level) business news.
2. Read at least three different news reports on each crisis, trying to learn as much as possible about its specifics, how it was dealt with, what the results were, and the aftermath of the crisis.
3. For each crisis, use a balance sheet approach to list sources or causes of the conflict and management responses to it. Analyze the lists to see if there are any differences based on the nature of the crisis faced in each situation. Also look for any patterns in the responses to them by the business executives.
4. Score each crisis (from 1 = low to 5 = high) in terms of how successfully it was handled. Be sure to identify the criteria that you use to describe “success” in handling a crisis situation. Make a master list of “Done Rights” and “Done Wrongs” in crisis management.
5. Prepare a report on “Realities of Crisis Management” that clearly articulates your findings for each step and summarizes results.
Local –
2021 riots and consequent retail thefts
Identify
the problem
What
caused the problem?
Who were
the responsible parties?
How was
this crisis dealt with?
Was the
approach effective? Why or why not?
What were
the results?
What was
the aftermath of the crisis?
Were the
results successful?
National
– Kia thefts due to lack of anti-theft technology
Identify
the problem
What caused
the problem?
Who were
the responsible parties?
How
was this crisis dealt with?
Was
the approach effective? Why or why not?
What
were the results?
What was
the aftermath of the crisis?
Were the
results successful?
International
– COVID-19 impact on commercial real estate
Identify
the problem
What caused
the problem?
Who were
the responsible parties?
How was this
crisis dealt with?
Was the
approach effective? Why or why not?
What
were the results of the approach?
What
was the aftermath of the crisis?
Were
the results successful?
TBD
Conclusion
Summarize events from less successful to most successful.
What was done right or wrong in each case?
