April 10, 2023When gold is placed in the fire, it becomes purer and slag is expelled from it. As for the wood, when it is placed in the fire, it burns and becomes debris blown away by the wind. This is how the crises that companies go through, either make the company stronger and prove its worth and win the trust of customers, or that crisis is a wind blowing the company to wipe it out. Its impact, it all depends on the company’s management in times of crisis. Hence, it was necessary for entrepreneurs and company owners to know how to manage the company in times of crisis, but before we talk about that, let us know what a crisis is. Crisis: It is a major, sudden and unexpected problem that needs a quick and effective solution, otherwise it will lead to a disaster. Among the most important ways to manage the company in times of crisis are the following: 1- Determine the cause of the crisis. There are multiple causes of crises and determining the cause of the crisis greatly affects how the company is managed in times of crisis. Crises resulting from natural disasters such as earthquakes and volcanoes need serious work to compensate for what was lost due to the disaster. As for the crises resulting from misbehavior or wrong thinking, the first step to treat them is to undo that behavior and apologize if necessary. As for the crises that are caused by rumors, the rumor must be answered and its falsity and invalidity must be proven, in order to win the customers’ trust again, and so every crisis has a way to deal with, and therefore the first step in managing the company at the time of crisis is to determine its cause. 2- Develop a long-term plan to solve the crisis. Business administration experts almost unanimously agree that developing an accurate plan is the secret to the success of major companies, which is an inevitable necessity, and that working in a random manner will not bear fruit, let alone when there is a crisis! This plan must have the following features: First: It should be a realistic and practical plan. You should not expect that it is a matter of time and the crisis will end, or that the plan will have a magical effect. After two days, things will return to normal. Second: a comprehensive and integrated plan that runs in parallel. Crises are like a rosary when a grain falls off, followed by the rest. The beginning of the crisis may be common, but it soon develops and you find that there has become a legal problem, a problem in sales, a problem of the company’s stock price dropping in the stock market…… and so on. When developing the plan, it must be comprehensive for all aspects, and run in parallel, because crises generate crises. 3- Appointing an official spokesperson for the company. This is a very important point in managing the company in times of crisis. There must be an official spokesperson for the visual, audio and print media, and a spokesperson on social media, and he must have sophistication, wisdom, foresight, tact, and calm nerves. What qualifies him to answer any question without causing another problem, and even to win the sympathy of customers, financiers and investors. 4- The owner of the company and the employees should take responsibility, show them calmness and patience, and avoid nervousness and reckless decisions. When managing a company in times of crisis, all those in the company must cooperate and bear responsibility, and all of them must remain calm, patient, and restraint, and avoid nervousness, selfishness, and the exchange of accusations. They have to be one hand in order to overcome the crisis, and they are optimistic that they are able to do so, as hundreds of international companies have safely passed various crises. 5- Benefit from the experiences of other companies. There is no company except that it was exposed to various crises, and some of these companies were able to rise and gain the trust of customers, and some of them stumbled and the crisis was the reason for its elimination. Knowing these experiences that companies have gone through is very useful, because they may inspire you with excellent ideas, and even teach you the mistakes of others. you avoid it. Managing a company at a time of crisis is not impossible, but it requires specialists and a conscious plan and foresight, so that the crisis passes unnoticed without destabilizing the company’s position.