MANAGEMENT IN TIMES OF CRISIS
MANAGEMENT IN TIMES OF CRISIS

Summary/Abstract: In order for an organization to successfully deal with the crisis, it is necessary, first of all, to recognize the crisis, analyze, determine the basic problems, create a program of activities, select and motivate the team that will solve the problem, and finally, unreservedly fight the new situation. There is one very simple formula that says that every manager in crisis situations should focus on four main areas. These are: reducing costs, increasing sales, financial consolidation, and motivating people and preventing panic. The authors have tried to show in this paper that in crisis prevention, and rehabilitation of the one that has occurred, the main role is played by adequate crisis management, at the center of which is crisis management.

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