engleski

TOP MANAGEMENT EFFECTIVENESS DURING CRISIS - ARE TRADITIONAL QUANTITATIVE INDICATORS OF EFFECTIVENESS ENOUGH?

Management effectiveness represents top managers’ outcome, the extent to which they are meeting set of goals, taking into account that their efforts in turbulent environment are becoming more and more complex and intense. Different objective and subjective methods can be identified in the theory of management with the purpose of differentiating effective from ineffective top managers, but the application of these methods is creating many problems. Unique classification of top management effectiveness indicators is not reached jet and neither is the classification of top management effectiveness indicators during crisis. The influence of management effectiveness on organizational effectiveness is very important, especially in the situation when the corporation is meeting crisis conditions in its internal or external environment. Existence and survival of the corporation in crisis is based on effective management. Main question, regarding crisis problem is: How to capture and measure top management effectiveness during crisis (which could finally end up as breakdown) with the aim of finding out how effective top managers are and in which manner their actions are influencing potential survival of the corporation? This paper points out the insufficiency of classic quantitative indicators of top management’s effectiveness in times of crisis and suggests some new (also quantitative, but rarely used) indicators of top management’s effectiveness during crisis. Beside new quantitative indicators, this work offers some new qualitative indicators that should be used more, especially top management's ability to create and to implement new anti–crisis strategies.

Corporate crisis; Effectiveness; Top management

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