Naslov
FIRMS' ANSWER TO THE BUSINESS CRISIS AND CORPORATE RENEWAL LEVELS

Autori
Daraboš, Maja ; Kružić, Dejan

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of the 2nd International OFEL Conference on Governance, Management and Entrepreneurship – Inside and Outside the Managerial Mind: Building the Bridges between Disciplines / Tipurić, Darko ; Mešin, Marina - Zagreb : Centar za istraživanje i razvoj upravljanja (CIRU), 2014, 711-719

ISBN
978-953-57413-4-3

Skup
2nd International OFEL Conference on Governance, Management and Entrepreneurship – Inside and Outside the Managerial Mind: Building the Bridges between Disciplines

Mjesto i datum
Dubrovnik, Hrvatska, 04.04.2014. - 05.04.2014

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
business crisis; reaction to changes; firms’ answer; corporate renewal

Sažetak
During its business life cycle every organization passes through numerous turbulent periods that are not planned or expected. These periods usually last for particular, uncertain period of time and have ambiguous outcomes. Such a transformation process caused by certain serious imperfections that create the need for the reconstruction of social norms and the whole system is called a business crisis (Shaw et al., 2007). The crisis is only the final result, outcome and consequence in long, poorly guided policies, inadequate strategies, incorrectly made decisions, problematic nonconforming business partners and many other scarcely noticeable, accumulated over time, shocking changes in the internal and external environment. Possessing adequate organizational capabilities and strategies to face the crisis is a key to organizational survival. This paper will provide review of the present view on organizational crisis and crisis stages, with focus on anticipative, preventive phase of crisis management. Pro-active planning strategy shall be analyzed through firms’ answer to the crisis, together with crisis strategies and measures available for preparing, preventing and handling of crisis. Vast numbers of determinants in turbulent environment are present and can trigger the crisis, and accordingly, various organizational measures and activities exist to prevent such events. Theoretical research based on examination of secondary information from recent relevant scientific sources shall be used. Furthermore, this research will contribute to a better understanding of modern tendencies in crisis management and answers available to firms in crisis as well as levels of corporate renewal.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA