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WHAT IS CRISIS?
Crises have no borders or boundaries. They can happen anytime, anywhere, and to any organization—profit, not-for-profit, public, or private. The interconnectedness of the global economy and its political realities can magnify the ripple effect of any single crisis, making it a common feature of corporate life. A crisis affecting one organization can, among other things, cause layoffs and closings among that organization’s suppliers, customers, and partners; bring about a loss of investor confidence that can cause a dip in the stock market; and even bring about environmental damage and psychological angst. The financial implosion that bankrupted the U.S.-based energy-trading company Enron in the fall and winter of 2001, for example, ...
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