Define crisis management. What should a company facing a crisis do to satisfy its stakeholders and protection its reputation?
Crisis Management
Crisis management is the strategic agenda that pilots a corporation to cope up with a major happening that threatens to cause harm to the business, its stakeholders, or the society (Shrivastava et al., 1988).
A crisis damages the reputation and such changes can affect how stakeholders interact with the organization.Therefore it is critically important that an organization know how to prepare for, manage, and recover from a crisis. A crisis has anumber of diverse stages, and handling crises involvesvarious key steps beforehand, during, and for the aftermath of a crisis. These steps comprises of recognizing areas of weakness, designing a plan in order to deal with risks, establishing crisis teams, exercising crisis drills, and learning from experience. An effective crisis communication strategy is critical for successful crisis management. It is axiomatic that prepared communications will be more helpful than reactive communications(Carroll &Buckholtz, 2012).
What is a code of conduct? How can a code be communicated effectively to employees?
Code of Conduct:
A code of conduct comprises of rules delineating the duties of or proper practices for an individual, group or corporation. The International Federation of Accountants stipulated the definition of code of conduct “Principles, values, standards, or rules of behaviour that guide the decisions, procedures and systems of an organization in a way that (a) contributes to the welfare of its key stakeholders, and (b) respects the rights of all constituents affected by its operations.”
According to Mark Schwartz, there are a number of different ways in which a code be communicated effectively to employees. The provisions of examples, scenarios and illustrations can help employees to have a better understand what their company wants of them. To be effectual, a code of conduct has to have a meaning beyond just being a piece of paper it has to develop into a way of life in a corporation’s culture. The most suitable of all methods to give it life is to conduct compulsory ethical training programs. A knowledge-based exam can be an effective way to invigorate employees on the policy and maintain its prominence in their cognizance without consuming time and resource excessively. For a code of ethics to hold a meaning, a business has to be prepared to implement it. Sadly, this typicallyneeds an example of somebody being well organized or dismissed for a violation of ethics. A business that wants to maintain strong ethics can’t bend or allowindividuals a free pass if it desires personnel to take the policy to heart.
