Midterm 1 Flashcards
Crisis Typology (Economic Sphere)
Financial Axis
Industrial Axis
Structural Axis
Social Axis
Industrial Axis
organizations are impacted by external factors that threaten their:
economic, financial, political, and institutional stability (e.g. Covid-19 and massive layoff)
Structural Axis
companies face challenges requiring new organizational structures (e.g., relocations, spin-offs)
Financial Axis
organizations are influenced by both internal (e.g., declining profits) and external (e.g., stock market crashes) financial factors
Social Axis
companies are affected by human factors, including strikes, social movements, and cases of workplace harassment
Crisis typology (Technical sphere)
Internal organizational breakdown
Product failure
Internal organizational breakdown
Fires
Explosions
Transports
Product failure
Use and consumption
Manufacturing
Quality and security
Crisis typology (Political Sphere)
Regulation
Legislation
Regulation
New Law
System Change
Legislation
Court ruling or jurisprudence, renaming a product
Lawsuit or trials involving political and public figures
Crisis Typology (corporate sphere)
Image and Rep
Ethics
Social Responsibility
Image and Rep
Unfunded rumors
Conformed information
Ethics
legal but unethical practices
Social Responsibility
supported by politicians but against public interest
Crisis Accelerators
Tech
Media
Public opinion
Political mistrust
Employees
Search for records and information
Antecedents : products, services, image, reputation, organizational culture, organizational structure…
Market information : financial performance, market share, fiscal records, product recalls, inventory reports, business philosophy
Stakeholder relations : internal conflict, union relations, strikes, social movements, collaboration, ongoing projects
Environmental factors : social, demographic, institutional, cultural and political
Sources of information
Internal
- CEO, employees, union rep.
- documents and records in-house
External
- Media sources
- Open data
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