Factors that Affect the Crisis Solutions Adopted by Organizations

Ionica Simbanu, Liliana Moga, Daniel Tecu and Andi Mihalache
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Ionica Simbanu: Dunarea de Jos University of Galati, Romania
Daniel Tecu: Dunarea de Jos University of Galati, Romania
Andi Mihalache: Dunarea de Jos University of Galati, Romania

Risk in Contemporary Economy, 2023, 272-278

Abstract: This paper examines the strategic decision-making process, in particular the factors that influence the development of a crisis management strategy. The research integrates theoretical concepts from the strategic management literature and the crisis communication literature. The strategic decision-making process for crisis management is influenced by key factors that can be organizational, environmental and managerial. Factors such as comprehensiveness, formalization, politicization, financial aspects, and the impact of the crisis are among the factors that influence strategy formation during an organizational crisis. The external corporate environment, stakeholder interests, organizational performance, organizational size, and crisis responsibility are among the factors that influence strategy selection during an organizational crisis.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ddj:fserec:y:2023:p:272-278

DOI: 10.35219/rce20670532169

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