Crisis development and its management

Roman Rak (), Vladimir Sulc (), Dagmar Kopencova (), Frantisek Vlach () and Vladimira Hudecova ()
Additional contact information
Roman Rak: Ambis University, Czech Republic
Vladimir Sulc: Ambis University, Czech Republic
Dagmar Kopencova: Ambis University, Czech Republic
Frantisek Vlach: Ambis University, Czech Republic
Vladimira Hudecova: Academy of the Police Force in Bratislava, Slovakia

Entrepreneurship and Sustainability Issues, 2022, vol. 9, issue 3, 414-428

Abstract: The paper deals with the theoretical concept of crisis. The crisis is an integral and, in essence, regularly recurring part of any human activity. We are facing a crisis in areas such as the economy, politics, the military, civilization, as well as in our private, human lives. The paper analyzes in detail the dimensions and characteristics of the crisis, deals with the various stages of the crisis, their recognition and solution. The paper was created as one of the outputs of the foundation of the theory of security sciences, where the basic general concepts of security character were defined, which are valid in various fields of human activities, including various scientific fields. The concept of crisis is part of threat analysis and subsequent risk management in various fields, including economics, management of state and non-state institutions, business and overall sustainability. The concept of crisis is currently closely linked to global globalization, which brings significant benefits as well as global risks. These risks, which are not well addressed or subsequently managed, can erupt very quickly in a variety of crises of considerable global scope. The paper lists typical symptoms that are important for early detection and crisis management. The paper presents the definitions and relationships between the crisis and the stability of any systems (economic, social, political, etc.). It also provides a classification of crises, its contexts and related panic.

Keywords: economy; crisis; balance; crisis characteristics; panic (search for similar items in EconPapers)
JEL-codes: C88 F22 F24 F52 H56 J11 J15 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:9:y:2022:i:3:p:414-428

DOI: 10.9770/jesi.2022.9.3(25)

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