Conceptualization of Crisis Situation in a Company

Asta Valackienė and Rūta Virbickaitė

Journal of Business Economics and Management, 2011, vol. 12, issue 2, 317-331

Abstract: The paper highlights theoretical construct of crisis situation in a company emphasizing the methodological positions of a social phenomenon. Applying systemic analysis of crisis situation in a company the paper discusses hardly spread social phenomenon, i.e. occurrence and expression of crisis situation in a company. On the basis of retrospective analysis of crisis situation, both crisis environment and bankruptcy features are presented and principal keywords defined with reference to crisis in a company as a social phenomenon and related to its environment: human, company-based, national and global. It shows the complexity of the scientific research object, that brings meaningful input into the analysis of crisis features in company life cycle. The paper aims at discussing and presenting critical reviews of crisis situation interpretations with emphasis on methodological positions of social phenomenon in different disciplines. The differences and links between crisis and crisis situation are also explained. Through explanation of logical construct of the paper, the authors specify crisis concept in a company: distinguishing negative changes in a company, that make the company staff apply crisis communication process and instrumentalities. In the above mentioned context the problem of crisis situation in a company remains significant from psychological, social and economic and managerial perspectives.

Date: 2011
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DOI: 10.3846/16111699.2011.575192

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