Business Crisis Management Quotes & Sayings

The situation - having to choose between imposing higher retail prices and reducing investments and military spending - created a dilemma for the government: deciding between conflict with the public or with the Party economic elite. But not making a decision heightened the risk that, as the crisis developed, there would be conflict with both the public and the elite.18 The new generation of leaders clearly did not understand this. The traditional management of the economy was oriented on natural, rather than abstract, parameters. The development of cattle breeding was discussed at the highest level more frequently than the country's budget. Industry and business leaders regarded finances as necessary but dreary bookkeeping.19 In addition, information on the real state of the budget, hard currency reserves, foreign debt, and balance of payments was available only to an extremely narrow circle of people, many of whom understood nothing about it anyway. — Yegor Gaidar

Ultimately, the purpose of a certification is to establish a particular level of proficiency in a discipline. Unfortunately, "social media" in and of itself, is not a discipline. Digital crisis management, on the other hand, is. So are digital customer service and online community management. This means that a certification program that focuses on social media without addressing each specific business function adapted to social media won't end up certifying anyone in much of anything. — Olivier J. Blanchard

For individuals and organizations alike, a reputation is far easier to destroy than it is to build. — Andrew Griffin

Reputation is an outcome; but it is also a valuable, strategic asset. — Andrew Griffin

Bob Iger, Disney's chief operating officer, had to step in and do damage control. He was as sensible and solid as those around him were volatile. His background was in television; he had been president of the ABC network, which was acquired in 1996 by Disney. His reputation was as an corporate suit, and he excelled at deft management, but he also had a sharp eye for talent, a good-humored ability to understand people, and a quiet flair that he was secure enough to keep muted. Unlike Eisner and Jobs, he had a disciplined calm, which helped him deal with large egos. " Steve did some grandstanding by announcing that he was ending talks with us," Iger later recalled. " We went into crisis mode and I developed some talking points to settle things down. — Walter Isaacson

The management of the New York fiscal crisis pioneered the way for neoliberal practices both domestically under Reagan and internationally through the IMF (international monetary fund) in the 1980s. It established the principle that in the event of a conflict between the integrity of financial institutions , on one hand , and the well-being of the citizens on the other, the former was to be privileged .it emphasized that the role of the government was to create a good business climate rather than look to the needs and well-being of the popualtion at large. — David Harvey

What we call a financial crisis is really at its core a crisis of management, and not just a crisis of management, but a crisis of management culture ... In other words, what you had is a detachment of people who know the business from people who are running the business. — Henry Mintzberg