Crisis Management Involves Identifying Aspects of a Business That Require Changes in Organization

question 168

Short Answer

Crisis management involves
identifying aspects of a business that require changes in organization in three to five years' time.
identifying aspects of a business or its environment that might entail changes in strategy.
ensuring that all the employees know what to do in an emergency.
knowing how to contain a crisis, should one happen.
an organization's methods for dealing with emergencies.

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Definitions:

Average Product

A metric that measures output per unit of a variable input, calculated by dividing total production by the quantity of the variable input.

Diminishing Marginal Returns

A principle stating that as additional units of a variable input are added to a fixed input, the additional output produced from each new unit decreases beyond a certain point.

Diminishing Marginal Returns

A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot increase forever and will eventually decrease.

Marginal Product

The additional output that is produced by adding one more unit of a certain input while holding other inputs constant.