Adaptive Approach in Crisis Management for Economic Uncertainty in Organization
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Abstract
Economic crisis and uncertainty are major challenges that organizations around the world have to face. In the face of these volatile conditions, effective crisis management is essential for organizational survival. This study examines how organizations can manage crisis and economic uncertainty with an adaptive and responsive approach. The approach includes critical elements such as clear communication, resilient leadership, efficient resource management, and utilization of technology for operational recovery. Organizations must have robust contingency plans in place, as well as the ability to quickly evaluate and adjust their strategies according to changing external conditions. Success in managing a crisis depends largely on how quickly and appropriately a organization can respond to changing situations. Organizations that have a strong understanding of risk management and adaptation strategies will have a greater chance of surviving and even thriving during periods of economic uncertainty. It is important for organizations to build resilience and adaptive capacity as part of their long-term efforts to face a challenging future.
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