WHAT IS CRISIS MANAGEMENT AND HOW DOES IT WORK IN A COMPANY?
Whether it’s a restructuring, an update of the IT system, an upheaval in group strategy or the sale of activities, when faced with an exceptional event, it becomes imperative to put in place extraordinary measures. Whatever the nature of the crisis, calling on an expert in interim management facilitates and accelerates the process of change during delicate periods, under optimum conditions. The interim manager thus plays an essential role in delicate periods.
What are the different types of corporate crisis?
Corporate crises can take many forms, depending on the company’s structure, sector of activity and size. It is therefore difficult to categorize them precisely. However, we can identify several situations that can give rise to a crisis.
- 1
Financial crisis: in the event of a financial crisis, which may arise, for example, from a deficit, excessive indebtedness or failure to comply with prudential rules. If this situation threatens to harm customers’ interests, the supervisory body is empowered to impose sanctions.
- 2
Economic crisis: in times of economic crisis, it is possible to witness bankruptcies, particularly in the most serious situations. The State can intervene by supporting companies in difficulty, either through financial aid or by setting up rescue plans. In addition, the economic crisis may lead to the need to implement “austerity plans”.
- 3
Commercial crisis: a commercial crisis manifests itself as difficulties within an economic sector, leading to substantial losses. The repercussions can be considerable for a company, especially if a major competitor enters the market.
How do you deal with crisis management in the workplace?
Anticipating the crisis
To prevent crises, the interim manager works closely with the communications team and the head of the structure to identify potential threats to the company. Its aim is to minimize the impact of the crisis. Effective anticipation of crises generally leads to less serious consequences.
Steering the company through a crisis
In times of crisis, the interim manager can temporarily take over the management of the company. In this situation, he must use his judgment to steer the company through the many challenges it faces. It may be necessary for him to take action while orchestrating a reorganization of the company’s structure.
Corporate crisis management
The way a crisis is managed is a key factor in its success. Indeed, the approach adopted by the interim manager will be decisive in establishing a new professional framework, favoring the return of trust among employees.
Calling on an interim manager for digital transformation
The interim manager is the ideal professional for optimal crisis management in the workplace. With objectivity and clarity, his intervention is temporary and aims to draw up a precise action plan to get out of the crisis. The skills of an interim manager include :
- Exceptional analytical skills to quickly identify issues and risks,
- Strong organizational skills to review and follow up on files from all parts of the company.
- Experience in assessing costs and benefits to define the best course of action.
- Efficient decision-making that is fast, coherent and justifiable.
- Proven leadership and team management experience.
By entrusting your situation to an interim management firm, you can be sure of being put in touch with the right professional. Trust FAITHFUL EXECUTIVE to find the right interim manager for you.
The advantages of working with an interim manager
Calling on an interim manager to navigate through a crisis and draw up an exit plan is generally a beneficial strategy for a company.
- The interim manager may be asked to lead the introduction of a new social policy when the crisis demands it.
- As an external contributor, its presence is limited in time. Mandated for a specific mission, it is competent to define performance targets.
- His wealth of experience in interim management and his knowledge of the corporate market are essential assets in guiding companies through the crisis.
In these contexts, interim management is a strategic reflex.
The main steps in resolving a crisis situation
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