Crisis management practices are extensively studied by the Harvard Business School experts. They say, crisis management principles can be used to turn hardships into lucrative opportunities. How? Is it feasible? A restaurant owner, Bruce Kroll, sets an amazing example for us.
Crisis Management Success Story of a Restaurant Owner
When his restaurant collapsed during a devastating fire break out, he handled the situation unconventionally. He had 40 employees working for his restaurant. All of them thought that they would be out of job. On the contrary, instead of backing out, Bruce actually rushed to rescue them. He paid them out of his pocket when his restaurant was being rebuilt.
When Bruce was asked about his decision, he said he saw the whole situation differently. He stayed calm and thought it was his investment in employee loyalty. Did Bruce actually win employee confidence and loyalty?
Reportedly, many of his employees decided to continue working at the restaurant for next five years, simply because of the owner and his incredible assistance. They joined him six months after, when his restaurant reopened. When the restaurant was closed during the festive seasons, many of his employees volunteered for social works.
So, when many presumed the situation as a severe crisis moment, Bruce actually reversed its effect and turned it into an opportunity. His effective crisis management strategy earned him employee loyalty.
Crisis Management – An Exceptional Ability to Emerge as a Winner
It’s only an exceptional leadership quality that can help prevent reputation damage. If you’re a good leader, we’ll assume you know its feasibility and applicability during the challenging moments. However, how you perceive this managerial practice, which way you would like to implement its principles and how you believe it can help your organization to preserve its corporate image is key in coming out of business crisis.
It is not only enough to develop crisis management skills. It’s the ability to understand business communications and implement a sharp response to crises, that will go a long way to save your enterprise. Leadership crisis are bond to emerge and you should be ready to respond proactively. You should be able to develop a crisis management plan with effective crisis communication tools available. There are a great number of firms and institutions that provide assistance in crises management. The Institute of Public Relations, for example, provides extensive programs and tools for managers.
Crisis Management Essentials
The point is, good leaders and entrepreneurs figure out ways to flip a challenge upside and reap the opportunities hidden inside. And crisis management best practices are the essential tools which help with that.
Second, you’ve to become a man of action. Whether it’s a crisis inside an organization, or in an employee’s life, winners never back-out. We will never get anything if we cry, blame our luck or the adverse situation. We’ll have to sort out and find a solution to suppress the adversities of the situation.
Here is another example. We all know Steve Job was a visionary. But, his trivializing attitude did put several challenges in front of his team. When he told his manufacturers to produce the special kind of glass for the first iPhones, he assigned aggressive deadlines. As he was not going to listen to them, manufacturers figured out ways to transform the production facility incredibly fast and met the deadline by making the glasses within six months of time.
It is important to note here, that though Steve showed leadership in perusing a vision, his team also showed organizational leadership to avoid a business crisis. But did they profit? Your guess is good as mine. Did they give up to challenges? No, instead, they found out ways to turn the crisis into a promising opportunity. This is how you should use crisis management practices.
The truth is, personal crisis management abilities are important to overcome your fears during crisis periods. Such qualities, challenge you to do the right thing. It enables you to see good at the end of the tunnel. It provides you with the wisdom to interact productively even when you are deserted or criticized for your position.
Want to know more about crisis management? There are a number of books from Harvard that can help you learn how to master the skills to prevent a disaster in your specific endeavor.