Topic > Product Damage Crisis Case Study - 832

Such factors include: the company's reputation and social responsibility, the company's response to the crisis, the number and degree of injuries, and external effects during and after the crisis. Developing a clear and effective communications strategy is critical to managing public opinion, establishing internal cohesion and restoring investor confidence. Crisis management refers to the business ensuring, in the event of a crisis, that the business can quickly and effectively return to its primary purpose: to be profitable (source, publication date). Regardless of the type of crisis, the goal is continuity of operations and a return to a stable state. The success of any company is linked to an effective business strategy and must contain risk and crisis management. According to Chong (2004), managers should make a conscientious effort to integrate crisis management into the strategy process