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Student Research Forum

Quinton Shamsabady: "Is Your Business Prepared?"

 Quinton Shamsabady presents research poster

Research Category

Empirical study

Research Purpose

How many know exactly how their business would fare if a crisis arose? The purpose of this research is to prove that not only is a crisis management plan a good thing but also, if employed correctly, good crisis management accomplishes much more. Good crisis management should involve more than simply trying to minimize danger to an organization; it should also seek to maximize every possible opportunity. The Crisis Management Plan (CMP) is a documented plan detailing the actions business executives want performed when a crisis strikes. It is designed to bring some order out of complete chaos.

Research Methodology

My research includes books describing how to develop a crisis management plan. I have examined government articles, from the U.S. Food and Drug Administration on emergency preparedness and response. I reviewed cases in which CMPs have made the difference, both good and bad. I have also studied articles from reliable websites such as Forbes and others devoted specifically to crisis management.

Research Conclusion

After investigating and interviewing both small businesses and larger ones in the area, I have concluded that many companies have their own ways of developing a crisis management plan, but some businesses think they have no need for one. I have concluded that no matter how big or small a business is, each one needs a plan and should follow these simple steps:

1.       Take charge quickly

2.       Determine the facts

3.       Tell your story

4.       Fix the problem

A company can develop a CMP that can turn a crisis into an opportunity.

Research/Practical/
Social Implications

When a crisis occurs, the hardest part of dealing with it can involve answering the public's call for information. History has proven that having a well-developed CMP can make all the difference.  In today's world of instant news, one bit of bad publicity can destroy a company. The reason forward-thinking companies are proactively practicing crisis management is that no executive wants that blemish on his or her company. With the recession, businesses are losing money by the bundle, but they are also spending money to guard themselves against any business catastrophes.