TITLE:
The Competent Management Team as a Condition for Successful Crisis Solving
AUTHORS:
Drago Dubrovski
KEYWORDS:
Crisis, Crisis Management, Crisis Team, Competences
JOURNAL NAME:
Open Journal of Business and Management,
Vol.2 No.4,
October
16,
2014
ABSTRACT: To stop adverse trends and handle the crisis situation on the one hand and to reach turning-point and insure the foundations for new development on the other hand are usually two basic tasks of crisis management when it performs necessary activities in the company in acute crisis. For the successful resolution of a crisis, it is of key importance that the crisis is tackled by managers who along with a desirable knowledge of the company’s activities are familiarized with the special characteristics of the crisis management and general creative (intuitive) approach. For their work crisis management will require strategic, as well as fully operational formal and empirical knowledge, possessing at least the minimum amount of knowledge from every business field. Based on the research described in this paper using the sample of selected companies undergoing acute crisis, it is emphasized that from all necessary competences, which crisis team members should possess, the most important thing is the knowledge and experiences from the area of radical restructuring of the company, whereas the familiarisation with the field of operation whose characteristics can soon be mastered by the crisis team members is less important. The financial view of the acute crisis resolution is very important; however, the company cannot further survive if only this area of operation is addressed.