Risk management Research Paper Example | Topics and Well Written Essays - 3500 words

Risk management - Research Paper Example nstance are events that create potential threats and uncertainty to an organizational priority, while at the same time tainting the overall reputation, image and identity of that organization. Communication crises, on the other hand involve the visual, written, printed or verbal interaction that an organization has with the target audience probable after the occurrence of a crisis. Crisis management, therefore, is a process that involves a company dealing with certain critical events and uncertainties that threaten to harm or disrupt the organizational working course, the public and the company’s stakeholders. Crisis management is a practise that begun in early 1980s after several multinational companies encountered defining moments that led to several business closures worldwide. In public relations, crisis management plays a fundamental role. Nevertheless, it is important to understand the management of crisis by identifying the different types of crises that may befall a company. Crises are disasters that characterize the actual cause of operational difficulty in an organization. A number of types of disasters or crises are possible in several industries (Ushanov, 2010). Natural disasters are caused by exceptional natural conditions like floods, tsunamis, hurricanes, earthquakes, tornadoes, droughts, poverty, and storms. Technological crisis arise from human activities concerning scientific application s that may be faulty. Unlike in the natural disasters, it is possible to hold individuals accountable for technological mishaps. Organizational crisis are those that involve disorganization in the organizational workplace, commonly arising from deception, misconduct and inappropriate managerial skills. Other types of crisis include the rumours, confrontational crisis, terrorist attacks and violence in the workplace. It is extremely hazardous for companies to overlook the possibilities of crisis befalling their organization. The uncertainties and threats that