BUSINESS CRISIS

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Crisis is a state in a person life when the problems been face by him cannot be solved or escape with his previous problem solving mechanism and at times might appear helpless and hopeless.

As a businessman there are times in our business in which we will be face with one problem or the other in our business and the way out seems difficult infact we might even used some of the method or ways we used to confront issues but it appears unsolved.

Crisis usually occur in a business when the business is at it peak and booming or when we are still trying to start up the business at this stage we tend to be discourage and even think of quiting the business for a while and resuming later when the crises resolve. this period is not the time to be anxious or panic but a time to sit down and look for a way round it we should bear in mind that crises in a business is usually acute and within a short period of time resolve when we face it with the best approach.

HOW TO MANAGE BUSINESS CRISIS

1. A committee should be set up to strategize and delegate actions to resolve the problem. one person actions cannot resolve crisis well in a business.

2. take the problem one by one and solve.

3. All staff should be taken care of appropriately no matter their level before crises occurs so that during crises they will be United and not tear apart. crises period is the time a company/business need it staff unity most.

4. stay positive in all situation.

IN CONCLUSION

For every successful business we see out there there is a point when the business is facing some crises either internally or externally but what keeps the business hight up till now is the ability to face and solve the crises and takes advantage of it.