Crisis Management

The subject aims to familiarize students with a range of complex crises that are happening in the world today. The purpose of the subject is to acquire knowledge about the terms and scope of the crisis, the knowledge that will enable the acquisition of competencies and skills for planning measures and activities to prevent and combat the crisis, more successful crisis management, operation and communication in conditions of crisis, as well as dealing with the consequences of crises. In this subject, students will become familiar with methods of studying the contemporary crisis, as well as methods for their identification.

The subject aims to familiarize students with a range of complex crises that are happening in the world today. The purpose of the subject is to acquire knowledge about the terms and scope of the crisis, the knowledge that will enable the acquisition of competencies and skills for planning measures and activities to prevent and combat the crisis, more successful crisis management, operation and communication in conditions of crisis, as well as dealing with the consequences of crises. In this subject, students will become familiar with methods of studying the contemporary crisis, as well as methods for their identification.

The student should understand and critically analyze how to manage modern companies in crisis situations, to understand business crises as phases in the development of the company, to acquire knowledge about the types, symptoms and process of business crisis, as well as specific knowledge of the instruments of prevention, and managing of business crisis. Once they master this subject, students will be able to identify the crisis by recognizing its symptoms, to determine the causes, and develop a plan to overcome the crisis through the identification of phases of crisis management.

Introduction to business crisis; Conceptual definition of crisis and business crisis, characteristics and typology of the crisis; Sources and causes of business crises; Process of crisis management; Crisis management in the narrow and broad sense; Information network; Phases of the crisis management process; Anticipatory crisis management; Risk management in terms of its system processes, organizations, and bearers of this procedure; Solvency and relevant issues of instruments of analysis and evaluation; Rating evaluations (external and internal); The Basel principles; Identifying business crisis; An early warning system; The symptoms of the crisis; Systemic crisis; Crisis of success; Liquidity crisis; Business analysis as a method for identifying crisis; Reactive crisis management, strategic renewal, communication in crisis.

Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points)

Osmanagić Bedenik, N. (2003) The Crisis as an Opportunity - Through a Business Crisis to Business Success, second revised edition. Zagreb: Školska knjiga; International Finance Corporation. (2010). Crisis Management: Manual. NW, Washington; Stuart, S.; Lovett, D. (2011). Corporate turnaround. Managing Companies in Distress. Zagreb: Mosaic book.