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What is Business Crisis

Business Continuity Management and Resilience: Theories, Models, and Processes
A serious difficulty or danger to the business, such as: interruption of the supply of raw materials; limiting access to buildings, machines, facilities; limiting access to finance; theft or vandalism; loss of key personnel; disease outbreak; a large-scale occupational accident; crises affecting reputation, etc.
Published in Chapter:
Crisis Management Challenges
Elitsa Petrova (Vasil Levski National Military University, Bulgaria)
DOI: 10.4018/979-8-3693-1658-0.ch002
Abstract
The world is facing unprecedented crises and emergencies on a global scale. They are distinguished by the inclusion of new elements and characteristics in them, their extreme intensity, they are complex and complicated, and they affect many sectors of social development. Politics and diplomacy are often silent or unable to achieve the required result. Civilians, military personnel, women, children completely senselessly lose their lives for impossible and strange causes or for those that should unite and not divide people, families, society. The international community and world leaders must take immediate measures to reduce military conflicts and crises, poverty and inequality, hunger and disease, violence against women and children. This chapter examines Crisis (essence, content, views), traditional and modern forms of crises, unprecedented crises and emergencies on a global scale, and the crisis management concept framework.
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Entrepreneurial Innovative Business Strategies for COVID-19 Impact Minimization to Enhance Sustainability
A disaster which negatively affects operations of many businesses (across countries) which in turn leads to reduce or even negative business profit margins.
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