21 2 What is a crisis? The two objectives of this book are to help you identify the potential drivers of a crisis so that, as a leader, you can take action to avoid one and build a successful recovery plan after a crisis has struck. Over the next three chapters we will focus on ...
However, a depression is more severe and usually longer-lasting. India Today has the following definition of the term: “An economic crisis occurs when a country’s economy faces a sharp downturn as a result of a financial crisis. Under an economy in crisis, GDP will most likely decline, ...
Once completed, the CMP must remain a living document that is distributed to employees, reviewed regularly and updated as the organization's threat/risk landscape changes. A schedule for CMP maintenance and review should be established. After a test or post-crisis, it's important to review the ...
Definition: Financial Crisis refers to a situation in which there is an acute decline in the value of assets. Also, the businesses and consumers are not able to pay off their debts and the banks face liquidity shortages. It is related to abank run– a situation in which many investors sel...
The World Food Programme (WFP)is the food assistance branch of the UN that provides food aid to populations in crisis and vulnerable communities. International Fund for Agricultural Development (IFAD)is a specialized agency of the UN that focuses on financing and supporting smallholder farmers and ...
Phase 1: Pre-crisis.Strictly speaking, the pre-crisis phase is not part of the crisis itself. Rather, it involves planning and education that can help an organization avoid or mitigate a crisis. During this phase, the business must monitor emerging risks, anticipate possible crises, educate int...
The definition of great crisis comms is fast response, accountability, addressing public (or stakeholder) concerns, and of course, transparency. As you might imagine, that necessitates a certain amount of strategic planning and forethought. Preparation: When life gives you apples While we seldom kno...
Understanding the intricacies of liquidity crises is paramount for navigating the complexities of the financial landscape. Liquidity, as the lifeblood of economic functionality, underscores the importance of swift access to cash without incurring substantial losses. The causes of a liquidity crisis are mul...
“I confess that I have no clear definition of a constitutional crisis,” he said, adding that he does have clear ideas about what is not a constitutional crisis: “It cannot just be a disagreement over the meaning of the constitution. It cannot be just a fight between the...
Liquidity crisis. As LTCM's positions moved against them, they needed to unwind trades, but the sheer size of their positions made this difficult without causing others in the market to move against them. Systemic risk. LTCM's potential collapse threatened the broader financial system, leading to...