Which of the following statements about decision making in a crisis is true?
A)In crises,managers should make decisions after taking all of the details into account so the decision they make is the correct one.
B)Crisis management can be best handled as the crisis occurs.
C)Unfortunately tracking systems for early warning signals of a crisis are not available so decisions must be made using bounded rationality.
D)An effective plan for crisis management is essential for the management agenda.
E)Crises can never provide benefits to a company.

Question

Quizplus · Accepted Answer

An effective plan for crisis management is essential for the management agenda as it helps to minimize the impact of the crisis and enable the organization to recover from it quickly. Option A is incorrect because in a crisis, there may not be sufficient time to gather all details, and decisions may need to be made quickly. Option B is incorrect because while crisis management plans can be developed in advance, they can be adapted and refined as the crisis occurs. Option C is incorrect because early warning systems for crises do exist, and managers can use them to make more informed decisions. Option E is incorrect because crises can provide opportunities for an organization to demonstrate its resilience and ability to adapt, leading to long-term benefits.

Which of the Following Statements About Decision Making in a Crisis