Business threatening event such as:
A disaster (due to fire, bomb, etc.)
Or a business disruption (due to a strike, disease, power failure, IT incident, network problem, security incident, flooding etc.)
affecting the services of the organization and for which pre-defined thresholds (as per SLA’s/OLA’s, regulatory requirements, etc.) are exceeded.
Crisis Management is the act of planning for crisis and unexpected situations by forecasting bad scenarios that could happen and then suggesting a solution to each one of them.
The benefit of Crisis Management is that it prepares the company to bad event so that when it happens, management don’t panic nor give an emotional decision”.
During the Crisis Management process, it is important to identify the proper type as different crisis necessitates the use of different Crisis Management Strategies