Two Faces of Anti-crisis Management: from Definitions to Concepts

Abstract

Definitions to Concepts Issues related to crisis in business, although present in literature on management for a long time, still remain unexplained to a great extent. Studying the subject literature leads to the conclusion that the concept of anti-crisis management, although present in literature for many years, is understood in a number of different ways. The authors of this article try to systematize approaches to anti-crisis management, starting with approaches and finishing with understanding the very nature (definition) of crisis. They conclude that depending on the way of understanding crisis (its definition), two main approaches to anti-crisis management can be distinguished: one oriented at looking for methods and tools allowing to notice the crisis symptoms early enough, determine its causes and take the appropriate preventive and corrective actions, and one based on building company’s long-term resistance to crisis.