Crisis situations are inevitable in the business domains. Companies can handle crisis situations easily if they behave in a proper manner and take planned actions. This article tries to explore the steps that are necessary to control the crisis situation; it discusses the importance of information and communication in crisis, how to leverage on strengths and opportunities, how to handle customers and thus be in control of the situation instead of panicking. In fact, handling crisis efficiently makes the companies grow stronger than before.

One cannot imagine human life without any crisis. However cautious or planned one is in life, there are certain situations where one has to face sudden problems which turn out to be crisis. Since business organizations also have a life cycle like human beings, they also are certain to face some crises. These may be from the financial angle, personnel angle (human resource problem), or even health angle (the company personified may be in the dying stage, rather than being on the growth path). To be more specific, the problems can be declining customer base or sales, worker unrest, declining net margins, news of a possible hostile takeover bid, etc. So these problems can rise from anywhere - within the organization (internal crisis) or from the turbulent external business environment (external crisis). In order to sustain the business growth in the long-run, it becomes necessary to effectively meet such crises.

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