An Extensive Academic Approach to Crisis and Crisis Leadership

Abstract

Crisis, which has different connotations of meaning according to the place and time of emergence, is a tension situation that is unexpected, threatens the values, goals and vision of the institution, and requires immediate action in the business literature. Crises are situations that require urgent and effective intervention as they threaten organizations' goals and their existence. Therefore, crisis leaders are needed to rescue the organization from crises with minimum damage during crisis times, and even to transform the crisis into a rare opportunity for the organization. Crisis leadership is the type of leadership that contributes to the survival of the crisis with the proposal of a solution to the crisis. Today, rapid changes in globalization and technological developments create a constant ambiguity for organizations. Along with increasing global competition, crises constitute major threats to organizational life. For such reasons, crisis leadership is of vital importance for businesses today. In this study, a detailed survey of the literature on crisis and crisis related factors, crisis management and its stages, the methods needed to successfully come out of the crisis, and crisis leadership will be carried out. In this way, a compiled resource will be presented to the scientists who will do theoretical and empirical studies on the subject.

Keywords: Crisis, Crisis Leadership, Globalization, Technological Developments, Crisis Management.