Panochkina K.V.Institute of Macroeconomic Research, Ministry of Economic Development of Russian Federation, Moscow, Russian Federation panochkina@gmail.com
Importance The article overviews crisis management mechanisms in industrial enterprises under current economic circumstances. Objectives The research examines whether it is possible to timely prevent and overcome crises in enterprises of the real economic sector. Methods I applied analytical, statistical and heuristic methods based on cognitive processes. I provide a general algorithm for crisis management as part of the decision-making process in the real economic sector. Results I identified principal crisis factors, which included bureaucratic trends in corporate management departments, conflicts between departments and employees, zero communications and integration of the general governance and coordination of various functions, and lost control over structural units. The article presents my management approach based on preventive crisis management methods. Conclusions and Relevance Managers in the real sector should have professional knowledge of crisis management techniques so to timely respond to unfavorable changes in the internal and external environment and neutralize their adverse effects. Hence, my crisis management algorithm will be a valuable contribution to knowledge of risk management in industrial enterprises. Crisis management methods can be implemented at various levels of corporate governance to timely prevent and overcome risky situations.
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