| Having to go through a business crisis is an almost | | | | economic activity. This can be had with businesses |
| inevitable consequence for every activity. In fact, | | | | whose main activity is the acquisition of property. |
| there is little or no assurance that a venture will | | | | In turn, these properties are used as capital for |
| never undergo such a problem. What the | | | | the profit-oriented activity. Sales performance |
| manager can do, however, instead of trying to | | | | refers to the ability of a selling venture to dispose |
| avert or avoid the crisis, is to learn how to | | | | of its stocks with the greatest profit. In the same |
| address it and to prepare the business to be able | | | | way, the higher the profits are, the more |
| to deal with it. This can be done by taking note of | | | | potentially successful the business can be. |
| certain key performance indicators, otherwise | | | | Customer satisfaction is one of the most |
| known as KPI, which determine whether or not | | | | important aspects of any customer-oriented |
| the venture is doing well. For this purpose, | | | | activity. Naturally, what a business aims to achieve |
| effective and efficient management of the crisis | | | | is total customer satisfaction. In fact, even if sales |
| is needed. Taking into consideration and | | | | or profits are low, for as long as customer |
| understanding crisis management KPIs will help it | | | | satisfaction is high, the venture may be said to be |
| survive an ongoing crisis - and any other | | | | successful or at least capable of being successful. |
| impending problem. | | | | Finally, business feedback is the reputation of an |
| Some key performance indicators that may be | | | | entity in terms of its services, products, or any |
| considered are the profits that are being realized, | | | | activity in line with the conduct of its venture |
| if any, losses, expenditures, acquisition of assets, | | | | policies. This will be the culmination of all ideas and |
| sales performance (for a selling business), | | | | impressions of the entity and may well form its |
| customer satisfaction, and business feedback. | | | | official reputation in the economic world. |
| Profits are the main target for profit-oriented | | | | These key performance indicators may be used |
| activities. In this case, generally, the more profits | | | | to determine whether or not an entity is doing |
| being realized, the more successful a venture is. | | | | well in line of its financial or economic purpose. In |
| Losses are almost a regular part of any activity | | | | turn, this information may be used as the basis |
| and cannot be totally prevented - only minimized. | | | | for crisis management in an attempt to prepare |
| This can be done through effective financial and | | | | the same for an impending economic problem. |
| asset management. Expenditures are the | | | | Crisis management KPIs are not simple pieces of |
| expenses of a venture that must be done for it | | | | information that simply show how an entity is |
| to flourish. Examples of these expenditures are | | | | performing; these are also indicators and sources |
| those that are done in order to acquire supplies, | | | | of remedies that the management can take in |
| stocks, and the like. | | | | order to save the same from an economic |
| Acquisition of assets is another matter that is not | | | | crunch or to strengthen it altogether. |
| in line with the more common activities in an | | | | |