Types of crises in organizations (based on Fumak LLC and Coca-cola case)

Abstract

Given that today's businesses operate in a rapidly evolving environment, it becomes imperative for them to be flexible and adaptive to changing circumstances to be sustainable in the long run. This bachelor thesis explores the impact of various types of crises and crisis management approaches in different domains and sectors. The paper takes the case study of a leading global organisation, Coca Cola and a small business Fumak to depict how the firm efficiently employed its crisis management framework in dealing with the different crises, including COVID-19. The core focus of the thesis will be on the recent pandemic, COVID-19 and how organisations, specifically Coca-Cola and Fumak, redesigned their strategies and response actions to sustain themselves. The core data sources for this thesis are published articles and peer-reviewed scholarly journals published in the past decade. The paper also sheds light upon the role of different teams and expected individual responses in a workplace during crisis management. In addition, the research provides insights and recommendations for organisations to enhance their crisis management capabilities and achieve effective crisis management outcomes. Although crisis management frameworks have been a renowned topic amongst scholars pertaining to natural and economic factors, however, COVID-19 was a relatively new phenomenon for the entire globe. Therefore, it requires more attention for future research.