Sample Essay
At the onset of the crisis stage the Northern Rock Crisis was triggered and aggravated by the business model of the company which relied on attaining 77 percent of the funds from the wholesale money lenders while only 23 percent from the personal savings in the bank. This resulted in the limited liquidity of funds available to run the high risk business model which was further aggravated by the inadequacy of the company insurance to cover the retail run which in turn effected the retail banking operations of the business as well.
The third stage of the crisis legitimization depicts that the situation and the crisis of the company leaked out and was aired on the BBC television network, in the face of which the company was unable to effectively management the [public relations. Aside from these the management of the company was restructured while the search for a low risk model was made to sustain the company along with the use of turnaround strategies.
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