Sample Essay
This is because the employees, management and the board of directors are responsible for managing the crisis and making the company survive though it while the established values and the organizational culture from the guidelines of business practices which can add to or help manage the crisis. Gerald Lewis highlighted the link and the importance of organizational culture when managing crisis in his book.
He mentioned that “if its through cultures that values are determines and expresses, if its through cultures that external events are understood, if its through cultures that external events are understood, if its though cultures that an individual experiences a sense of community and connection, if its through cultures that one derives a sense of sense of sensibility and structure then It is obvious that a crisis management plan must start with an assessment of an organization’s culture” (Lewis, 2006, 23). The Northern Rock Crisis depicts that the organizational culture of the companies operating in the mortgage industry led to the crisis for the Northern Rock Bank. The US based mortgage companies has the organizational culture to be highly profitable, make sales and increase their customer volume base for overall profit maximization, and the business practices of lending to a subprime market which was unable to pay back the mortgage led to the crisis for the bank when the funds in the market became insufficient for the Northern Rock Bank to operate in its traditionally high risk business model.
These are model essays please place an order for custom essays, research papers, term papers, thesis, dissertation, case studies and book reports.
