Crisis management is the application of strategies designed to help an organization deal with a sudden and significant negative event.
A crisis can occur as a result of an unpredictable event or an unforeseeable consequence of some event that had been considered as a potential risk. In either case, crises almost invariably require that decisions be made quickly to limit damage to the organization.
The nature of the potential damage varies based on the nature of the crisis. In most cases though, a crisis can affect health or safety, the organization's finances, the organization's reputation, or some combination of these. A devastating fire could be a crisis that puts the organization's finances in jeopardy. However, if the fire occurs during business hours, then the fire might also jeopardize health and safety since employees may find themselves in harm's way.