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CRISIS MANAGEMENT

CRISIS MANAGEMENT. By Elisante Ole Gabriel (Tanzania) egabriel@edenconsult.net, www.olegabriel.com +255-784-455-499. STARTING CRISIS. Starting crisis is the crisis, which is the outcome of the initial (starting stage) errors of the entrepreneurs. Types of Mistakes.

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CRISIS MANAGEMENT

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  1. CRISIS MANAGEMENT By Elisante Ole Gabriel (Tanzania) egabriel@edenconsult.net, www.olegabriel.com +255-784-455-499

  2. STARTING CRISIS • Starting crisis is the crisis, which is the outcome of the initial (starting stage) errors of the entrepreneurs.

  3. Types of Mistakes • Lack of a Thorough Study of Market Potential for Product – lack of business plan. • Lack of All-Round Managerial Ability (lack of experts, an error in managerial decisions, wipe out the entire profit of the unit)

  4. Types of Mistakes • Inadequate Arrangements for Keeping Accounts (lack of qualified accountants) • Underestimation of the Capital Required (promoters do not have adequate funds for investing) • Ignorance about Tax Liability (especially income).

  5. Starting Crisis • Inadequate rounded managerial experience/understanding of the line chosen • Underestimation of the capital requirement for the project • Lack of understanding/arrangements of accounts • Wrong choice of equipments technology/project capacity • Ignorance about taxation.

  6. THE END • It is expensive to manage the crisis than avoiding it • The use of CRM and integrated marketing can help a great deal to avoid crisis. AND.. • No need of panic when there is crisis as that never reduce the crisis but explodes!

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