NTU Course
Overview

Crisis Management

Offered in 114-2
  • Notes

    The course is conducted in English。

  • Limits on Course Adding / Dropping

    • Restriction: students in GMBA Degree Students or Restriction: students of the College of Management (including students taking minor and dual degree program) or Restriction: Exchange students or Visting Students of the College of Management

  • NTU Enrollment Status

    Enrolled
    0/50
    Other Depts
    0/0
    Remaining
    0
    Registered
    0
  • Course Description
    The advent of globalization and the Internet has ushered in numerous economic benefits. However, it has also interconnected global economies and supply chains, thereby increasing the vulnerability of companies to a wide range of rapid and often unpredictable events. These include changes in national policies, international political incidents, natural disasters, and local incidents, all of which necessitate swift and effective managerial responses, strategic risk management, and crisis communication skills. Crisis management equips leaders with the necessary skills to navigate these challenges. This includes: a) Pre-crisis skills for performing vulnerability assess to identify potential risks and understanding the factors that make up these risks. But also avoidance strategies, such policy and ESG adherence. b) Crisis response skills that encompass effective and decisive communication abilities, comprehension of risk reduction strategies, and the ability to engage all stakeholders ethically and effectively. c) Post-crisis skills that aid companies in not only recovering their reputation but also learning from the experience to develop lasting responses and adaptations that help prevent recurrence. This course places a strong emphasis on practical, real-life applications. As such, it draws on recent case studies and other sources.
  • Course Objective
    Upon successful completion of this course, students will have the ability to: 1. Perform risk assessments for the internal and external firm environment. 2. Understand and delineate the typical progression stages from risk identification to a crisis. 3. Conduct vulnerability assessments. 4. Design risk avoidance strategies. 5. Formulate an effective crisis preparation plan. 6. Assemble and effectively manage a crisis management team. 7. Compose a strategic crisis communication plan.
  • Course Requirement
    5~8
  • Expected weekly study hours before and/or after class
  • Office Hour
    By Appointment
    *This office hour requires an appointment
  • Designated Reading
    All designated readings are shared through the NTU Cool class platform.
  • References
    Case Studies and additional course materials are provided through the NTU Cool System. Textbook and HBR References: Congleton, R. D. (2005). Toward a political economy of crisis management: rational choice, ignorance, and haste in political decision making. Dynamics of Intervention, Advances in Austrian Economics, 8(1), 83-204. Congleton, R. D. (2009). On the political economy of the financial crisis and bailout of 2008–2009. Public Choice, 140(3-4), 287-317. Crisis Leadership: Planning for the Unthinkable (1st edition) (Required) Mitroff, Ian Wiley (2004) Daniel A. Gruber, Ryan E. Smerek, Melissa Thomas-Hunt, Erika H. James (2015). The Real-time Power of Twitter- Crisis Management and Leadership in an Age of Social Media. https://hbsp.harvard.edu/product/BH658-PDF-ENG?Ntt=The+Real-time+Power+of+Twitter-+Crisis+Management+and+Leadership+in+an+Age+of+Social+Media&item FindingMethod=Search Melissa R. Bowers, J. Reggie Hall, Mandyam M. Srinivasan (2017). Organisational Culture and Leadership Style- The Missing Combination for Selecting the Right Leader for Effective Crisis Management. https://hbsp.harvard.edu/product/BH832-PDF-ENG?Ntt=Organizational+Culture+and+Leadership+Style-+The+Missing+Combination+for+Selecting+the+Right+Leader+for+Effective+Crisis+Management+&itemFindingMethod=Search Mark S Schwartz, Wesley Cragg, Michael W Hoffman (2012). An Ethical Approach to Crisis Management. https://hbsp.harvard.edu/product/IIR087-PDF-ENG?Ntt=An+Ethical+Approach+to+Crisis+Management&itemFindingMethod=Search Academic References: Abboodi, B., & Pileggi, S. F. (2023). Social Networks in Crisis Management: A Literature Review to Address the Criticality of the Challenge. Encyclopedia, 3(3), 1157-1177. https://doi.org/10.3390/encyclopedia3030084 Aven, T. (2011). "Quantitative Risk Assessment: The Scientific Platform." Quantitative Risk Assessment. DOI: 10.1017/CBO9780511974120 Beilstein, C. M., et al. (2021). "Leadership in a time of crisis: Lessons learned from a pandemic." Best Practice & Research Clinical Anaesthesiology 35(3): 405-414. https://doi.org/10.1016/j.bpa.2020.11.011 Boin A, ‘t Hart P, Stern E, Sundelius B. The Politics of Crisis Management: Public Leadership under Pressure. 2nd ed. Cambridge University Press; 2016. Borodzicz, E. P. (2005). Risk, Crisis and Security Management. Wiley. https://archive.org/details/riskcrisissecuri0000boro/page/n7/mode/2up Coombs, W. T. (2015). Ongoing Crisis Communication: Planning, Managing, and Responding (4th ed.). SAGE Publications.https://archive.org/details/ongoingcrisiscom0000coom/page/n7/mode/2up Hazaa, Y. M. H., Almaqtari, F. A., & Al-Swidi, A. (2021). Factors Influencing Crisis Management: A systematic review and synthesis for future research. Cogent Business & Management, 8(1), 1878979. https://doi.org/10.1080/23311975.2021.1878979 Jorion, P. (2007). Value at Risk: The New Benchmark for Managing Financial Risk (3rd ed.). McGraw-Hill Education. https://link.springer.com/article/10.1007/s11408-007-0057-3 Kaplan, R. S., & Mikes, A. (2012). Managing Risks: A New Framework. Harvard Business Review, 90(6), 48-60. https://hbr.org/2012/06/managing-risks-a-new-framework Pearson, C. M., & Mitroff, I. I. (1993). From Crisis Prone to Crisis Prepared: A Framework for Crisis Management. Academy of Management Journal, 36(1), 157-191. https://doi.org/10.5465/ame.1993.9409142058 Seeger, M. W. (2006). Best practices in crisis communication: An expert panel process. Journal of Applied Communication Research, 34(3), 232-244. https://doi.org/10.1080/00909880600769944 Shrivastava, P., Mitroff, I. I., Miller, D., & Miclani, A. (1988). Understanding Industrial Crises. Journal of Management Studies, 25(4), 285-303. https://doi.org/10.1111/j.1467-6486.1988.tb00038.x Vašíčková, V. (2019). Crisis Management Process - A Literature Review and a Conceptual Integration. Acta Oeconomica Pragensia, 27(3-4), 61-77. https://doi.org/10.18267/j.aop.628 Industry References: Aon. (2020). Global Risk Management Survey 2020. Aon.https://www.aon.com/en/insights/reports/global-risk-management-survey/key-findings BCI. (2024). BCI Crisis Management Report 2024. F24. https://f24.com/en/bci-crisis-management-report-2024/ Deloitte. (2020). Crisis Management Insights to help organizations respond to COVID-19. Deloitte US. https://www2.deloitte.com/us/en/pages/risk/topics/crisis-management.html Deloitte. (2024). Crisis Management – Perspectives, Analysis, and News. Deloitte. Retrieved December 31, 2024, from https://www2.deloitte.com/us/en/pages/risk/topics/crisis-management.html Elst, O. (2021). The implementation of a dynamic crisis management framework. KPMG. Retrieved December 31, 2024, from https://kpmg.com/be/en/home/insights/2021/05/rc-the-implementation-of-a-dynamic-crisis-management-framework.html Elst, O. (2024). New global internal audit standards. KPMG. Retrieved December 31, 2024, from https://assets.kpmg.com/content/dam/kpmg/be/pdf/2024/RR-GIAS-2024-EN-brochure-A4-LR.pdf make an apa 7 reference for this current page Elst, O. (2024). Key risks to consider for your 2024 Internal Audit plan. KPMG. Retrieved December 31, 2024, from https://kpmg.com/be/en/home/insights/2024/01/rr-key-risks-to-consider-for-your-2024-internal-audit-plan.html; https://assets.kpmg.com/content/dam/kpmg/be/pdf/2024/RR-Internal-Audit-Risk-2023-EN-brochure-A4-LR_FINAL.pdf FEMA. (2011). Crisis Response and Disaster Resilience 2030: Forging Strategic Action in an Age of Uncertainty. Federal Emergency Management Agency. https://irp.fas.org/agency/dhs/fema/crisis.pdf KPMG. (2021). Business Continuity Management and Crisis Response: Preparing for the Unexpected. KPMG. https://assets.kpmg.com/content/dam/kpmg/ca/pdf/2020/03/cyber-resilience-crisis-business-continuity-planning-en.pdf McKinsey & Company. (2016). Managing Risk in an Uncertain World: The Risk Practice. McKinsey & Company. https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/Risk/Our%20Insights/McKinsey%20on%20Risk%20Issue%201%20Summer%202016/McKinsey-on-Risk-Issue-1-Summer-2016.pdf; https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/meeting-the-future-dynamic-risk-management-for-uncertain-times#/; https://www.mckinsey.de/~/media/McKinsey/Business%20Functions/Risk/Our%20Insights/Value%20and%20resilience%20through%20better%20risk%20management/Value-and-resilience-through-better-risk-management-final.pdf PwC. (2023). Risk in Review: Global Risk Management Survey. PwC Global. https://www.pwc.com/gx/en/issues/risk-regulation/global-risk-survey.html PwC. (2024). Global Centre for Crisis and Resilience. PwC. Retrieved December 31, 2024, from https://www.pwc.com/gx/en/issues/crisis-solutions.html
  • Grading
    20%

    Attendance and Class Participation

    The various in-class activities will include case discussions, application activities, peer reviews, and workshops. Students who cannot attend class should please apply for a leave of absence in advance and inform their teams. Please take note of the class participation policy as communicated at the start of class and through class announcements.

    30%

    Class Assignments and Case Writeups

    Students will be asked to conduct class analyses activities and case analyses using the assigned cases. There are 3 such assignments, each taking up 10% of the total grade. Additional details are provided in class and on assignment pages.

    20%

    Business Vulnerability Assessment

    Using the provided Assessment tools, students are tasked to perform a probability risk assessment of an assigned industry and draft the initial section of the Crisis Management Plan.

    30%

    Crisis Management Plan

    Building on the midterm project, we will work to complete the crisis management plan, including sections on containment plans and communication strategy.

    1. NTU has not set an upper limit on the percentage of A+ grades.
    2. NTU uses a letter grade system for assessment. The grade percentage ranges and the single-subject grade conversion table in the NATIONAL TAIWAN UNIVERSITY Regulations Governing Academic Grading are for reference only. Instructors may adjust the percentage ranges according to the grade definitions. For more information, see the Assessment for Learning Section。
  • Adjustment methods for students
  • Make-up Class Information
  • Course Schedule
    2/26Week 1Session 1: The Introduction to the course - Course Overview - The crisis management landscape - Risk Management Overview - Crisis Management
    3/5Week 2Session 2: Sources of Change & Crises - Political and Non-Political Sources of Crises - Policy, Institutions, and Institutional Change - Seven indications that crises are taking shape. - Why warning signs are often unheeded.
    3/12Week 3Session 3: The Role of Change in Risk and Crisis Formation - The Impact of Rapid Changes, - The Interaction political and economic forces behind crisis risk. - The Role of Technology in Crisis Formation
    3/19Week 4Session 4: Comprehensive Risk Measurement - Traditional Approaches to Measuring Macroeconomic Exposure - Comprehensive Risk Measurement: Interdependence Between Macroeconomic Variables - Graphical Representation of Risks (e.g., Value at Risk)
    3/26Week 5Session 5: Planning for Risk Management - Characteristics of an Effective Crisis Management Team - Forming the Crisis Management Team - Formulating a Crisis Management Plan - Evaluating and auditing crisis risks Assignment Due: Case Writeup 1
    4/2Week 6Session 6: Conducting a Risk Reduction Plan - Tools and Techniques for Risk Management - Strategies for Crisis Prevention - Hedging Strategies for Macroeconomic Risks
    4/9Week 7Session 7: Training and Preparing for Crisis Management Recommended Readings: Managing Disasters-Learning from experience (Ch8) - Training and Crisis Preparedness - Crisis Learning
    4/16Week 8Session 8: Midterm Presentation: Crisis Management Plan Midterm Assignment: Risk Assessment
    4/23Week 9Session 9: Advanced Financial Tools for Crisis Prevention - Quantifying Risks - Using a probability-based risk audit to determine the cost of risk avoidance. - Prioritising Risks - Managing risks from Human Resources - Understanding the role of Power Dynamics and Culture - Twitter under Elon Musk
    4/30Week 10Session 10: Crisis Leadership: Taking Decisive Action - Disaster Containment: The importance of moving quickly and decisively - The role of communications - How project management techniques can help in crisis resolution - Haidilao Catering- From a Hot Pot to Crisis Management Assignment Due: Case Writeup 2
    5/7Week 11Session 11: Crisis Leadership: Why Strong Leadership Matters - Failure of Conventional Training, Organisations & Responses - The personalities of organisations - Corporate Culture and the Cult of Personality - Lessons from FTX Bankruptcy Committee
    5/14Week 12Session 12: Crisis Communication: Ethics and Managing Credibility Recommended Readings: An Ethical Approach to Crisis Management - The underlying role of Ethics in Crisis Management - Seven Dimensions of Crisis Communication Management - Dealing with print and electronic media - Using audience segmentation to create a systematic communication strategy. - Dieselgate: The Volkswagen Crisis
    5/21Week 13Session 13: Crisis Communication: Writing a Press Release and Managing the Media Recommended Readings: The Real-time Power of Twitter- Crisis Management and Leadership in an Age of social media. - Spreading Crisis at the speed of Twitter - Using social media Strategically - Dieselgate: The Volkswagen Crisis
    5/28Week 14Week 14 (05/28): Activity: Press Conference
    6/4Week 15Session 15: Crisis Leadership: The rise of Abnormal Incidents Recommended Readings: Are You Leading Through the Crisis or Managing the Response - Leading under pressure - Dealing with the unknown - Corporate Culture and the Cult of Personality - Lessons from Theranos
    6/11Week 16Session 16: Final Presentations Final Assignment: Strategic Management Plan
    Week 17Instructor-Student Meetings (to be arranged during week 16)
    Week 18Instructor-Student Meetings (to be arranged during week 16)
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