Firms involved in international business are affected by many crisis and crisis‐like events not generally associated with normal operations. Crisis management provides a business firm with a systematic, orderly response to crisis situations. Many crises can be prevented – or at least coped...

This article deals basically with the dynamic environment of today’s businesses. Despite all of the efforts a company puts forth to scan the environmental issues, crises can occur and have to be managed. We have first reviewed several crises in businesses during the recent times, to define and...