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A Model of Crisis Prevention (Based on managing change, quality management and risk management)

Author

Listed:
  • Radoica Luburić

    (Central Bank of Montenegro, Podgorica, Montenegro)

Abstract

The main task of this research is to create a model that enables an organization to effectively and effeciently resolve its everyday problems and potential incidents in time to prevent them from turning into a crisis. For solving problems, ad hoc measures and activities are often applicable, while incidents can be resolved by applying appropriate, predefined procedures and planned resources. On the other hand, crises are rarely resolvable through the application of any predefined procedures and plans. They demand changes and innovations, as well as a flexible, creative, strategic and sustained response. Therefore, it follows that it is incomparably better to adequately resolve problems and incidents on time, rather than to grapple with a crisis and all the complexity, uncertainty and anxiety that it brings with it. The Model of Crisis prevention presented in this research is based on effectively managing change and conflict, as well as on the synergy of Quality Management Principles and Risk Management Principles.

Suggested Citation

  • Radoica Luburić, 2019. "A Model of Crisis Prevention (Based on managing change, quality management and risk management)," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 8(2), pages 33-49.
    • Handle: RePEc:cbk:journl:v:8:y:2019:i:2:p:33-49
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    File URL: http://www.cbcg.me/repec/cbk/journl/vol8no2-2.pdf
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    Citations

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    Cited by:

    1. Nikola Fabris & Nina Vujanović, 2022. "What Drives Credit Risk? Empirical Evidence from Southeast Europe," wiiw Working Papers 214, The Vienna Institute for International Economic Studies, wiiw.
    2. Nikola Fabris, 2020. "Financial Stability and Climate Change," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(3), pages 27-43.
    3. Ifrim Ana Maria & Biţan Gabriela Elena & Maier Dorin & Fogoroş Teodora Elena, 2020. "Improving the performance of organizational innovation processes by applying the Six Sigma methodology," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 14(1), pages 1098-1108, July.
    4. Radoica Luburić, 2021. "Crisis Prevention and the Coronavirus Pandemic as a Global and Total Risk of Our Time," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 10(1), pages 55-74.

    More about this item

    Keywords

    Problems; Incidents; Crisis; Quality Management Principles; Risk Management Principles; Change Management; a Model of Crisis Prevention.;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M54 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Management

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