CM Lecture 2

Management > Crisis Management > 3 perspectives > Interdependence of the 3 models > Crisis and learning

Companies don't learn, it is the collections of individuals who learn and apply their knowledge. The question is, how do they learn?

From their own experience. Known as single-loop learning, managers sometimes only employ what they have learned in the past, rather than learning anything new.
From the fear of something happening/not happening. Fear makes people irrational in their decision-making.
From what the CEO has learned from his/her position. This links to the idea of where the firm is at present and what can be done to change things. From this, the CEO can carve out what will be.
From rivalry of competitors. Again, a new CEO with a fresh outlook may be better to determine this.