ABSTRACT
Chapter 3 draws the reader's attention towards challenges accompanying risk management in crisis situations. The chapter discusses the following issues: (1) characteristic features of crisis as a specific situation for management and managers, (2) types of crises faced by enterprises and managers, (3) approaches and strategies used in crisis management, (4) experience gained by managers from selected major crises. While reading this chapter, the reader will learn how crisis situations influence the attitudes of enterprises and managers, and what tools they have to use to ensure that, despite the crisis, their enterprises will survive and return to the growth path. The examples of three crises (a global financial crisis, a natural disaster and a political crisis) will help the reader to understand the diversity and complexity of crisis situations.
