Managing the Crisis You Tried to Prevent Essay

8648 Words Sep 22nd, 2012 35 Pages
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Essay Sample: Page 2
Augustine



2



Managing the Crisis You Tried to Prevent



There is a tide in the affairs of men, which, taken at the flood, leads on to

fortune; Omitted, all the voyage of their life is bound in shallows and in

miseries.

-William Shakespeare

... .........

From this incisive passage in Julius Caesar, Shakespeare shows himself to be

not only a brilliant poet and dramatist but also an excellent businessperson. For

as regular as the tide are headlines announcing that yet another business has

stumbled into a crisis —often without warning and sometimes through no direct

fault of its management. Earlier this year, a single day’s copy of the Washington

Post reported the almost unprecedented series of crashes suffered by American

Eagle Airlines; the possible connection between some of the crashes and aircraft

built by the French company Avions de Transport Regional; the bankruptcy of

Orange County, California, stemming from speculation in leveraged derivatives;

and Intel’s travails with its Pentium microprocessor. All in all, a good day for bad

news. Business as usual, some might say.

The airline, financial securities, and computer industries are, of course, not alone

in facing crises. And the tribulations of 1995 are hardly unique. Throughout

history, there has been no shortage of business crises. In 1637, speculation in

Dutch tulip bulbs peaked at today’s equivalent of more than
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