A PROPOSAL FOR CRISIS MANAGEMENT PROCESS AND PRE-CRISIS EARLY WARNING SYSTEM IN ENTERPRISES

Abstract

Today, rapid changes in national and international environmental conditions significantly affect organizations and drive them to various risks, uncertainties, threats and complex crisis situations. The ability of organizations to maintain their existence depends on their ability to protect themselves from these threats or to evaluate opportunities. Crises can often come with warning signals, or with sudden new formations. The purpose of this study is to suggest an early warning model based on statistical and financial tables for the early warning system that takes the first place in the pre-crisis management process in the enterprises. For the period of 2008.Q3, in which the financial crisis was experienced effectively, with the reason of being a reference early warning system for 147 industrial companies in BIST, it was solved with the help of factor analysis.