Organizational Resilience in Times of Crisis
Does the people centered management philosophy still work during crisis? © 2005, Coert Visser Summary - Researchers like Kim Cameron and Wayne Cascio have said for years that a strategy of laying-off people in many cases does not work, and may even backfire, in times of crisis. The situation in the American airline industry after the terrorist attacks of 9/11 was an almost unparalleled crisis. An excellent chance to take the test. Which companies proved to be most resilient and why? “We are willing to suffer some damage, even to our stock price, to protect the jobs of our people.” - Jim Parker, CEO of Southwest Airlines”, 8 OCTOBER, 2001 Crisis in the airline industry Since 9/11 terrorist attacks, the world economy has suffered severely. The airline industry is one of the worst hit sectors. Passenger numbers fell back drastically, companies showed huge losses, and stock prices fell. Large numbers of employees lost their jobs. These traumatic events have confronted the sector with an ul...