AbstractsBusiness Management & Administration

The purpose of this research is to show the opportunities that Business Simulations produce when combining them with Crisis Management in a non-controlled environment. Although, there are some other studies about each topic, but this non studied synergy created shows a much more important and efficient effect when talking about managing a crisis. We used a systematic data collection of relevant articles that talked about each stage of a crisis management, making a vast literature background for each one. A combination and collision of conclusions and studies of each topic, ended up in the main topic of this article, where the authors got to capture the importance and efficiency of the combination strategy between Crisis Management and Crisis Simulation. We found that crisis management literature divides a crisis in three stages: Prevention, Handling and Recovering. These stages allude to the timing of the action to control the crisis, where a pre-crisis action stands for Prevention, in-crisis actions go for Handling and after-crisis actions relate to Recovery. In each stage, a crisis simulation would help firms by improving their reaction time and capacity, their adaptability and reduce costs of a bad decision. Our results are important because other articles talk about these topics separately and the synergy and efficiency that comes with the use of both topics in parallel is not noticed, so the importance of this research would be to note and explain this synergy and efficiency, and make emphasis in how simple can this be implemented. Advisors/Committee Members: Torres Cepeda, Juan Pablo (advisor).