An evaluation of crisis management effectiveness on market recovery: Evidence from a financial institution in Port Harcourt.
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Background of the study
Crisis management is critical for the swift recovery of market stability, especially for financial institutions that operate under high scrutiny. This study evaluates how a financial institution in Port Harcourt employs crisis management strategies—such as timely public disclosures, coordinated media responses, and stakeholder engagement—to facilitate market recovery following a crisis (Adeyemi, 2023). Effective crisis management minimizes reputational damage and restores investor and consumer confidence, which are crucial for stabilizing market performance. The research investigates the methods used to communicate during crises and assesses their impact on recovery metrics such as stock price stabilization, customer retention, and market share rebound. By analyzing case studies, media reports, and performance data, the study aims to provide a comprehensive evaluation of crisis management effectiveness. The findings are expected to offer strategic recommendations for enhancing crisis response frameworks, ultimately contributing to faster market recovery and improved financial resilience (Chinwe, 2024).
Statement of the problem
Financial institutions in Port Harcourt often struggle to achieve timely market recovery after crises due to ineffective crisis management communication. Delays in disseminating accurate information and inconsistent messaging exacerbate market volatility, undermining stakeholder confidence (Obi, 2024). This study seeks to identify the shortcomings in current crisis management practices and evaluate how improvements in communication can expedite market recovery. Addressing these issues is essential for mitigating financial losses and restoring a stable market environment. The research aims to develop a framework for more effective crisis management that aligns communication efforts with market recovery objectives.
Objectives of the study:
To evaluate the impact of crisis management on market recovery.
To identify key elements of effective crisis communication.
To recommend strategies for enhancing crisis management effectiveness.
Research questions:
How does crisis management influence market recovery?
What are the critical components of successful crisis communication?
How can financial institutions improve their crisis management practices?
Significance of the study
This study is significant as it provides valuable insights into the role of effective crisis management in expediting market recovery for financial institutions. The findings will guide financial organizations in developing robust communication strategies that mitigate crisis impacts and restore stakeholder confidence. The research contributes to the academic literature on crisis management and offers practical recommendations for enhancing market stability during turbulent times (Adeyemi, 2023).
Scope and limitations of the study:
The study is limited to a single financial institution in Port Harcourt and focuses exclusively on crisis management and market recovery. It does not address other aspects of financial performance.
Definitions of terms:
Crisis Management Effectiveness: The degree to which crisis strategies restore stability and confidence (Ike, 2023).
Market Recovery: The process of regaining market stability and performance after a crisis (Emeka, 2023).
Financial Institution: An organization offering financial services, such as banking and investments (Oluwaseun, 2023).
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