Abstract
M.A.
This study determines the role of crisis management in the dormant account
crisis that faced three Swiss banks from 1995 until 2000.
This research topic involving the Swiss banks was selected for numerous
reasons. Firstly, there was an immense amount of media interest from around
the world. Secondly, the geographical area that the crisis was focused in-the
western world- is arguably the world's financial powerhouse. Thirdly, the issues
surrounding the crisis itself were highly emotive and had its roots in the period
shortly before World War Two. Fourthly, on closer investigation very little
research had been done on Western corporate financial crises and most
importantly, no research had been done on the way the Swiss banks managed
their crisis. All of these issues combined provided a very interesting platform on
which to begin researching the value of effective crisis management, from a
strategic standpoint, for a western corporate financial company.To facilitate an effective and objective analysis of the case study, an extensive
literature study had to be undertaken. The origins of public relations had to be
researched to understand how the profession had developed. In addition, crisis
management also had to be studied to understand how this discipline of public
relations works. From there, the role of public relations had to be studied to
comprehend exactly what should have been done, in terms of how crisis
management is an element of public relations, for the Swiss banks before the
crisis began.Following on from this it was established, from the literature study,
that planning for a crisis is one of the foundations of crisis management.AThe
most important aspects of and contributors to crisis planning were then
considered. It was also established that crises have different stages that they
pass through. This was then investigated as well as the relevant aspects needed
to manage each stage.
An important aspect encountered in each crisis is the media. The different parts
of media training were studied. followed by arguably one of the most difficult
aspects of crisis management- managing the media.