Crisis management involves recognizing potential crises, preparing response plans, and responding quickly and effectively during a crisis to minimize damage. A crisis is defined by elements of threat, surprise and short decision time. Common crisis types include natural disasters, economic downturns, and business or personal issues. Effective crisis management has objectives of reducing tension, demonstrating expertise, controlling information flow, and managing resources well. Key steps include containing the crisis, resolving underlying issues, and learning lessons to apply to future crises.