Developing a Crisis Management Index: Applications in South Korea

Abstract

The purpose of this study is to develop a crisis management index that can gauge a corporation's integrated crisis management capabilities. Although most crisis management models have been devised in Western countries, no full-scale crisis management index has been developed outside the Western hemisphere. This study deploys multiple research stages that reflect the characteristics of crisis management. First, the study validates index items through an extensive literature review, in-depth interviews, and professional audits. The dimensions of the index items are evaluated through an exploratory factor analysis and verified with construct validity through a confirmatory factor analysis. The final index dimensions-the organizational strategy, the organization system and culture, and the execution and communication-were applied to the case of South Korean corporations, and the implications based on their index scores are discussed.