Crisis management and corporate resilience of multinational oil and gas companies in Rivers State: A theoretical perspective

ABSTRACT: This study theoretically reviewed the linkage between crisis management and corporate resilience of multinational oil and gas companies operating in Rivers State. In a bid to understand the meaning of the study variables and their relationship, extant literature exploration was carried out and consequently discovered that crisis is an inescapable phenomenon that threatens an organization’s survival if not handled with utmost sense of urgency. We also found that crisis can be induced by natural forces as well as human action. Therefore, we concluded that to survive and bounce back to normalcy in the face of crisis, organization must be resilience-driven in their behavior. Also, that extent to which they overcome this situation is dependent on how
proactive and reactive they are in ameliorating its damaging consequences. Based on this, we recommended that Multinational oil and gas companies no matter how stable and rosy their environment are at any given time, they should not be carried away rather they should remain forward looking by putting appropriate mechanisms
such as proactive and reactive measures in place to combat crisis whenever it strikes.
KEY WORDS: Crisis, management, survival, resilience, oil and gas companies, Rivers State