Crisis typology and taxonomy for IT service companies

Abstract

Despite extensive research on crisis management, significant gaps still need to be discovered, particularly in the context of IT service companies. This study addresses two primary deficiencies: the need for industry-specific frameworks and a comprehensive crisis typology and taxonomy. This research aims to develop a detailed crisis typology and taxonomy specific to IT service companies, enhancing their preparedness, response, and recovery capabilities. The study identifies five primary crisis types: financial, operational, reputational, geopolitical, and natural disasters. Each crisis type is defined, with examples and recommendations for effective management. The developed taxonomy uses criteria such as nature, causes, impact, duration, frequency, and manageability to classify crises. Through literature review and case study analysis, the research reveals diverse crises faced by IT service companies and offers practical strategies for crisis management. Theoretical contributions include a sector-specific crisis taxonomy and integration of practical insights, bridging the gap between theory and practice. This research emphasizes proactive risk management and robust systems, contributing to the resilience of IT service companies. Keywords: Crisis Management, IT Service Companies, Crisis Typology, Crisis Taxonomy, Proactive Risk Management, Real-time Data Analytics, Emerging Technologies, Business Continuity.