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    Students relax at Billy Pat's, the bar and lounge in the student center at William Paterson University

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    Students relax at Billy Pat's, the bar and lounge in the student center at William Paterson University. Undated. Date range is approximate

    Learning the hard way vs. vicarious learning: Post crisis learning for small business

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    Crisis management is a critical responsibility for all organizations. Regardless of the size of the organization, it is essential to address three general phases - pre-crisis planning, management and recovery during and immediately after the crisis and learning and adjustment recovery after the crisis. Entrepreneurial concerns and small businesses, however, differ from larger, more established businesses in the mechanisms for avoidance and/or reacting to crises, specific types of crises they may face and the disproportionate effect crises has on them, and the ways in which they learn and adjust after a crisis. This paper explores the critical phase of learning from crisis through a small business/ entrepreneurial lens. The authors propose a five step process to recover from crisis and prepare for the future that emphasizes learning not only from your own experience and the external environment, but from other businesses that faced challenges during the crisis.Version of Record (VoR

    Hillside Hall, a residence hall at William Paterson University

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    Hillside Hall, a residence hall at William Paterson University. Photograph is undated

    Students relax in the gallery lounge at the William Paterson College student center

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    Students relaxing in the gallery lounge at the William Paterson College student center. Photograph is undated

    Board of Trustees Minutes 09/19/2014

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    Hobart Manor in 1920 after four years of renovation

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    William Paterson University's Hobart Manor after four years of renovation begun in 1915 by Garret Hobart Jr. Photograph is undated. Date range is approximate

    Wayne Hall at Paterson State College during the 1960s

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    Wayne Hall at Paterson State College during the 1960s. The 1941 New Jersey State Normal School basketball team

    Dr. Robert H. Morrison, principal of the New Jersey State Normal School at Paterson from 1935-1937

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    Dr. Robert H. Morrison, principal of the New Jersey State Normal School at Paterson from 1935-1937. Photo undated. Date is approximate

    Paterson School No. 6

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    Prof. Gurdial Sharma instructs a student using a mass spectrometer at William Paterson University

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    Prof. Gurdial Sharma (right) instructs a student using a mass spectrometer at William Paterson University. Undated. Date range is approximate

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