In this paper, i will describe the role and importance of managers in a situation of crisis. The aim is to show the implementation of the basic models and instruments used by management during diagnostic and prognostic analysis of the external and internal company surroundings in terms of business crisis. The empirical part of the paper refers to the study of the role of managers in critical operating conditions on the exampleof ten companies performing operational activities in the Republic of Croatia. Business crisis is unique, unexpected and extraordinary event or a series of them that cause high level of insecurity and threats regarding the realization of the strategic goals of the organization.There are three levels of crisis - a potential crisis, latent crisis and acute crisis. The symptoms of the crisis are visible in the financial field and in the field of achievement effects. Crisis management falls within the domain of management of the company i.e. Crisis management. Responsibility for possible bankruptcy,or credit for the possible exit from the crisis is entirelyon the side of management.