The main problem of crisis management nowadays is ambiguous interpretation of its principles. Exact wording and definition of the principles will help to avoid a lot of problems, which to a considerable degree hinder long-term business development. Many scientists consider that crisis management and crisis prevention are similar notions, which have the same meaning. The main drawback of crisis prevention is a limited range of application, as well as the lack of operational efficiency. However, if a company wants to change something and overcome a crisis in a short time, another kind of management – crisis management – is required. Crisis management is extended management aimed at overcoming crises, which can be extended using new principles. Principles of crisis management are mainly based on such notion as time. They are more significant and if a company uses them, it has more chances to overcome a crisis. So, in order to achieve success in business, it is necessary to use opportunities provided by crisis management to the full extent. Management in the conditions of crisis is a separate part of management, which has to be studied by stating regularities on the basis of particular principles. Principles of crisis management describe the kind of management, which really can help a company to move to a new stage of development.