As it is well-known, crisis is quite a multifaceted phenomenon, which is difficult to manage. In order to facilitate the task of crisis management, there are different methods and theories. One of the theories is the life cycle theory. Indeed, if the development of crisis can be foreseen, it can be efficiently managed, i.e. the methods of crisis management can be improved. The phenomenon of life cycle includes several basic stages. Precise description of each stage makes it possible to make decisions appropriate to the situation. In its turn, it allows to plan various actions, which lead to successful recovering from crisis. Unlike the general life cycle, the peculiarity of the one discussed in the paper is its aim to recover from crisis as soon as possible. Therefore, all stages, their description and time frames will be classic ones, but the methodology of decision making and decisions as such will be different. Thus, crisis can be managed not only theoretically, since life cycle theories of different phenomena have been studied and investigated long ago, but practically at an enterprise as well by means of the symbiosis of life cycle theories and methods of crisis management, taking strategic approach as the basic one.