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Business Strategy during Crisis

Author

Listed:
  • Shayb Hezi

    (Bucharest University of Economics, Bucharest, Romania)

  • Muşetescu Radu

    (Bucharest University of Economics, Bucharest, Romania)

Abstract

Drawing from a body of strategic management literature, we explore the approaches proposed by theory and available to business decision makers during crisis. We argue that there is no real theory of success of management during crisis but only broad principles that should be followed. In a certain sense, experience and intuition – what could be called soft skills – are as important as hardcore economics. Moreover, the metrics of measuring crisis and the impact of decisions during such circumstances are to be further explored and divided in a comprehensive taxonomy. Despite its popular use, crisis management is at the start of its development. The authors advance both an approach as well as a tool for supporting decisions during business crisis.

Suggested Citation

  • Shayb Hezi & Muşetescu Radu, 2020. "Business Strategy during Crisis," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 14(1), pages 263-272, July.
    • Handle: RePEc:vrs:poicbe:v:14:y:2020:i:1:p:263-272:n:25
    DOI: 10.2478/picbe-2020-0025
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    References listed on IDEAS

    as
    1. Zhiang Lin & Chun Hui, 1999. "Should Lean Replace Mass Organization Systems? A Comparative Examination from a Management Coordination Perspective," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 30(1), pages 45-79, March.
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