Naslov
Impact of Global Crisis on Corporate Strategy Implementation

Autori
Cingula, Marijan

Izvornik
Journal of International Scientific Publications : Economy & Business (1314-7242) 3 (2009); 152-163

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, izvorni znanstveni rad, znanstveni

Ključne riječi
environmental crisis; corporate strategy; analysis; change

Sažetak
Although environmental stability is an ideal prerequisite for strategic planning it is almost impossible to find a single corporation that deals with such prerequisites. Thus, it is important to know at which point changes in the environment pass form the state of "regular" turbulences to the crisis. This is important because organization can not stay inactive during the period when change of business parameters is permanent and significant. Continuous monitoring and oversight of appearances coming form the environment, as well as internal factors, can lead to timely detection of critical appearances, and accordingly to the adequate reaction. During crisis disturbance, adequate reaction could mean change in business strategy or implementation of the strategy for perseverance of business continuity. Consequently, it is extremely important to undertake activities for implementation of preservation plans for business continuity after first signs of deviation from normal state of business indicators. Owners and managers have to reevaluate their goals and aspirations and focus on survival of the organization. During reevaluation of business strategy, crucial factors of business success should also be reevaluated, and it should also been evaluated in which way are existing factors endangered by environment crisis. Identifying new key factors for the development or survival of the organization, gain priority in the strategic analysis. Assessment of the environment crisis, as a source of distress, shows that it is the most intensive and comprehensive source of adverse influences directed to all most important organizational values. Therefore, during the crisis, change in business strategy has to accompany as soon as possible.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA