Crisis resilient strategy: Lessons from the pandemic

Source abstract

Some managers argue that the need for a long-term planning in enterprises is decreasing due to the uncertainty caused by the coronavirus crisis. The analysis of the strategic planning theory does not provide precise recommendations how to counter such a phenomenon. The research is aims at the analysis of existing approaches to the formation of a strategy resistant to long-term risk factors such as a pandemic and taking specific measures to form a sustainable strategy. The format of the strategy has an important role in solving this problem: the formulation of the key indicators of this document. Modern Russian surveys show that modern strategy is a constantly changing document. A strategy format depends on the size of the company. The classical strategic theory is typical of large corporations. However, small companies treat strategy as a vision. The study provides solutions to resilient strategy based on the size of the enterprise such as the transition from a limited strategy to a termless strategy. This document will include a set of strategic decisions on business diversification, cooperation with partners and competitors, etc.