<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>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.</p>
</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.

Business Strategy during Crisis

Proceedings of the International Conference on Business Excellence

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Business Strategy during Crisis"}

Drawing from a body of strategic management literature, we explore the approaches proposed by theory and available to business decision makers during crisis....

Business Strategy during Crisis

Published Online: Jul 27, 2020

Page range: 263 - 272

DOI: https://doi.org/10.2478/picbe-2020-0025

Keywords
crisis, business, strategy, management, decision

© 2020 Hezi Shayb et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Business Strategy during Crisis

Published Online: Jul 27, 2020

Page range: 263 - 272

DOI: https://doi.org/10.2478/picbe-2020-0025

Keywordscrisis, business, strategy, management, decision

© 2020 Hezi Shayb et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
crisis, business, strategy, management, decision