Academic journal article Academy of Strategic Management Journal

Impact of Strategic Planning on Crisis Management in the Profit and Non-Profit Sector in Jordan

Academic journal article Academy of Strategic Management Journal

Impact of Strategic Planning on Crisis Management in the Profit and Non-Profit Sector in Jordan

Article excerpt

Introduction

In the highly competitive environments of the modern world, the practice of commerce has been subject to more challenging and complex pressures. Therefore, any type of work of any extent that is not handled in a strategic manner will be severely weakened (Ocloo, et al., 2014; Nickols, 2016). Moreover, firms must locally practice suitable techniques in order to adopt a more dynamic profile (Ocloo et al., 2014). As well, the aim of devising strategies is to overcome competition and make useful distinctions within markets (Papulova & Papulova, 2006; Madu, 2013).

As a result, strategic management involves retaining the idea of achieving corporate objectives and purposes while viewing the growth of a firm in terms of the corporate resources used (Madu, 2013). Given the internal significance of strategic management to the typical firm, several researchers have demonstrated that most corporate objectives need to be handled deliberately in order to fulfill their purposes in the end (Nickols, 2016).

Consequently, the idea of strategy-focused management was conceived in terms that reflect more of the societal controls approach of the discipline (Fitzroy et al., 2012). Strategic Management (SM) as fully described by various researchers (e.g., Johnson et al., 2013; Ridwan, 2015) comprises three primary elements: strategic formulation, application, and analyses . In addition, the key practice of the SM technique comprises Strategic Planning (SP), which establishes grounds for opposing steps, including: strategic formulation, application, and analyses (Julian, 2013). As a result, SP is critical to firms for its ability to make contributions to enduring success and influences on the advance of SM (Elbanna, 2016).

Specifically, the practice can reveal newer prospects for a company as it enables defensive measures against all crises that may burden it externally or internally (Bryson, 2011). Moreover, reports (Vargo & Seville, 2011) have directed the establishment of an Associate in Nursing license that recognizes the significance of SP as a means for marshaling organizational strength to manage crisis and risks that would otherwise degrade the company and undermine its position.

Organizations are confronting changing difficulties at various times in this new millennium. Consequently, the world is becoming smaller in operational extent due to progress in information and communications technologies and other modern advances. The fractious cultural movements that induce successive crisis are confronted by organizations that risk their property, and therefore their on-going prospects. These have lately presented themselves in a variety of failures that range from financial failure, epidemics, and other natural calamities; violent actions among staffs and from terrorist factions as well. The private sector is confronting change as varied organizations experienced transitions, as a result of strong competition and compelling technological advances that arise during periods of socio-economic and political progress. Firms do not manage these factors by themselves but will respond to changes if they are required to strategically devise schemes. It is now vital to regard potential adverse conditions right from the planning and therefore the preparations required to manage them (Hasan et al., 2017).

To be clear, the management of a crisis must still be subject to good (Coombs, 2014) planning for appropriate responses. This will help company workers to improve their skills and allow the firm to survive as well as prosper (Vargo & Metropolis, 2011; Pal et al., 2014). Therefore, Vargo & Metropolis (2011) stated that Crisis Management (CM) emphasizes the handling of threat factors. Although SP also pursues the discovery of opportune prospects, the use of SP during periods of crises can be of considerable profit to the company by affording it the ability to work and compete as well as own strength in dealing with risks (Pal et al. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.