Strategic Management in Times of Economic Uncertainty

Abstract

In times of economic uncertainty, strategic management becomes a crucial determinant of organizational survival and success. This paper explores the nuances of strategic management in fluctuating economic environments, emphasizing adaptive strategies, risk management, and innovation. By examining various case studies and theoretical frameworks, the study identifies key strategies that organizations can implement to navigate economic turbulence effectively. It also discusses the role of leadership, organizational resilience, and strategic flexibility in shaping a company's response to economic instability. The findings underscore the importance of proactive planning and strategic agility in maintaining competitive advantage during uncertain times.