Uncertainty and dramatic changes within the external environment

During times of uncertainty and dramatic changes within the external environment, organisations respond to such times and changes by adopting different strategic choices and strategies.

Using a very recent paper written by Wenzel et al. (2020) and published in the prestigious Strategic Management Journal on the topic of strategic responses to crisis (https://onlinelibrary.wiley.com/doi/epdf/10.1002/smj.3161), critically undertake the following tasks.

  1. Provide an introduction explaining the aim of your essay and its structure
  2. Using the knowledge you acquired from this module and additional readings from relevant literature, critically discuss how strategic decisions/strategies are made/created in time of crisis
  3. Using the article referred to above, critically differentiate and compare the four strategic choices/decisions identified by the authors
  4. Provide a suitable conclusion explaining the outcomes of your analysis and a key statement recommending companies on how to choose the most appropriate strategic action.