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Viable strategies in volatile times

Author

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  • I. Tichá

    (Faculty of Business and Economics, Czech University of Life Sciences, Prague, Czech Republic)

Abstract

The article aims at the description and assessment of strategic options for companies which have necessary resources to take the advantage of the current economic downturn. The theoretical framework is based on two predominant approaches to competitive advantage and the practical implications for actions to be adopted are derived from the recommendations published recently by the leading consulting firms. While quick fixes ensuring a short-term survival (mostly financially based cost-saving measures) are an essential first step, a longer-term success lies in the effective adoption of the scenario-planning techniques, active competitors intelligence and a proactive attitude to restructuring through a combination of mergers, acquisitions and divestment decisions.

Suggested Citation

  • I. Tichá, 2009. "Viable strategies in volatile times," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 55(5), pages 229-232.
    • Handle: RePEc:caa:jnlage:v:55:y:2009:i:5:id:29-2009-agricecon
    DOI: 10.17221/29/2009-AGRICECON
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    References listed on IDEAS

    as
    1. I. Tichá & J. Hron, 2006. "Knowledge in the business strategy context," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 52(1), pages 7-11.
    2. Ingemar Dierickx & Karel Cool, 1989. "Asset Stock Accumulation and Sustainability of Competitive Advantage," Management Science, INFORMS, vol. 35(12), pages 1504-1511, December.
    3. Ingemar Dierickx & Karel Cool, 1989. "Asset Stock Accumulation and the Sustainability of Competitive Advantage: Reply," Management Science, INFORMS, vol. 35(12), pages 1514-1514, December.
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