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Planning for Crisis
Strategy and Management Theory and the Impact of Economic Uncertainty

Carol M. Connell

£70.00 | $99.00
ISBN 9781911116059
£70.00 | $99.00
ISBN 9781911116066
320 pages | 234 x 156mm | December 2018


The seven decades since the Second World War have been characterised by a series of international economic crises, indeed we remain in the grip of its most recent. They impact on all parts of the economy – balance of payments, inflation, employment, productivity – and on all areas of economic activity, directly affecting business behaviour. Since most economic crises are unexpected, how do individual organizations plan for them?

Through an in-depth analysis of the professional literature, Carol Connell investigates how theorists have used the economic recessions that defined their time to inform strategies for institutional management and growth in times of crisis. She shows that the postwar period saw an ever-growing body of research and theory from economics, the behavioural and social sciences, finance and business management, devoted to avoiding or limiting the effects, at the organizational level, of such economic downturns. Those theorists who applied frameworks for verifying change, assessing risks, or applying game theory, she shows, had the most to offer organizations, but those who played a public policy role also made a significant contribution to living with economic uncertainty.

The period under study includes the financial crisis of the 1960s and early 1970s, the stagflation crisis of the mid-1970s and mid-1980s and the financial crisis of 2008/9, and offers comprehensive coverage of the theories and ideas that had a major influence on the way organizations have sought to deal with economic crises. It will be of interest to business economists and economic historians as well as students of management, organization theory and firm behaviour.


1. Introduction
2. Research Questions and Methodology
3. Issue Clusters, 1945–2015
4. The Big Picture, 1945–2015: Trends in a Multi-Stakeholder World
5. Leading Firm Theories and Crisis
6. Post-World War and its Theorists, 1945–59
7. Monetary Crisis and its Theorists, 1959–73
8. Stagflation and its Theorists, 1973–85
9. Urban Crisis, Inequality and its Theorists, 1945–2015
10. Productivity and Technology and their Theorists, 1973–2015
11. Financial Crisis and its Theorists, 1990–2015
12. How Organizations Respond to Crisis, 1945–2015
13. Modelling Crisis, 1945–2015
14. A Grand Unifying Theory
15. Implications for Strategy and Management

Author Information

Carol M. Connell is Professor of Finance and Business Management at the City University of New York, Brooklyn College. Her previous books include Reforming the World Monetary System (2012) and editor of the multi-volume primary source collection, Monetary Reform and the Bellagio Group: Selected Letters and Papers of Fritz Machlup, Robert Triffin and William Fellner (2014).

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