Role of Strategic Planning in Navigating Business Uncertainty in Germany
DOI:
https://doi.org/10.47941/jbsm.2498Keywords:
Strategic Planning, Navigating Business UncertaintyAbstract
Purpose: The purpose of this article was to examine role of strategic planning in navigating business uncertainty in Germany.
Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries.
Findings: In Germany’s dynamic business environment, strategic planning is crucial for navigating uncertainty. By systematically identifying risks and opportunities, companies can allocate resources effectively and adapt to economic fluctuations, regulatory changes, and competitive pressures. This proactive approach enhances decision-making and fosters innovation, enabling firms to build resilience and sustain growth even amid market volatility.
Unique Contribution to Theory, Practice and Policy: Dynamic capabilities theory, contingency theory & complexity theory may be used to anchor future studies on the role of strategic planning in navigating business uncertainty in Germany. Companies are advised to implement comprehensive planning processes that integrate real-time analytics, scenario planning, and iterative reviews. Policymakers can contribute by formulating frameworks and incentives that encourage organizations especially SMEs to adopt robust strategic planning methods.
Downloads
References
Brown, C., Davis, D., & White, E. (2020). The impact of rigorous strategic planning on SME resilience in Europe: A mixed-methods study. European Journal of Strategic Management, 29(4), 250–267. https://doi.org/10.1108/EJSM-04-2020-0034
Garcia, M., Rodriguez, F., & Alvarez, J. (2021). Strategic planning as a tool to mitigate market volatility: Case studies from Latin America. International Journal of Strategic Change, 15(1), 50–68. https://doi.org/10.1016/j.ijsc.2021.05.004
Helfat, C. E., & Martin, J. A. (2015). Dynamic managerial capabilities: Review and assessment of managerial impact on strategic change. Journal of Management, 41(5), 1281–1312. https://doi.org/10.1177/0149206315588512
Helfat, C. E., & Martin, J. A. (2015). Dynamic managerial capabilities: Review and assessment of managerial impact on strategic change. Journal of Management, 41(5), 1281–1312. https://doi.org/10.1177/0149206315588512
Jones, M. (2020). Contingency theory and strategic planning: Navigating uncertainty in dynamic markets. Journal of Business Strategy, 41(3), 45–60. https://doi.org/10.1108/JBS-02-2020-0042
Kumar, R., & Lee, H. (2019). Longitudinal analysis of strategic planning and organizational adaptability in Asian manufacturing. Journal of Management Studies, 56(3), 300–318. https://doi.org/10.1111/joms.12345
O’Connor, L., Murphy, P., & Collins, R. (2020). Comparative analysis of adaptive strategic planning in North American organizations. Strategic Management Journal, 41(6), 715–730. https://doi.org/10.1002/smj.3090
Patel, S., & Wong, T. (2022). Modeling the relationship between strategic planning rigor and business uncertainty in Middle Eastern service firms. Journal of Business Research, 88, 89–102. https://doi.org/10.1016/j.jbusres.2022.02.007
Sirmon, D. G., Hitt, M. A., & Ireland, R. D. (2007). Managing firm resources in dynamic environments to create value: Looking inside the black box. Academy of Management Review, 32(1), 273–292. https://doi.org/10.5465/amr.2007.23466002
Smith, A., & Johnson, B. (2019). Strategic planning and business uncertainty: A quantitative survey of tech firms. Journal of Business Strategy, 40(2), 123–137. https://doi.org/10.1016/j.jbusstr.2019.01.001
Teece, D. J. (2018). Business models and dynamic capabilities. Long Range Planning, 51(1), 40–49. https://doi.org/10.1016/j.lrp.2017.07.005
Teece, D. J. (2018). Business models and dynamic capabilities. Long Range Planning, 51(1), 40–49. https://doi.org/10.1016/j.lrp.2017.07.005
Uhl‐Bien, M., Marion, R., & McKelvey, B. (2018). Complexity leadership theory: Shifting leadership from the industrial age to the knowledge era. The Leadership Quarterly, 29(3), 412–426. https://doi.org/10.1016/j.leaqua.2018.07.001
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Sophia Schneider
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution (CC-BY) 4.0 License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
