GLOBAL ECONOMIC CRISIS AND ADAPTIVE BEHAVIOUR STRATEGY OF LARGE SCALE ORGANIZATIONS: A CONCEPTUAL ANALYSIS

Abstract

This paper is a Narrative Review of big companies that continued to thrive during notable global economic recessions. The aim is to determine their Business Continuity Management (BCM), survival strategies, for other corporate organizations in the world to emulate, against potential financial crisis, pandemics, economic depressions, and recessions. A narrative review of 13 big firms from different parts of the world that applied BCM was done. The companies were purposively selected: 4 from the United States of America, 3 from Europe, 3 from Africa and 3 from Asia, to identify how they dealt with various global crises, which included the 2008 financial crisis, the 2020 COVID-19 pandemic and economic crisis, the Asian Financial crisis, and the European Financial crisis. Secondary data analysis was employed in the study. The data for the analysis were all gathered from companies’ annual reports, journal articles, newspaper reports, government and international organizations’ reports. The findings reveal that by using the BCM model and business success strategies, companies can weather the storms of disasters, economic crises, and meltdowns and turn such into viable business opportunities for growth and enhanced corporate performance.