ABSTRACT
At the top of the enterprise the way in which uncertainty, turbulence and crisis will be dealt with is a central part of company strategy (Johnson and Scholes, 1988). As such, the concept of crisis can be seen as either a deviation from the equilibrium of the generally balanced relationship of the firm to its environment, or, in other circumstances, it may be seen as a defining characteristic of the environment which the firm has to constantly be aware of. With either view, dealing with perception, action or implementation of crisis issues can be best understood from a strategic management perspective. This chapter outlines two views on strategic management which sets a context for how managers may go about the task of analysing the environment and the internal elements of the firm.
