Preliminary Consideration on Corporate Management and MCSs during the Covid-19 Pandemic: Considering A Relationship between Crisis Management and Risk Management

Abstract

Although two years has already passed, the Covid-19 pandemic still has continued to have a great impact on many organisatoins. Under such crisis, firms need to gradually shift their focus from crisis management in response to in sudden pandemic to risk management that enable them prepare and control in advance of the next wave of pandemic situations. At the same time, firms must respond the new environment so called the “new normal” through strategic decision under the uncertainty. Thus, corporate strategy during the Covid-19 requires firms to maintain organizational stability against in-sudden crisis as well as to support organization through enhancement of creative activities and flexibility for the potential value creation. In this way, firms are required to respond on the different pressures which we call the dynamic tensions through use of various types of control levers and development of dynamic capabilities.