Defining a Strategy of Coal Enterprises in Crisis Situation

Abstract

Since 2014 Polish coal enterprises, particularly mines, have been struggling with a crisis caused by, among other things, the decrease of coal prices, its overcapacity on both global and domestic markets, competition from the coal importers or high coal production costs. In this situation, in order to survive, the coal enterprises must formulate new strategies appropriate for the development potential of their mines, including possible ways of overcoming the crisis, as well as their recovery and economically effective functioning in the future. This article includes the results of research in this field. First of all, it presents the essence of the strategy formulation process in an enterprise in a crisis situation, emphasizing the importance of strategy-related choices and the implementation programme. It was the background set for the strategy formulation stages of a coal enterprise in a crisis situation, and next the cognitive gap covering five research issues, concerning the following: the identification of internal and external factors which determine the possibility of development of the Polish mines and drawing a schedule of their changes in the future, determining possible strategic options and corresponding schedules, appropriate for the specific nature of the mines, modelling a decisive problem concerning the choice of strategy, adequately to the development potential of the mines and modelling a decisive problem concerning the choice of actions for the implementation of the strategy, adequately to the assessment of the results of actions for the stakeholders.

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About this article

Publication Date

18 December 2019

eBook ISBN

978-1-80296-948-1

Publisher

Future Academy

Volume

1

Print ISBN (optional)

-

Edition Number

1st Edition

Pages

1-161

Subjects

Business, management, behavioural management, macroeconomics, behavioural science, behavioural sales, behavioural marketing

Cite this article as:

Jolanta, B., & Krzysztof*, W. (2019). Defining a Strategy of Coal Enterprises in Crisis Situation. In Z. Bekirogullari, M. Y. Minas, & R. X. Thambusamy (Eds.), Business & Economics - BE-ci 2017, vol 1. European Proceedings of Multidisciplinary Sciences (pp. 91-105). Future Academy. https://doi.org/10.15405/epms.2017.06.10