Abstract:

COVID-19 pandemic is redefining the economic reality. Disruption resulting from the global lockdown led to a reevaluation of business models and business routines. There are two main adaptation strategies that organisations take on to respond to the environmental change. Strategic fit in which a company seeks a match between opportunities and resources and strategic stretch when a company follows their aspiration (strategic intent) despite insufficient resources and/ or opportunities. The gap is closed through innovation and leverage. The main goal of this paper is to examine theory and examples of strategic fit and strategic stretch as a way of adaptation to the pandemic reality. Examples of organisations such as Red Noses International, Decathlon, Ford, Tesla Motors or schools and Universities are used to illustrate strategic stretch. GAP, Zoom, Teams, Uber Eats, Veclaim and PKN Orlen are illustrating strategic fit.