Covid-19 shock: Development of strategic management framework for global energy

Energy resources are vital for the economic development of any nation, and they are currently recognised as an essential commodity for human beings. Many countries are facing various levels up to severe energy crisis due to limited natural resources, coupled with the Covid-19 pandemic. This crisis can lead to the shutdown or restriction of many industrial units, limited energy access, exacerbating unemployment, simultaneous impacts on people's lives. The main reason for these problems is the increasing gap between energy supply and demand, logistics, financial issues, as well as ineffective strategic planning issues. Different countries have different visions, missions, and strategies for energy management. Integrated strategic management is requisite for managing global energy. This study aims to develop a strategic management framework that can be used as a methodology for policymakers to analyse, plan, implement, and evaluate the energy strategy globally. A conceptual research method that relies on examining the related literature is applied to develop the framework. The present study yielded two main observations: 1) The identification of key concepts to consider in designing the strategic management framework for global energy, and 2) A strategic management framework that integrates the scope, process, important components, and steps to manage global energy strategies. This framework would contribute to providing a standard procedure to manage energy strategies for policymakers at the global, regional, national, state, city, district, and sector levels.

Automated summary

Energy resources are essential for economic development, but many countries are currently facing energy crises due to various factors. In order to tackle these issues effectively, integrated strategic management on a global scale is necessary.