The oil industry is historically burdened by different turbulences and tremors having the significant impact on the market. In order to anticipate unforeseen and potentially harmful situations, some firms as a part of their long-term strategic plans pay attention to scenario-based planning,...

The role of strategic management is to handle the day-to-day needs of the firms with respect to current events of fluctuating markets so that they can effectively reach to their pre-planned, long-term goals. This study aims to explain the steps taken to design a new conceptual framework in the...