Emergence plan is a type of reorganization plan after the company declared bankruptcy. If the company wants to exit bankruptcy status it should prepare emergence plan which will restore financial liquidity, remove problems and open it to new opportunities. Such a plan is accepted by bankruptcy court.
Emergence plan in strategic planning
Emergence plan has also wider meaning in strategic planning. In strategic planning term emergence is related to opportunities that emerge in company environment. But to utilize opportunities the company has to be prepared, it has to create the conditions that will enable using them. The emergence plan describes what conditions, when, why and how should be created in order to utilize potential opportunities in the company.
- Mintzberg, H. (1994). The fall and rise of strategic planning. Harvard business review, 72(1), 107-114.
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