Business in a Turbulent Era: An Overview of Technology, Society, and Policy

The current chapter examines the phenomenon of turbulence, characterized by disruptions arising from technological advancements, digitalization, environmental changes, the climate crisis, pandemics, geopolitical conflicts, and sectoral fluctuations. These forces have profoundly impacted businesses, consumers, and societies, necessitating adaptive strategies to mitigate their effects (Thrassou et al. in Delineating non-profit organizations: Society, sustainability and accountability. Palgrave Macmillan, Cham, 2024, https://doi.org/10.1007/978–3-031–62534-3_1). A systematic literature review identifies the primary sources of turbulence, categorizing them into distinct groups to analyze their multifaceted implications. The discussion highlights the critical need for businesses and governments to achieve seamless digital transformation, integrate short-term objectives with long-term sustainability, and align with the evolving needs of modern consumers. The chapter further explores the influence of these disruptions on operational practices, consumer decision-making processes, and societal advancement. Emphasis is placed on the importance of carefully designed and continually restructured solutions to navigate these challenges effectively over the long term. Theoretical and practical implications are presented, offering a framework for addressing turbulence through informed policymaking and innovative business strategies. The chapter concludes with suggestions for future research directions, aiming to deepen understanding and propose actionable solutions. A brief summary of the subsequent chapters in the book is also provided, offering a roadmap for readers to explore the broader themes discussed.