TY - CHAP
T1 - Business in a Turbulent Era
T2 - Organisations, Industries and Markets
AU - Vrontis, Demetris
AU - Thrassou, Alkis
AU - Efthymiou, Leonidas
AU - Bozat, Meliz
N1 - Publisher Copyright:
© The Author(s), under exclusive license to Springer Nature Switzerland AG 2025.
PY - 2025
Y1 - 2025
N2 - This chapter investigates business turbulence, focusing on its causes, implications, and strategies for organisational adaptation. Turbulence, characterised by unpredictable external changes, arises from factors such as geopolitical tensions, technological advancements, and evolving consumer demands. The chapter aims to evaluate and synthesise theoretical and empirical contributions on resilience, agility, resource-based perspectives, and digitalisation. Grounded in dynamic capabilities and the Resource-Based View (RBV), it emphasises how organisations can navigate VUCA (volatility, uncertainty, complexity, and ambiguity) conditions to achieve sustainable competitive advantage. The theoretical foundation integrates dynamic capabilities and RBV, positioning agility, innovation, and resilience as critical drivers for thriving in turbulent environments. Methodologically, the chapter employs a critical literature review, synthesising peer-reviewed studies from 2020 to 2024. The review is structured around four themes: the nature of business turbulence, dynamic capabilities, the impact of Industry 4.0, and strategies for addressing VUCA challenges. Studies were precisely selected for their analytical depth and contextual relevance. Findings highlight the multidimensional nature of turbulence, encompassing market, technological, and competitive disruptions that demand proactive adaptation. Digital transformation and Industry 4.0 are identified as pivotal enablers, enhancing responsiveness and efficiency. Practical recommendations include embracing digital tools, fostering resilience, and adopting agile strategies. This approach identifies research gaps and provides strategic insights for navigating complex business environments.
AB - This chapter investigates business turbulence, focusing on its causes, implications, and strategies for organisational adaptation. Turbulence, characterised by unpredictable external changes, arises from factors such as geopolitical tensions, technological advancements, and evolving consumer demands. The chapter aims to evaluate and synthesise theoretical and empirical contributions on resilience, agility, resource-based perspectives, and digitalisation. Grounded in dynamic capabilities and the Resource-Based View (RBV), it emphasises how organisations can navigate VUCA (volatility, uncertainty, complexity, and ambiguity) conditions to achieve sustainable competitive advantage. The theoretical foundation integrates dynamic capabilities and RBV, positioning agility, innovation, and resilience as critical drivers for thriving in turbulent environments. Methodologically, the chapter employs a critical literature review, synthesising peer-reviewed studies from 2020 to 2024. The review is structured around four themes: the nature of business turbulence, dynamic capabilities, the impact of Industry 4.0, and strategies for addressing VUCA challenges. Studies were precisely selected for their analytical depth and contextual relevance. Findings highlight the multidimensional nature of turbulence, encompassing market, technological, and competitive disruptions that demand proactive adaptation. Digital transformation and Industry 4.0 are identified as pivotal enablers, enhancing responsiveness and efficiency. Practical recommendations include embracing digital tools, fostering resilience, and adopting agile strategies. This approach identifies research gaps and provides strategic insights for navigating complex business environments.
UR - https://www.scopus.com/pages/publications/105012135810
U2 - 10.1007/978-3-031-89798-6_1
DO - 10.1007/978-3-031-89798-6_1
M3 - Chapter
AN - SCOPUS:105012135810
T3 - Palgrave Studies in Cross-Disciplinary Business Research, In Association with EuroMed Academy of Business
SP - 1
EP - 23
BT - Palgrave Studies in Cross-Disciplinary Business Research, In Association with EuroMed Academy of Business
PB - Palgrave Macmillan
ER -