TY - CHAP
T1 - Profiling Business in Uncertainty
T2 - Evolution, Transformation, and Adaptation Across Disciplines and Typologies
AU - Vrontis, Demetris
AU - Thrassou, Alkis
AU - Bozat, Meliz
AU - Efthymiou, Leonidas
N1 - Publisher Copyright:
© The Author(s), under exclusive license to Springer Nature Switzerland AG 2024.
PY - 2024
Y1 - 2024
N2 - The dynamic nature of existing business environments necessitates organisations to cope with and manage various forms of uncertainty, deriving from factors such as technological advancements, global events, and market shifts. Environmental uncertainty, incorporating political, economic, and technological dimensions, presents challenges and opportunities for organisations, requiring strategic adaptation and resilience. Recent global crises, including the COVID-19 pandemic, the war in Ukraine, climate change, and geopolitical conflicts, have intensified the level of uncertainty, leading to the emergence of the term ‘permacrisis’ to describe ongoing and interconnected crises. Managing uncertainty involves strategic approaches such as risk management and strategic management, with a focus on identifying, evaluating, and responding to uncertainties effectively. Strategic management concepts like the Resource-Based View (RBV) and Organisational Agility (OA) provide frameworks for organisations to leverage their internal strengths and adapt to external changes. Additionally, embracing the VUCA (Volatile, Uncertain, Complex, and Ambiguous) concept in the context of Industry 4.0 highlights the importance of agility, innovation, and leadership in navigating turbulent environments. Within this context, the current chapter delineates how strategic management concepts offer valuable tools for organisations to enhance their adaptability, innovation, and resilience in uncertain times.
AB - The dynamic nature of existing business environments necessitates organisations to cope with and manage various forms of uncertainty, deriving from factors such as technological advancements, global events, and market shifts. Environmental uncertainty, incorporating political, economic, and technological dimensions, presents challenges and opportunities for organisations, requiring strategic adaptation and resilience. Recent global crises, including the COVID-19 pandemic, the war in Ukraine, climate change, and geopolitical conflicts, have intensified the level of uncertainty, leading to the emergence of the term ‘permacrisis’ to describe ongoing and interconnected crises. Managing uncertainty involves strategic approaches such as risk management and strategic management, with a focus on identifying, evaluating, and responding to uncertainties effectively. Strategic management concepts like the Resource-Based View (RBV) and Organisational Agility (OA) provide frameworks for organisations to leverage their internal strengths and adapt to external changes. Additionally, embracing the VUCA (Volatile, Uncertain, Complex, and Ambiguous) concept in the context of Industry 4.0 highlights the importance of agility, innovation, and leadership in navigating turbulent environments. Within this context, the current chapter delineates how strategic management concepts offer valuable tools for organisations to enhance their adaptability, innovation, and resilience in uncertain times.
UR - http://www.scopus.com/inward/record.url?scp=85205268291&partnerID=8YFLogxK
U2 - 10.1007/978-3-031-65587-6_1
DO - 10.1007/978-3-031-65587-6_1
M3 - Chapter
AN - SCOPUS:85205268291
T3 - Palgrave Studies of Cross-Disciplinary Business Research, in Association with EuroMed Academy of Business
SP - 1
EP - 22
BT - Palgrave Studies of Cross-Disciplinary Business Research, in Association with EuroMed Academy of Business
PB - Palgrave Macmillan
ER -