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Strategic management of companies' adaptive behavior

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  • You Yin

Abstract

The modern stage of economic growth is accompanied by sophisticated, multifaceted, and diverse processes, including globalization, the evolution of a new technological paradigm, the growing scarcity of available resources, and changing consumer demands and preferences. In this context, the ability of businesses to quickly and adequately adapt to changes, induced by the external environment, is crucial to their long‐term success. Awareness of these circumstances has led to increased research interest to the issues of managing the adaptability of businesses. The paper quantifies the major dependencies and controversies between the adaptability assessment methods and strategic development of entrepreneurship. The research findings provide an understanding of the overall trend of adaptability management and its impact on the business performance and management strategies that can be used to increase resistance to the extrinsic factors. The main methods of analysis include matrix‐based approaches to selecting the best strategic decisions. A methodical approach was proposed for a reasoned choice of retailers' strategic adaptation areas, which makes it possible to determine the optimal type of adaptation strategy and opens opportunities for determining the company's strategic pathway in its adaptation context. This paper addresses the current market‐driven settings of economic management and the issues of managing the retailers' adaptability in China, as well as the need to change the methods of their strategic management in order to develop a strong competitive position in today's fast‐paced environment and promote economic growth. The research findings can be applied in various types of businesses, regardless of the scale thereof.

Suggested Citation

  • You Yin, 2023. "Strategic management of companies' adaptive behavior," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(2), pages 1029-1039, March.
    • Handle: RePEc:wly:mgtdec:v:44:y:2023:i:2:p:1029-1039
    DOI: 10.1002/mde.3729
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    References listed on IDEAS

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    1. Yoshimasa Masuda & Alfred Zimmermann & Matt Bass & Osamu Nakamura & Seiko Shirasaka & Shuichiro Yamamoto, 2021. "Adaptive Enterprise Architecture Process for Global Companies in a Digital IT Era," International Journal of Enterprise Information Systems (IJEIS), IGI Global, vol. 17(2), pages 21-43, April.
    2. Christoph Keding, 2021. "Understanding the interplay of artificial intelligence and strategic management: four decades of research in review," Management Review Quarterly, Springer, vol. 71(1), pages 91-134, February.
    3. Haiyang Su & Miragha Ahmadov & Daria Tkachenko & Svetlana Danshina, 2022. "Hedonic adaptation and conscious consumption in the civil engineering market: corporate reputation and user behavior strategies for sustainable development [Determinants of the turnover intention o," International Journal of Low-Carbon Technologies, Oxford University Press, vol. 17, pages 23-32.
    4. Ilan Alon & John Anderson & Ziaul Haque Munim & Alice Ho, 2018. "A review of the internationalization of Chinese enterprises," Asia Pacific Journal of Management, Springer, vol. 35(3), pages 573-605, September.
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