Strategy and Sustainable Business Development: Dynamic Hazard or Dynamic Mania? Lessons Learned from a Crisis

Abstract

Turbulent times bring about not only new technologies but also well-skilled people without even minimum business knowledge, who use only their specialized potential in business practice. How can one utilize the fundamental planning pillars within businesses when the behavior itself is not predicable? What interactions support the dynamics and adaptability of the business in a positive way? Can different types of stakeholders (or other factors such as the business age or interconnections) shed light on developing a better understanding of strategy making in different areas of business? The proposed model incorporates dynamic behavior and shows how manipulating certain items can alter outcomes in the strategic system in a predicable way. As a contribution to the literature, the paper will highlight who has the biggest influence on the flexibility of business and which items are the most important for strategy making in an uncertain and turbulent environment. The main goal of this paper is, based on the literature review, to provide a practical model of adaptation. In this context, the study begins by a literature review of strategy evaluation and possible measurement of success. Research methodology, analyses results and the research model will be dealt with in the second section. The results of the analyses will be discussed and a recommendation will be provided in the last section. Finally, the model of dynamic entrepreneurship is presented with a combination of final effectiveness strategy evaluation tools.