Full Article: PDF
Scientific Object Identifier: http://s-o-i.org/1.1/TAS-09-101-39
DOI: https://dx.doi.org/10.15863/TAS.2021.09.101.39
Language: English
Citation: Rahmonova, D. M. (2021). Management strategies in changing environments. ISJ Theoretical & Applied Science, 09 (101), 384-386. Soi: http://s-o-i.org/1.1/TAS-09-101-39 Doi: https://dx.doi.org/10.15863/TAS.2021.09.101.39 |
Pages: 384-386
Published: 30.09.2021
Abstract: Whether the business is small or giant, continuous and unexpected changes in external environment does not let them to stay unchanged or irresponsive. In other words, businesses cannot ignore the external turbulences, if they want to survive and succeed in their market. Here, businesses will be required to quickly moderate, edit or sometimes even completely transform the business strategy that they had established before changes occurred. These strategies which will be created or crafted in the process , defined as emerging strategies in strategic management world. One example for such unexpected turbulences in environment is recent COVID-19, which has proved that businesses should be flexible and fast enough in adapting to changes and coming up with new innovations or at least applicable moderations in their existing strategies. By his in depth research in this field Mintzberg (1987) compares the work of strategist to craftsman, where both are required to create the product by standing in the middle of their past experiences and expected future. That is where sometimes, new market opportunities are opened.
Key words: Management, Emerging Strategies, Change, Innovation, turbulence.
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