ADAPTATION OF BUSINESS MANAGEMENT STRATEGIES TO THE CHALLENGES OF THE ECONOMIC ENVIRONMENT
Abstract
The article considers the actual problem of adapting business management strategies to the challenges arising from an unfavorable business environment. The purpose of writing the article is the research and analysis of business management strategies with the need to adapt them to the threats that arise in connection with the unfavorable business environment, in particular, the pandemic and the Russian invasion of Ukraine. Innovative business management strategies in adverse business environment conditions were studied and evaluated. The optimal ways of using digital technologies to ensure the successful functioning of enterprises in difficult conditions of uncertainty and change have been determined. The results of theoretical analysis and practical examples are combined for the understanding and development of business management strategies in the conditions of an unfavorable business environment. The impact of crisis situations on enterprises was studied and innovative approaches to their management were highlighted, which allowed to develop new approaches to business management in unstable conditions. The practical significance of the obtained results is that they provide specific recommendations and strategies for enterprises regarding effective management in adverse business environments. These recommendations will help the management to identify and use the opportunities that arise in difficult conditions and to reduce the risks for the sustainable operation of the enterprise. The application in the practical activities of enterprises of such innovations as the expanded use of online platforms and artificial intelligence allow them to adapt to crisis situations. At the same time, new risks are emerging, including cyber security and social issues. Businesses that have invested in digital technologies and quickly responded to changes have become more competitive and ready for future challenges. An unstable business environment requires constant innovative development from enterprises in terms of digitalization of business processes, taking into account risks, applying flexible approaches to enterprise management to ensure sustainability.
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