Adaptive Strategic Management in a Digital Business Environment

Abstract

The authors of the article hypothesize the positive impact of the global digitalization of business on the development of adaptive management of the company in a changing business environment. Based on a thorough analysis of recent publications on the subject of adaptive strategic management, it was found that under the conditions of digitalization of business relationships, indicative tools and flexible methods of management decisions are activated. The purpose of the article is to develop conceptual and applied foundations of adaptive strategic management in the context of digital transformation of business. To implement this goal, the authors justified the principles and approach of adaptive strategic management in the digitalization of business, systematized the actual methods of diagnostics of prerequisites for the implementation of the strategy, the choice and implementation of its optimal variant, defined the tools of adaptive management. Methodological basis of research are system-structural and dialectical methods to substantiate the essence of the processes of digitalization of the business environment and determine their impact on strategic decision-making; modeling to develop a mechanism for implementing adaptive strategies of companies; method of algorithmization, integrated approach and system analysis to develop a mechanism as a complete system and determine the sequence of its action. Scientific novelty of the study consists in the development of adaptive management mechanism of strategy implementation in an activated digital environment, promoting the spread of situational approach in management, updating of indicative tools, more flexible methodologies for management decisions. The mechanism of realization of the adaptive strategy assumes functioning of three subsystems: diagnostics of preconditions of realization of strategy, selection of an optimum variant of strategy and introduction of the strategic scenario. The authors have developed tools for subsystems, proposed methods to achieve the objectives, disclosed the functions in the overall mechanism. At the input to the mechanism are the interests of the client, determining the positioning of the company in the foreign and domestic market. As a result of the mechanism, the company adapts to the changing external environment, providing a stable competitive market position and operational action of all structural units, adequately and quickly responding to market conditions and changes. The authors also investigated the applied aspects of the mechanism's action, and listed its functions and tasks in the digital environment, as well as the resources for its functioning. The authors consider the complexity of counteracting the high risks of digitalization of business to be significant limitations of the mechanism, which determines new directions for further research and opportunities for improvement of the mechanism. The authors consider the risk management of adaptive strategies, the dissemination of indicative methods for diagnosing the digital environment, and the development of strategic adaptive management models to be promising directions for scientific developments in this area. The practical significance of the study lies in the possibility of using its results in the practice of management of modern companies in order to ensure sound management decisions and strategic development in the context of global digitalization of business.

Adaptation of a logistics company`s business model in the era of digitalization

“…The conceptual and applied foundations of adaptive strategic management in the conditions of digital transformation of business are reflected in [10], where the principles and approaches of adaptive strategic management in the conditions of digitalization of business are defined, current methods of diagnosis of prerequisites for strategy implementation, selection and implementation of its optimal option are systematized, and the toolkit of adaptive management is defined.…”

Untitled

“…O. Zinchenko et al (2022) proved that in the system of adaptive strategic management, the use of indicative management decision-making tools is actualized; discovered in the mechanism of implementation of the adaptive strategy subsystems of implementation of the strategic scenario, optimization of strategy options, diagnostics of the state of strategy implementation.…”

Strategic Management Approaches and the Realization of Business Identity: Perspective from Italy

“…Doorperson asserts that a fit drives both, competitive advantages as well as sustainability. Expectancy to find a method accomplished as regular with its visualization & remedy is driven by number of mandates (Zinchenko, Privarnikova & Samoilenko, 2022). The individual oriented reasoning of technique formula is affected by the environments in which approach is imagined.…”

“…The core trouble in such problems is managing a scenic view of unpredictability underlying each step of strategy application as well as solving the functions to satisfy the business purpose. Recommending a crucial fit to resolve this area requires a mix of organization values, settlement power in addition to behavior projecting for temporary objectives in addition to the perseverance to apply it (Zinchenko, et al, 2022).…”