Strategic entrepreneurial responses to economic, social, political and technological environment – a literature review

Abstract

The purpose of the paper is to critically evaluate and synthesize the existing body of completed and recorded work produced by researchers, scholars and practitioners in the field of business strategy, with a particular emphasis on investigating the strategic responses, including changes in the strategies, structures and cultures, to name a few, applied by companies in response tochanges in the global business environment. The business environment in the 21st century has become very dynamic and keeps on changing over time. The market has been characterized by a high level of uncertainties that managers need to respond quickly if their companies are to survive in the market. The Literature Review was obtained by analysing relevant journal papers that discuss the main developments and current debates in the field, from 2016 and on. In this regard, Business Source Complete (EBSCO), ABI/Inform Collection (ProQuest), ScienceDirect, and Google Scholar databases were queried. As a contribution to the literature, the paper will highlight the strategic responses that companies can develop to survive and outperform competitors in an uncertain and turbulent environment.