Dynamic strategy and sustainable business development: lessons learned from the crisis

Abstract

Each adaptation in business is an impulse to change and may cause unexpected behaviour inside or outside the company. This article aims to present an innovative thinking bond and investment success in overcoming the crisis, based on the results of the research carried out. From knowledge of current methods of management and business management services in general it can be inferred that the enterprise can develop an open system that is capable of rapidly adapting to positive and negative external influences. Which interactions support the dynamics and adaptability of the strategy in a positive way? As a contribution to the literature, the paper will highlight which elements have the biggest influence on the flexibility of business and which items are the most important for sustainable behaviour in an uncertain and turbulent environment. In this survey (twice observed groups), the main aim is to identify the effect of investment on innovation, strategy preparation and the relationship between financial ratios and company performance. The survey of this study was conducted with owners and managers of small and medium size businesses in the Czech Republic (under 250 employees) operating between the years 2007–2012. The main goal of this paper is, based on the literature review, to provide a practical model of adaptation. Research methodology, analyses results and research models will take place in the second section. The results of the analyses will be discussed and recommendations will be provided in the last section. The QRBITS analysis is presented as a special tool for analyzing the business environment and resources. Finally, a model of dynamic entrepreneurship is presented as a combination of factors which generate the final effectiveness of strategy implementation.

Keywords

• adaptability
• strategy
• innovations
• QRBITS
• sustainable business