Companies' market adaptation strategies in the academic literature

Adapting to market changes is the lifeblood of any business. In the context of an increasingly dynamic environment, the need for a company to survive, adapt, and perform in the marketplace requires innovative strategies supported by digitalization. Developing the entrepreneurial behavior of human ca...

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Bibliographic Details
Published in:CES working papers 2023, Vol.15 (1), p.71-88
Main Authors: Maftei, Maria-Magdalena, Butnaru, Gina-Ionela
Format: Article
Language:English
Subjects:
business administration
companies market
strategic adaptation
strategies
Online Access:Get full text
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Summary:Adapting to market changes is the lifeblood of any business. In the context of an increasingly dynamic environment, the need for a company to survive, adapt, and perform in the marketplace requires innovative strategies supported by digitalization. Developing the entrepreneurial behavior of human capital and maximizing the company's financial performance requires continuous learning, time management, and building strong and constructive relationships. In this study, an up-to-date review of the specialized literature sets the stage for classifying companies' market adaptation strategies into internal and external strategies. Thus, the results obtained are in line with the company's objectives to identify strategies for market adaptation in a dynamic and challenging environment. Among them, innovative strategies to adapt the company to the market, based on education and experience, have long-term positive effects on economic growth and development in the field.
ISSN:2067-7693
2067-7693