The influence of external factors on corporate strategy and strategies for adaptation in light of the global challenges
DOI:
https://doi.org/10.59992/IJFAES.2024.v3n10p3الكلمات المفتاحية:
Corporate Strategy، External Factors، Global Challenges، Adaptation Strategies، Economic Conditions، Technological Advancements، Market Competitivenessالملخص
This study investigates the influence of external factors on corporate strategy and explores strategies for adaptation in the face of global challenges. The primary objective is to analyze how various external variables including economic conditions, technological advancements, regulatory shifts, and socio-cultural changes affect corporate decision-making and strategic planning. Utilizing a quantitative research methodology, the study involved a structured survey distributed to a sample of 116 corporate executives across diverse industries, allowing for a comprehensive analysis of the data collected. Statistical techniques were employed to identify correlations between the external factors and the strategic adaptations implemented by organizations. The findings reveal that economic fluctuations and rapid technological innovations are the most significant external influences on corporate strategies. Companies that proactively respond to these changes tend to exhibit greater resilience, enhanced market competitiveness, and improved long-term sustainability. The research underscores that organizations that incorporate external insights into their strategic planning are more capable of developing effective responses to evolving challenges. To address these findings, the study offers several recommendations: organizations should enhance their agility by investing in thorough market research and establishing flexible strategic frameworks that can swiftly adapt to external changes. Furthermore, fostering a culture of innovation and continuous learning within the organization is crucial for navigating the complexities of global challenges effectively. By embracing these adaptive strategies, companies not only prepare themselves to confront immediate challenges but also position themselves favorably for future opportunities in a rapidly changing environment. Ultimately, this research contributes valuable insights to the literature on corporate strategy, emphasizing the necessity of understanding external dynamics and implementing adaptive strategies for organizational success in today’s competitive landscape. The study provides a foundation for further exploration into how organizations can strategically navigate external influences while maintaining agility and responsiveness in their operations.
المراجع
- Adebajo, B. A. (2023). Introduction to Descriptive statistics. Retrieved from https://www.researchgate.net/publication/374981645_Introduction_to_Descriptive_statistics.
- Alshenqeeti, H. (2014). Interviewing as a Data Collection Method: A Critical Review. Retrieved from.
- Al-Zehhawi, A. M. (2022). THE INFLUENCE OF QUANTITATIVE RESEARCH IN BUSINESS & INFORMATION TECHNOLOGY: AN APPROPRIATE RESEARCH METHODOLOGY PHILOSOPHICAL REFLECTION. Retrieved from.
- Atuahene, N. A. (2023). Exploring The Relationship Between Organizations Internal And External Environments: A Conceptual Study. Retrieved from https://www.researchgate.net/publication/376579438_Exploring_The_Relationship_Between_Organizations_Internal_and_External_Environments_A_Conceptual_Study.
- Bevans, R. (2020). One-way ANOVA | When and How to Use It (With Examples). Retrieved from https://www.scribbr.com/statistics/one-way-anova/
- Borowski, P. F. (2018). Adaptation strategy on regulated markets of power companies in Poland. Retrieved from.
https://journals.sagepub.com/doi/full/10.1177/0958305X18787292
- Bullut, W. J. (2021). Strategic Adaptation and Performance of Small and Medium Manufacturing Enterprises in Kariobangi Light Industries. Retrieved from http://erepository.uonbi.ac.ke/handle/11295/160507
- Deep, G. (2023). Strategic decision-making: A crucial skill for business managers. Retrieved from.
- Farida, I. (2022). Business Strategies and Competitive Advantage: The Role of Performance and Innovation. Retrieved from.
- Gamage, S. K. (2020). A Review of Global Challenges and Survival Strategies of Small and Medium Enterprises (SMEs). 8(4). Retrieved from.
https://www.mdpi.com/2227-7099/8/4/79
- Gasbarro, F. (2016). Corporate Adaptation Behaviour to Deal With Climate Change: The Influence of Firm-Specific Interpretations of Physical Climate Impacts. Retrieved from https://onlinelibrary.wiley.com/doi/full/10.1002/csr.1374
- Ghonim, M. A. (2020). Strategic alignment and its impact on decision effectiveness: a comprehensive model. Retrieved from.
- Holmström, J. (2024). How organizations can innovate with generative AI. Retrieved from https://www.sciencedirect.com/science/article/pii/S0007681324000247
- Kamaldeen, O. (2024). A Systemic Approach to Strategic Planning: Navigating Complexity with Clarity. Retrieved from.
- Kang, E. (2023). The Importance of Anonymity and Confidentiality for Conducting Survey Research. Retrieved from.
- Katsikeas, C. (2020). Revisiting international marketing strategy in a digital era: Opportunities, challenges, and research directions. Retrieved from.
https://www.emerald.com/insight/content/doi/10.1108/IMR-02-2019-0080/full/html
- Khanal, B. (2024). A Pilot Study Approach to Assessing the Reliability and Validity of Relevancy and Efficacy Survey Scale. Retrieved from.
- Kovalchuk, A. (2021). Strategic Management of Adaptation of Enterprises Innovation Activity of to the Conditions of the Sustainable Development. retrieved from strategic management of adaptation of enterprises innovation activity of to the conditions of the sustainable development
- Lazarova, M. (2023). Global work in a rapidly changing world: Implications for MNEs and individuals. 58(1). Retrieved from.
https://www.sciencedirect.com/science/article/pii/S1090951622000566
- Pandey, N. (2023). What is Descriptive Statistics? An Overview of its Importance. Retrieved from https://emeritus.org/blog/what-is-descriptive-statistics/
- Quansah, E. (2021). Strategic adaptation: leadership lessons for small business survival and success. Retrieved from.
https://www.emerald.com/insight/content/doi/10.1108/AJB-07-2020-0096/full/html
- Rahman, A. (2021). SPSS: An Imperative Quantitative Data Analysis Tool for Social Science Research. Retrieved from.
- Ricadela, A. (2023). Supply Chain and Inflation: Issues and Impacts. Retrieved from https://www.oracle.com/eg/scm/supply-chain-inflation/
- Sadiku, K. M. (2022). External Factors and Their Impact on Enterprise Strategic Management – A Literature Review. Retrieved from
- Sonwalkar, R. (2024). Guide to Descriptive Statistics: Definition, Types, and More. Retrieved from https://julius.ai/articles/descriptive-statistical-analysis-guide
- Tadayonrad, Y. (2023). A new key performance indicator model for demand forecasting in inventory management considering supply chain reliability and seasonality. Retrieved from.
https://www.sciencedirect.com/science/article/pii/S2949863523000250
- Yellapu, V. (2018). Descriptive statistics. Retrieved from
https://www.researchgate.net/publication/327496870_Descriptive_statistics.
