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Dynamic strategy for sustainable business development: mania or hazard?

Author

Listed:
  • Jarmila Šebestová

    (Silesian University in Opava, School of Business Administration in Karvina, Czech Republic)

  • Kateřina Nowáková

    (Silesian University in Opava, School of Business Administration in Karvina, Czech Republic)

Abstract

The main goal of this paper is to present a practical model of sustainability ratio. In this context, the study provides an analysis of theoretical literature sources in area of strategy evaluation and possible measurement of success. The purpose of presented research was to discover the impact of external business environment factors (based on previous PESTLE analysis) on current strategic behavior in small and medium sized business area. The survey was conducted on SMEs in the Czech Republic in 2011 within own research project. The proposed model of sustainability ratio incorporates dynamic behavior and shows how manipulating certain items can alter outcomes in the strategic system in a predicable way. As a contribution to the literature, the paper highlights on the flexibility of business strategy types and which items are the most important for strategy making in an uncertain and turbulent environment.

Suggested Citation

  • Jarmila Šebestová & Kateřina Nowáková, 2013. "Dynamic strategy for sustainable business development: mania or hazard?," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 15(34), pages 442-454, June.
  • Handle: RePEc:aes:amfeco:v:15:y:2013:i:34:p:442-454
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    References listed on IDEAS

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    1. Marieta Olaru & Vasile Dinu & Ghiorghiţa Stoleriu & Diana Şandru & Violeta Dincă, 2010. "Responsible Commercial Activity Of Smes And Specific Values Of Sustainable Development In Terms Of The European Excellence Model," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 12(27), pages 10-26, February.
    2. M.A. Carree & A.R. Thurik, 2008. "The Lag Structure of the Impact of Business Ownership on Economic Performance in OECD Countries," Small Business Economics, Springer, vol. 30(1), pages 101-110, January.
    3. Armenia Androniceanu & Irina-Virginia Drăgulănescu, 2012. "Sustainability of the Organizational Changes in the Context of Global Economic Crisis," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(32), pages 365-379, June.
    4. Robert H. Keeley & Juan B. Roure, 1990. "Management, Strategy, and Industry Structure As Influences on the Success of New Firms: A Structural Model," Management Science, INFORMS, vol. 36(10), pages 1256-1267, October.
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    6. Vasile Dinu, 2010. "Commercial Activity And The Sustainable Development," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 12(27), pages 5-7, February.
    7. J. Stuart Evans, 1991. "Strategic Flexibility For High Technology Manoeuvres: A Conceptual Framework," Journal of Management Studies, Wiley Blackwell, vol. 28(1), pages 69-89, January.
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    Citations

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    Cited by:

    1. Ovidiu-Niculae Bordean & Anca Borza, 2014. "Strategic Management Practices within the Romanian Hotel Industry," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 16(Special 8), pages 1238-1238, August.
    2. Renáta Pakšiová, 2017. "The Critical Analysis of Profit for its Allocation Decision-Making," Scientific Annals of Economics and Business (continues Analele Stiintifice), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 64(4), pages 41-56, December.
    3. Sayin Ferhan & Croitoru Gabriel & Robescu Valentina Ofelia & Florea Nicoleta Valentina, 2022. "Increasing the Efficiency of The Romanian Tourism Sector by Improving the Service Management and using Mathematical Modeling," Valahian Journal of Economic Studies, Sciendo, vol. 13(1), pages 75-88, April.
    4. Kamila Turečková & Jan Nevima & Jaroslav Škrabal & Stanislav Martinát, 2018. "Uncovering Patterns of Location of Brownfields to Facilitate Their Regeneration: Some Remarks from the Czech Republic," Sustainability, MDPI, vol. 10(6), pages 1-14, June.
    5. Renata Pakšiová & Denisa Oriskóová, 2020. "Capital Maintenance Evolution using Outputs from Accounting System," Scientific Annals of Economics and Business (continues Analele Stiintifice), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 67(3), pages 311-331, September.

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    More about this item

    Keywords

    crisis behaviour; Czech firms; dynamic mania; dynamic effects; survival ratio; strategy;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General

    Statistics

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