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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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    File URL: http://www.amfiteatrueconomic.ro/temp/Article_1212.pdf
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    References listed on IDEAS

    as
    1. 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.
    2. 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.
    3. Rui Baptista & Murat Karaoez, 2007. "Turbulence in High Growth and Declining Industries," Jena Economic Research Papers 2007-043, Friedrich-Schiller-University Jena.
    4. repec:aph:ajpbhl:1977:67:2:155-161_3 is not listed on IDEAS
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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. repec:gam:jsusta:v:10:y:2018:i:6:p:1984-:d:152234 is not listed on IDEAS

    More about this item

    Keywords

    crisis behaviour; Czech firms; dynamic mania; dynamic effects; survival ratio; strategy;

    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

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