IDEAS home Printed from https://ideas.repec.org/a/blg/journl/v20y2025i1p263-280.html
   My bibliography  Save this article

The Future Of Entrepreneurship: Strategic Approaches For Business Adaptation In A Changing Global Environment. From Risks To Opportunities

Author

Listed:
  • Sorin TERCHILA

    (Lucian Blaga University of Sibiu, Romania)

Abstract

In a rapidly evolving global landscape, businesses face unprecedented challenges driven by technological advancements, economic volatility, and geopolitical uncertainties. This article explores how entrepreneurship can adapt to these dynamic conditions by leveraging strategic innovation, digital transformation, and agile business models. Drawing on a comprehensive literature review and empirical research, including bibliometric analysis and semi-structured interviews, the study highlights key adaptation strategies used by entrepreneurs in response to market disruptions, regulatory changes, and emerging risks. Findings indicate that businesses that prioritize digitalization, strategic flexibility, and proactive risk management are more resilient in the face of crises such as the COVID-19 pandemic and geopolitical conflicts like the Ukraine crisis. The study also reveals significant regional differences in entrepreneurship, with the United States leading in innovation-driven startups, while European businesses focus on sustainability and structured regulatory environments. Through interdisciplinary insights spanning economics, business management, and technological innovation, this research underscores the critical role of entrepreneurship in economic development. The study concludes that the future success of businesses depends on their ability to integrate emerging technologies, foster collaboration, and maintain an adaptive strategic approach in an increasingly uncertain global environment. These insights offer valuable recommendations for business leaders, and entrepreneurs seeking to transform risks into sustainable growth opportunities.

Suggested Citation

  • Sorin TERCHILA, 2025. "The Future Of Entrepreneurship: Strategic Approaches For Business Adaptation In A Changing Global Environment. From Risks To Opportunities," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 20(1), pages 263-280, April.
    • Handle: RePEc:blg:journl:v:20:y:2025:i:1:p:263-280
    as

    Download full text from publisher

    File URL: http://magazines.ulbsibiu.ro/eccsf/RePEc/blg/journl/20115terchila.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    2. Jeffrey G. Covin & Dennis P. Slevin, 1991. "A Conceptual Model of Entrepreneurship as Firm Behavior," Entrepreneurship Theory and Practice, , vol. 16(1), pages 7-26, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Marcin Suder, 2025. "Determinant or moderator? Exploring the role of the external environment in the relationship between dimensions of entrepreneurial orientation and firm performance. Evidence from the hotel industry," International Entrepreneurship and Management Journal, Springer, vol. 21(1), pages 1-53, December.
    2. Bouguerra, Abderaouf & Cakir, M. Selim & Rajwani, Tazeeb & Mellahi, Kamel & Tatoglu, Ekrem, 2025. "MNEs engagement with environmental sustainability in an emerging economy: Do dynamic capabilities and entrepreneurial orientation matter?," International Business Review, Elsevier, vol. 34(2).
    3. Esthela Galván-Vela & Eduardo Arango Herrera & Deisy Milena Sorzano Rodríguez & Rafael Ravina-Ripoll, 2021. "State-of-the-Art Analysis of Intrapreneurship: A Review of the Theoretical Construct and Its Bibliometrics," JRFM, MDPI, vol. 14(4), pages 1-16, April.
    4. Li Peng & Yuan Li & Marc Essen & Mike W. Peng, 2020. "Institutions, resources, and strategic orientations: A meta-analysis," Asia Pacific Journal of Management, Springer, vol. 37(2), pages 499-529, June.
    5. Firdaus Basbeth & Ainon Ramli & Muhammad Ashlyzan Bin Razik & Rosmaizura Mohd Zain & Noorshella Bin Che Nawi, 2019. "The Role of Multi Dimensional EO in the Competitive Strategy - Performance Link," Research in World Economy, Research in World Economy, Sciedu Press, vol. 10(2), pages 20-25, July.
    6. Yunis, Manal & Tarhini, Abbas & Kassar, Abdulnasser, 2018. "The role of ICT and innovation in enhancing organizational performance: The catalysing effect of corporate entrepreneurship," Journal of Business Research, Elsevier, vol. 88(C), pages 344-356.
    7. Francesca Maria Cesaroni & Mara Del Baldo & Paola Demartini & Paola Paoloni, 2015. "Entrepreneurial, Renewal and Trust Capital of Italian Firms: Insights from an Empirical Study," International Journal of Management, Knowledge and Learning, International School for Social and Business Studies, Celje, Slovenia, vol. 4(1), pages 69-89.
    8. Tajeddini, Kayhan & Gamage, Thilini Chathurika & Tajdini, Javad & Qalati, Sikandar Ali & Siddiqui, Faiza, 2023. "Achieving sustained competitive advantage in retail and consumer service firms: The role of entrepreneurial orientation and entrepreneurial bricolage," Journal of Retailing and Consumer Services, Elsevier, vol. 75(C).
    9. Edelman, Linda F. & Brush, Candida G. & Manolova, Tatiana, 2005. "Co-alignment in the resource-performance relationship: strategy as mediator," Journal of Business Venturing, Elsevier, vol. 20(3), pages 359-383, May.
    10. Tânia Gonçalves & Mário Sérgio Teixeira & José G. Dias & Sofia Gouveia & Ricardo Jorge Correia, 2021. "Commitment to exporting as an antecedent of organizational skills and firm performance," Journal of Business Economics, Springer, vol. 91(7), pages 1063-1084, September.
    11. Engelen, Andreas & Kube, Harald & Schmidt, Susanne & Flatten, Tessa Christina, 2014. "Entrepreneurial orientation in turbulent environments: The moderating role of absorptive capacity," Research Policy, Elsevier, vol. 43(8), pages 1353-1369.
    12. Osama Musa Ali Al-Darras & Cem Tanova, 2022. "From Big Data Analytics to Organizational Agility: What Is the Mechanism?," SAGE Open, , vol. 12(2), pages 21582440221, June.
    13. Nadia Zahoor & Yong Kyu Lew, 2022. "Sustaining superior international performance: Strategic orientations and dynamic capability of environmentally concerned small‐ and medium‐sized enterprises," Business Strategy and the Environment, Wiley Blackwell, vol. 31(3), pages 1002-1017, March.
    14. Yagüe-Perales, Rosa M. & March-Chordà, Isidre, 2012. "Performance analysis of research spin-offs in the Spanish biotechnology industry," Journal of Business Research, Elsevier, vol. 65(12), pages 1782-1789.
    15. Mitja Ruzzier & Evan J. Douglas & Maja Konečnik Ruzzier & Jana Hojnik, 2020. "International Entrepreneurial Orientation and the Intention to Internationalize," Sustainability, MDPI, vol. 12(14), pages 1-19, July.
    16. Hwan Jin Kim, 2018. "Reconciling Entrepreneurial Orientation and Dynamic Capabilities: A Strategic Entrepreneurship Perspective," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 27(2), pages 180-208, September.
    17. Encarnacion García-Sánchez & Víctor Jesús García-Morales & Rodrigo Martín-Rojas, 2018. "Analysis of the influence of the environment, stakeholder integration capability, absorptive capacity, and technological skills on organizational performance through corporate entrepreneurship," International Entrepreneurship and Management Journal, Springer, vol. 14(2), pages 345-377, June.
    18. Zahra, Shaker A. & Garvis, Dennis M., 2000. "International corporate entrepreneurship and firm performance: The moderating effect of international environmental hostility," Journal of Business Venturing, Elsevier, vol. 15(5-6), pages 469-492.
    19. Shaker A. Zahra & Anders P. Nielsen & William C. Bogner, 1999. "Corporate Entrepreneurship, Knowledge, and Competence Development," Entrepreneurship Theory and Practice, , vol. 23(3), pages 169-189, April.
    20. Maryono & Imam Ghozali & Amie Kusumawardhani & R. Mahelan Prabantarikso & Firdaus Basbeth, 2020. "Entrepreneurial Orientation in Government-Owned Bank: Do They Improve Competitive Advantage?," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(2), pages 262-270, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:blg:journl:v:20:y:2025:i:1:p:263-280. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mihaela Herciu (email available below). General contact details of provider: https://edirc.repec.org/data/feulbro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.