IDEAS home Printed from https://ideas.repec.org/a/cve/innsjn/v4y2024i4p151-159.html

Crisis transformations as a factor in the development of adaptive management of industrial enterprises

Author

Listed:
  • Yevhenii Rudnichenko
  • Dmytro Korbut

Abstract

The active development of crisis phenomena and digital transformation processes in the national economic space creates new prerequisites for the functioning of enterprises, which are characterized both by the formation of additional opportunities and by an increased vulnerability to modern challenges and threats. According to many researchers, the presence of contemporary challenges and threats significantly alters the economic conditions in which domestic enterprises operate, requiring special attention to the mechanisms for managing their competitive advantages. The ability of business entities to operate efficiently in an increasingly competitive environment, rapidly adapt to changing market conditions, and actively utilize intellectual and human capital becomes a key factor in their competitiveness in the digital economy. The aim of the study is to investigate the impact of crisis transformations on the development of adaptive management of industrial enterprises in the context of the digital economy and martial law. The impact of the large-scale invasion on the domestic economy has deepened and exacerbated existing problems and created a number of unprecedented challenges: Destruction of infrastructure (bridges, roads, warehouses, production facilities and other critical infrastructure), which complicates business logistics and disrupts supply chains; millions of Ukrainians were forced to flee their homes and seek refuge in safer regions of the country or abroad, resulting in labor shortages in some industries, as well as growing social and economic problems; a significant reduction in consumer and investment demand, which negatively affected the revenues and profitability of many businesses; supply disruptions, destruction of production facilities and inflationary pressures have led to a significant increase in prices for goods and services, which negatively affects the budgets of businesses and households. All this requires businesses to adapt and reorient quickly. Today, we can identify the types of crises that were not typical for the domestic sector of the economy until recently, but the military aggression of the Russian Federation and the development of digitalization and artificial intelligence technologies have made it necessary to take into account the risk factors and hazards resulting from military conflicts (loss of access to markets and resources, physical destruction of infrastructure, migration of personnel and consumers; increased general uncertainty and risks for business) and further digitalization of economic processes (lack of digital skills). Thus, today we can talk about the undeniable relevance of studying the impact of crisis transformations on the modern business environment. In the context of high dynamism of economic, technological and social factors, enterprises are forced to restructure their strategies and operating models to maintain competitiveness and viability in the market

Suggested Citation

  • Yevhenii Rudnichenko & Dmytro Korbut, 2024. "Crisis transformations as a factor in the development of adaptive management of industrial enterprises," Innovation and Sustainability Articles, Innovation and Sustainability, vol. 4(4), pages 151-159, December.
  • Handle: RePEc:cve:innsjn:v:4:y:2024:i:4:p:151-159
    DOI: https://doi.org/10.31649/ins.2024.4.155.162
    as

    Download full text from publisher

    File URL: https://inns.vn.ua/web/uploads/pdf/InnovationandSustainability,Vol.4,No.4,2024-151-159.pdf
    Download Restriction: no

    File URL: https://libkey.io/https://doi.org/10.31649/ins.2024.4.155.162?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    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:cve:innsjn:v:4:y:2024:i:4:p:151-159. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Innovation and Sustainability (email available below). General contact details of provider: https://inns.vn.ua/ .

    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.