id: 35196
Title: Leadership in Unstable Conditions: Change Management Strategies and Effective Crisis Management for Achieving Success
Authors: Kulinich T., Materynska O., Aleskerova Y., Kuzmenko H., Balian I.
Keywords: Bani, Business environment, Concept, Crisis management, Leadership, Modern change management strategies, Unstable conditions, Vuca
Date of publication: 2024-02-19 17:43:22
Last changes: 2024-02-19 17:43:22
Year of publication: 2024
Summary: The paper is devoted to the issue of leadership in unstable conditions in terms of change management strategies and effective crisis management for achieving success. The relevance of the study lies in the fact that it is challenging to be a leader in a changing world where it is almost impossible to predict all the factors of influence, as well as the significance of each unfavorable factor. Consequently, the leadership should be based on precise calculations and a deep understanding of the processes. Also, it should be based on the absence of fear of risk and loss of the company`s leading position in the market. The article aims to highlight the leadership in unstable conditions in terms of change management strategies and effective crisis management for achieving success. The subject of the study is modern change management strategies in the business environment. Research methods. The research employed such methods as description, analysis and synthesis, comparison, generalization, and modeling. The article outlines the complexities of leadership in the modern unstable environment. The authors describe the factors influencing the contemporary business environment. Furthermore, they analyze the essence of VUСA as a modern world and compare the differences between the VUСА and BANI worlds. The paper considers such features of the contemporary world as complexity, ambiguity, uncertainty, instability, fragility, anxiety, and the presence of many threats. In addition, it summarizes the impact of artificial intelligence on the business environment and competitiveness. The authors describe such modern change management strategies as the strategy of developing emotional intelligence and intuition, the strategy of non-linear thinking, the VUСA concept, and mindfulness. The article describes the possibilities of developing each strategy while training staff and managers. Also, the use of scenarios in specific cases is analyzed. The paper analyzes the essence of crisis management and determines the differences between preventive and curative strategies. The study considers the application of crisis management in certain circumstances and its benefits. It was determined that the relevance of this work is the importance of leadership in today`s unstable world, which allows us to determine how leadership can be effectively implemented in various aspects. In addition, due to the pandemic and military operations, economic crises, and the emergence of new markets, it is difficult to fully compete with strong players. Accordingly, the issue of leadership strategies is quite relevant.
DOI: 10.37394/23207.2023.20.236
URI: http://socrates.vsau.org/repository/getfile.php/35196.pdf
Publication type: Статті Scopus
Publication: WSEAS Transactions on Business and Economics. 2023. Vol. 20. P. 2781-2788. DOI: 10.37394/23207.2023.20.236
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