STRATEGIC MANAGEMENT IN THE AGE OF MULTIPLICITY: NAVIGATING THE ‘99 LIVES’ CONSUMER TREND THROUGH DYNAMIC CAPABILITIES FRAMEWORK
THE ART OF PREDICTING THE FUTURE TRENDS, N. T. Tekeoğlu,F. Yıldırım,N. İ. Küçükçolak, Editör, Scala Publishing, İstanbul, ss.1-16, 2024
- Yayın Türü: Kitapta Bölüm / Araştırma Kitabı
- Basım Tarihi: 2024
- Yayınevi: Scala Publishing
- Basıldığı Şehir: İstanbul
- Sayfa Sayıları: ss.1-16
- Editörler: N. T. Tekeoğlu,F. Yıldırım,N. İ. Küçükçolak, Editör
- Ankara Yıldırım Beyazıt Üniversitesi Adresli: Evet
Özet
This study examines the intricate relationship between the “99 Lives” consumer trend, strategic management, and contemporary consumer trends within the dynamic framework of modern business environments. By integrating Faith Popcorn’s concept of “99 Lives”, which delineates the contemporary consumer’s struggle to manage multiple roles and identities due to technological and societal changes the theoretical underpinnings of the Dynamic Capabilities Framework (Teece et al., 1997), this paper illuminates the evolving landscape of strategic management in response to multifaceted consumer behaviours. The analysis reveals how the sensing, seizing, and transforming capabilities posited by the Dynamic Capabilities Framework are crucial for firms navigating the complexities introduced by the “99 Lives” trend and other emerging consumer trends. Specifically, the study underscores the importance of
firms’ abilities to sense fragmented consumer identities, seize strategic opportunities through innovative solutions, and continuously transform business models to cater to the diverse needs of modern consumers. Additionally, this paper explores the implications of such trends for market dynamics, emphasizing the necessity for businesses to adopt more flexible, consumer-centric strategies in the face of rapid market shifts and increased consumer expectations. By bridging theoretical strategic management constructs with practical market phenomena, this research contributes to a deeper understanding of the alignment between firm strategies and consumer trends in contemporary markets. The findings suggest that integrating dynamic capabilities with an acute understanding of evolving consumer trends is imperative for sustaining competitive advantage and achieving business success in today’s volatile market landscape. Keywords: 99 Lives, Consumer Behaviour, Dynamic Capabilities, Strategic Management