Strategic Renewal in Times of Crisis: A Framework for Business Resilience in Bangladesh
Keywords:
Adaptive strategy, Crisis management, Digital transformation, Leadership development, Resilience, Strategic agilityAbstract
The purpose of this study is to identify the processes of strategic renewal for organizations in Bangladesh. It also looks at how and why these processes help firms in sustaining competitiveness during a crisis and building resilience. Due to the rising global volatility, economic shocks, political instability, and rapid technology disruption, the use of long-term strategic planning models is increasingly challenged. In recent years, although Bangladesh has been able to make firm economic progress, the business environment continues to remain vulnerable. This is mainly due to weak and ineffective regulatory systems, poor infrastructure, policy unpredictability, etc. Moreover, there are issues of over-dependence on the global market. Adaptive leadership, strategic flexibility, stakeholder collaboration, and digital transformation were found to enhance organizational renewal in such contexts, according to the research. Companies that use digital tech, scenario planning, and participatory decision-making are better able to respond to unprecedented disruptions and turn crises into innovation opportunities. The analysis also identifies how strategic paralysis occurs due to fluctuations in the market, regulatory unpredictability, and short-term financial pressure, which stop the implementation of long-term strategies. Using secondary data, a literature review, and thematic analysis, the proposed integrated Strategic Vision Adaptation Framework (SVAF) is developed in the Bangladesh context. According to the report, organizations need to improve on leadership development, digital readiness, and governance mechanisms to go from being responsive to crises to being adaptive for growth. According to the study, for the Bangladeshi firms to be resilient and grow sustainably in a complex, uncertain global environment, strategic renewal is a must.
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