Article: Manifestation of strategic entrepreneurship during the covidisation of the economy as the ultimate expression of the VUCA environment Journal: International Journal of Entrepreneurial Venturing (IJEV) 2025 Vol.17 No.3 pp.298 - 325 Abstract: This article examines the manifestation of strategic entrepreneurship during the COVIDisation of the economy, viewed as the ultimate expression of the VUCA environment. It conceptualises strategic entrepreneurship as the intersection between strategy (advantage-seeking management) and entrepreneurship (opportunity-seeking actions). The term 'COVIDisation of the economy' captures the challenges firms faced due to COVID-19, encompassing both short-term impacts and long-term transformations. Using a mixed-method approach that combined quantitative and qualitative research conducted during the first and third waves of COVID-19, the study identifies how companies exhibited strategic entrepreneurial behaviour to adapt to uncertainty. Four manifestations of strategic entrepreneurship are analysed - organisational rejuvenation, sustained regeneration, strategic renewal, and domain redefinition - each reflecting different degrees of transformation. The paper presents a model outlining these forms and their specific characteristics, concluding that strategic entrepreneurship plays a central role in enabling firms to navigate and thrive amid turbulent, post-COVID business environments. Inderscience Publishers - linking academia, business and industry through research

Title: Manifestation of strategic entrepreneurship during the covidisation of the economy as the ultimate expression of the VUCA environment

Authors: Radko Radev; Veselina Yankova

Addresses: Scientific and Research Center 'Innovation and Competitiveness', Business Faculty, University of National and World Economy, Sofia, Bulgaria ' Faculty of Business, Higher Colleges of Technology, P.O. Box 25026, Abu Dhabi, United Arab Emirates

Abstract: This article examines the manifestation of strategic entrepreneurship during the COVIDisation of the economy, viewed as the ultimate expression of the VUCA environment. It conceptualises strategic entrepreneurship as the intersection between strategy (advantage-seeking management) and entrepreneurship (opportunity-seeking actions). The term 'COVIDisation of the economy' captures the challenges firms faced due to COVID-19, encompassing both short-term impacts and long-term transformations. Using a mixed-method approach that combined quantitative and qualitative research conducted during the first and third waves of COVID-19, the study identifies how companies exhibited strategic entrepreneurial behaviour to adapt to uncertainty. Four manifestations of strategic entrepreneurship are analysed - organisational rejuvenation, sustained regeneration, strategic renewal, and domain redefinition - each reflecting different degrees of transformation. The paper presents a model outlining these forms and their specific characteristics, concluding that strategic entrepreneurship plays a central role in enabling firms to navigate and thrive amid turbulent, post-COVID business environments.

Keywords: strategic entrepreneurship; COVIDization of the economy; VUCA environment; transformation; configuration; business model innovation.

DOI: 10.1504/IJEV.2025.151384

International Journal of Entrepreneurial Venturing, 2025 Vol.17 No.3, pp.298 - 325

Accepted: 15 Jul 2025
Published online: 26 Jan 2026 *

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Title: Manifestation of strategic entrepreneurship during the covidisation of the economy as the ultimate expression of the VUCA environment

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