Crisis Management Perspective of the Development, Adoption and Market Diffusion of Disruptive Technologies

Abstract Advanced technologies and the associated business models that disrupt existing market structures often undermine the position of certain professional and social groups while benefiting others. This disruption poses significant threats to the efficient functioning of businesses. The disruptive nature of these technologies leads to turbulence and chaos in the external environment, characterized by high dynamics, rapid changes, increased uncertainty and unpredictability, heightened system complexity, and reduced decision-making times. The article delves into the crises generated by the introduction of disruptive technologies to the market, focusing on their management and their implications for the strategic management of business organizations. The study explores the interconnections between crisis management and other related concepts, such as business continuity management, risk management, and disaster recovery, emphasizing their complementary roles in overall organizational change management. The relationship between resilience and disruption disaster management is also analyzed. This article examines approaches to crisis management arising during the creation, adoption, and deployment of disruptive technologies with special attention given to the current state of crisis management frameworks and their applicability in the disruptive technological and market development processes. It further proposes effective approaches and methodologies for managing and resolving these crises. Additionally, algorithmic solutions are presented to address crises stemming from technological change and the continuous emergence of disruptive technologies. JEL classification numbers: O33, H12, O31. Keywords: Disruptive Technologies, Technological Change, Innovations, Crisis, Crisis Management.