Evolution of Serial Entrepreneurship Strategies in Unstable Markets

The article offers a comprehensive analysis of the evolutionary trajectories of strategies adopted by serial (multi-entrepreneurial) economic actors operating in environments marked by high uncertainty and structural instability. Its objective is to identify, classify and theoretically substantiate the adaptive mechanisms employed to maneuver effectively within chaotic market conditions. The methodological foundation rests on a review of scholarly publications in the field alongside pertinent statistical data. Empirical and theoretical examination reveals that leading entrepreneurs have rejected any single strategic blueprint, instead demonstrating a high degree of flexibility. They cycle through various managerial logics according to the phase of the market cycle, the availability of financial and non-financial resources, and the prevailing level of systemic risk. Drawing on these empirical insights, the study describes a cyclical model that highlights key triggers and the chronological replacement of dominant managerial approaches—from bricolage during resource-scarcity phases to causal, plan-oriented management in periods of relative stabilization. This theoretical and applied outcome delivers practical value for current and future serial entrepreneurs, venture capital investors, and scholars focused on strategic management and the exploration of adaptive business strategies amid systemic crises.