TowardsSustainableEnterprisesinUncertainBusinessEnvironment

Managing resources based on dynamic capabilities for enhancing performance could help enterprises advance towards sustainablegrowth, solving the challenges offered by the economic crisis and the uncertain markets. The first aim of the paper is to analyze various theoretical approaches related to the links between the real options (ROs) concept and some important strategicmanagementelements.Thesecondaimofthepaperistopresenttheresultsofresearch among decision-makers from Romania regarding the management process of enterprises. The results outline that the paper has contributions in terms of theoretical implications because it proposes a mathematical model based on RO. The quantitative research shows that decision- makers implementwell-knownstrategies,theyneednew instruments todeveloptheirenterprises and they are interested in creating a strong tool based on a real options analysis and strategic management elements. A RO application was carried out on a real organization to prove the practicalinfluenceinthedecision-makingprocess.