Studying adaptive management strategies for businesses is crucial in modern geopolitical realities and the increasing prevalence of conflicts. Armed conflicts present challenges such as instability, security risks, supply chain disruptions, and demand shifts. These lead to uncertainty, necessitating flexibility, rapid response, and adaptation to new conditions. This research aims to develop adaptive strategies for the effective functioning and resilience of businesses in conditions of armed conflict. Research methods include reviewing scientific publications, monographic, graphical, analytical, synthesis and analysis, observation, abstraction, and generalisation. A literature review of publications by scholars from various countries on the research problem has been conducted. An analysis of the business environment in the context of military conflict, using Ukraine as a case study based on personal observations, conversations with entrepreneurs, and the processing of statistical materials, has been carried out. Comparing the Economic Sentiment Indicator before and during the war periods made it possible to identify pessimistic attitudes in business across specific sectors. The regulatory and legal acts adopted by the Ukrainian government to regulate and stimulate business activity have been characterised. Key challenges and risks affecting Ukrainian businesses in the context of military conflict have been identified. Ukraine’s main measures for restoring exports during the war have been outlined. Adaptive risk management strategies in Ukrainian

businesses under military conflict conditions have been developed, with specific measures identified, along with their primary objectives.