Abstract
The detrimental transboundary effect of COVID-19 exhibits an unprecedented circumstance for organizational resilience. This paper analyzes the impact of COVID-19 on small businesses (SBs) worldwide towards developing a strategic resilience framework. This framework enables the development of resilient strategies that SBs can utilize to survive and sustain their livelihood post-Covid-19. It is profoundly challenging to cope with the consequences of a devastating global pandemic with enormous negative economic side-effects and survive given reduced income, jobs lost, etc. Studies show that due to small businesses’ inherent nature, they need to set their strategies to adapt according to their knowledge of the known threats and weaknesses brought about by earlier projections of similar threatening situations. According to Weick and Sutcliffe, unexpected events usually put the level of a company’s resilience to the test. Resilience is a process in which businesses continuously strive to envision and respond appropriately to external threats. This paper utilizes different models, such as Meyer’s Model, PESTEL, and Comprehensive Organizational Model to discuss the process of adaptations to market shocks. This adaptation methodology consists of different phases of anticipatory, responsive, and rehabilitative, leading to organizational resilience. A conceptual framework is proposed through a qualitative analysis of existing academic literature concerning strategic resilience for small businesses facing environmental jolts such as COVID-19. By developing the proposed strategic resilience framework, other methods and theories, including the adaptability of small and medium organizations, are addressed.
Presenters
Zahra Gorjian KhanzadCIO, IT/Academic, California Miramar University, California, United States Ali Gooyabadi
Chief Academic Officer, Academic, California Miramar University, California, United States
Details
Presentation Type
Paper Presentation in a Themed Session
Theme
2022 Special Focus—Rethinking Organizational Resilience: Shared Meanings in Turbulent Times
KEYWORDS
COVID-19, SMALL BUSINESSES, ORGANIZATIONAL RESILIENCE, CORPORATE/PERSONAL CULTURE
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