Turn calamities into blessings: the impact of resource reconfiguration and firm resilience on the company's recovery and growth in the COVID-19 times
Journal of Organizational Change Management
ISSN: 0953-4814
Article publication date: 1 November 2022
Issue publication date: 10 May 2023
Abstract
Purpose
The purpose of this paper is to construct an integrated theoretical framework of firm resilience, and examine the relationship between resource reconfiguration, firm resilience, disruption impact, profit growth, innovation and environmental uncertainty in the context of COVID-19.
Design/methodology/approach
A survey was distributed to 220 companies and a total of 207 respondents returned the survey. chief executive officer (CEO) and chief financial officer (CFO) of each company participants in the survey. The hypotheses are tested using structural equation modeling (SEM) technique.
Findings
The results showed that firm resilience can be stimulated through the reconstruction of existing resources, and environmental uncertainty played a moderating role in this process; in turn, the improvement of firm resilience enabled companies to reduce the impact of disruptions, achieve profit growth and promote innovation.
Practical implications
This study provides practical implications for how business management shapes firm resilience and promotes organization recovery and development.
Originality/value
This study expands the literature of firm resilience by providing an integrated theoretical framework of firm resilience. Firstly, based on the perspective of dynamic capabilities, this study reveals that resource reconfiguration plays a key role in shaping firm resilience. Secondly, this study enriches the boundary research on firm resilience by incorporating environmental uncertainty into the research framework. Thirdly, this study validates the impact of firm resilience on disruption impact, profit growth and innovation of companies, providing sufficient empirical evidence for the outcomes of firm resilience.
Keywords
Acknowledgements
No conflict of interest exits in the submission of this manuscript, and manuscript is approved by all authors for publication. I would like to declare on behalf of my co-authors that the work described was original research that has not been published previously, and not under consideration for publication elsewhere, in whole or in part. All the authors listed have approved the manuscript that is enclosed.
Competing interests: The author(s) declare none.
Citation
Zhang, S., Sun, Q., Dai, L. and Wang, X. (2023), "Turn calamities into blessings: the impact of resource reconfiguration and firm resilience on the company's recovery and growth in the COVID-19 times", Journal of Organizational Change Management, Vol. 36 No. 2, pp. 257-272. https://doi.org/10.1108/JOCM-04-2022-0115
Publisher
:Emerald Publishing Limited
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