Crisis Management And Adaptive Strategies For Navigating Unforeseen Challenges – Does the financial industry have cross-border effects on permanent productivity? Concepts of Cash Holdings and Technical Innovation

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Crisis Management And Adaptive Strategies For Navigating Unforeseen Challenges

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Strategies For Business Resilience After Covid 19

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Coping Strategies Patterns To Buffer The Psychological Impact Of The State Of Emergency In Spain During The Covid 19 Pandemic’s Early Months

By Antonio Miceli Antonio Miceli Scilit Preprints.org Google Scholar 1 , Birgit Hagen Birgit Hagen Scilit Preprints.org Google Scholar 1 , Maria Pia Riccardi Maria Pia Riccardi Scilit Preprints.org Google Scholar 1, 2 , Francesco Sotti Francesco Sotti Scilit Preprints.org Google Scholar 1 and Davide Settembre-Blundo Davide Settembre-Blundo Scilit Preprints.org Google Scholar 1, 3, *

Received: January 27, 2021 / Revised: February 7, 2021 / Accepted: February 9, 2021 / Published: February 14, 2021

Today, the words for organizations that must be prepared for competitive challenges are sustainability, digitalization, resilience and agility. However, despite the use of these concepts by both scholars and practitioners, the nature of the relationship between stability and resilience has not been sufficiently clarified. In particular, there is still no evidence as to which factors determine the greatest resilience to change in an organization seeking to become more stable, especially during times of crisis and disruption. This research aims to analyze from a theoretical point of view, through the construction of a conceptual model, how these dimensions work together so that the business can deal with the strategy, using digital and technology as facilitators. From the study emerges a new concept of resilience that goes beyond the familiar ability to absorb or adapt to adversity, to incorporate a strategic feature that can help companies seize opportunities associated with change to create new ways of doing business under pressure. A key set of agile processes, enabled by digitization, creates strategic reinforcement and includes a proactive approach to opportunities when there are changes. The development of the capacity to bring the organization to sustainability must be understood as a multi-domain concept, which is the same as the general concept of sustainability: environment, economy and society. Finally, the research provides a set of propositions and a theoretical framework that can be empirically validated.

Chapter 13: Europe

In order for organizations to better adapt to changes, they need some important characteristics, and today the buzzwords are: sustainability, digitization, resilience and simplicity. In today’s dynamic and interconnected world, organizations must be able to cope and thrive in the face of adversity and change. Changes can be permanent or transitory, incremental or drastic, expected or unexpected, reversible or irreversible, and can come with different forces and degrees. This highlights the many levels of complexity and change characteristics [1] that impact the development and implementation of effective business strategies and solutions. In addition to disruption of opportunities and continuous change, radical change, stagnation, problems or “breaks” will be important and frequent, all of which have a significant impact on organizational performance [2]. The COVID-19 pandemic is the most recent and dramatic example of a global crisis that has highlighted the large implications of the challenges of change in a short period of time and the need for effective and efficient responses [3].

The crisis that has arisen worldwide after the spread of the COVID-19 epidemic has highlighted the importance of sustainability, not only from a health and social perspective, but also from an economic and environmental perspective [4]. Furthermore, the health emergency caused a crisis both on the supply side (closure of supply chains, factory closures, severe decline in employment) and on the demand side, with a drop in household consumption and business investment [5]. Economic growth was therefore suddenly interrupted by the epidemic, as well as from the perspective of sustainable development defined by the 2030 Agenda, putting an end to years of efforts by countries and the international community to progress socially. of their population [6]. It is therefore clear that future growth and development policies cannot ignore the ability of communities, organizations and individuals to cope with the difficult and unpredictable risks and events that they often face. This attitude is known as resilience and the health crisis related to COVID-19 has shown how it is linked to environmental and socio-economic sustainability. The nature and mechanisms of the relationship between resilience and stability have not been adequately investigated [7, 8].

Companies and organizations have also shown that they are not prepared for the health emergency represented by the COVID-19 coronavirus pandemic [9]. This importance has emphasized the need to develop the ability to quickly adapt to change, to quickly implement effective actions in response to the current situation [10]. In particular, companies must be prepared to deal with the potential long-term impact on employment, the supply chain and the economy as a whole and, of course, the well-being of workers from a global pandemic. Companies should take this important opportunity to review their strategies and strategies to respond to this problem, to prepare well for the potential impact of the pandemic, increasing the ability to innovate to make companies more resilient [11].

The Missing Risks Of Climate Change

The word resilience is widely used in the context of the coronavirus emergency. Among the most persistent narratives is that a resilient economy will emerge better from the crisis or that resilience is needed for a new beginning. While governments and organizations talk about sustainability in order to build or maintain it, it is not always clear what the true meaning of the term is [12]. The word itself indicates the system’s ability to withstand any disturbance, adjust its response and return to normal operation. However, stability should not be confused with resistance to change, as partial changes of parts are allowed. This ability comes mainly from the internal characteristics of each system, which allow them to effectively overcome difficult situations [13]. Specifically, with regard to the organization, knowledge, the ability to respond to changes, openness, the availability of sufficient resources, flexibility and a wide network of relationships allow the organization to be dynamic [14].

Although resilience has been a key concept that has received more scholarly attention in the last two decades in various research fields [15], it has nevertheless been theoretically understood in various ways, with various definitions, methods, theories and interpretations [15]. 16]. The orientation of researchers has focused on the meaning of the concept of resilience as the power of “absorption” or “adaptation”, adopting common definitions used in systemic and evolutionary theory [17]. What is missing from the body of research, however, is a theoretical discussion about the factors that make organizations more resilient, therefore able to deal successfully with change [18]. Likewise, there is a lack of theoretical analysis of how resilient organizations prepare and respond to change in a sustainable way [19].

Based on what has been said, this study at least aims to investigate the factors that identify the resilience of the organization [20], as well as linking it to other different capacities or resources, such as technological innovation or digitalization [21]. Second, it aims to fill conceptual gaps, explaining the relationship between resilience and sustainability, creating a framework that re-examines and maps the ways of building in an organization.

Enterprise Risk Management (erm): What Is It And How It Works

The approach followed in this study is an exploratory conceptual research to fill the theoretical gaps highlighted in the previous section. This approach has been widely used in theoretical research in the organizational field [22, 23]. Through a critical literature review, existing knowledge on the relationship between resilience and sustainability in the management system has been identified to develop a conceptual model. The analysis of the literature was carried out through a bibliographic search of articles written in English and published in the Scopus database and the Google Scholar database. Key words and terms used in the research are: “resilience”, “sustainability”, “digital”

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