Тема: Determinants of Strategic Resilience during Crisis: The Case of Russian Companies

During the last decade, increased market uncertainty and environmental disasters have shifted the strategic goals of many organizations from a so-called "quest for profits" to "a quest for resilience", focusing the attention of both management scholars and practitioners on the topic of the resilience of firms. “Strategic resilience is not about responding to a one time crisis or rebounding from a setback. It's about continually anticipating and adjusting to deep, secular trends that can permanently impair the earning power of a core business. It's about having the capacity to change even before the case for change becomes obvious.”(Hamel & Valikangas, 2003)
The Importance of Strategic Resilience
Research on strategic resilience is now highly relevant, as companies face an unprecedented level of volatility, uncertainty, complexity, and ambiguity (VUCA) in their business environment. The COVID-19 pandemic, political instability, economic uncertainty, and technological disruptions are just a few examples of the challenges organizations face today. This has made it increasingly important for companies to anticipate and respond to unexpected changes to maintain their competitiveness and viability.
Research on strategic resilience can help companies understand how to identify and manage risks, and how to build the capabilities and resources necessary to anticipate and respond to unexpected changes. It can also help companies understand how to create a culture of resilience within the organization and how to foster a sense of shared purpose and commitment among employees.
It can also help organizations identify the key factors that contribute to the resilience of companies and how to develop strategies to improve those factors. It can also provide insights into how organizations can build resilience through innovation and how to manage the trade-offs between short- and long-term goals.
Furthermore, research on strategic resilience is also relevant for policymakers and regulators, as it can help them understand how to create an environment that supports the resilience of companies and how to develop policies and regulations that encourage organizations to be more resilient. In summary, research on strategic resilience is relevant now, as it can provide valuable insights into how organizations can anticipate and respond to unexpected changes, and how to maintain their competitiveness and viability in a rapidly changing world.
Research gap
Organizations operating in Russia have to deal with significant economic and social challenges, including economic sanctions, volatile financial markets, political instability, and social-environmental risks. The crisis has highlighted the need for companies to be resilient - the ability to withstand, adapt to, and recover from disruptions while continuing to function effectively. The concept of strategic resilience is essential in crisis scenarios, and empirical evidence suggests that building strategic resilience can be an effective response to unpredictable and volatile business environments(Davidson & Vaast, 2010).
As we can see in Figure 1, there has been an intensive growth of publications on this topic recently. Despite the importance of strategic resilience, a review of the academic literature on the subject reveals that there is a research gap when it comes to understanding the determinants of strategic resilience in a Russian context during a crisis scenario. Existing studies have primarily explored strategic resilience in developed countries, while few studies have investigated strategic resilience determinants in emerging markets such as Russia. Therefore, this research aims to identify the determinants of strategic resilience in Russian companies during a crisis scenario to bridge this research gap.
Russia has faced various economic challenges, and its economy has a hi story of experiencing significant volatility, which underscores the urgency and profound significance of studying strategic resilience in the country(Kadochnikov & Fedyunina, 2019). Theoretically, this research study can advance the field of strategic management by providing empirical evidence on the determinants of strategic resilience in a turbulent business environment. The study can also extend the literature on strategic resilience by exploring its applicability in an emerging market context, thereby contributing to the development and refinement of existing theories on strategic resilience.
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In conclusion, this master's thesis has used the fuzzy sets method to identify the determinants of strategic resilience in Russian companies during crises. Based on the analysis, three configurations of determinants have been identified that are associated with a positive outcome for strategic resilience.
The first configuration highlights the importance of a high level of innovation, employee satisfaction, and a company's engagement in ESG activities, in the absence of slack internal resources. The second configuration emphasizes the significance of high levels of innovation and employee satisfaction, along with constant planning and monitoring within the company and engagement in ESG. Finally, the third configuration shows that companies should have available reserves of internal resources, and focus on engagement in ESG activities, while at the same time ensure continuous planning and monitoring. These findings support previous research on strategic resilience during crisis situations.
The results of this study have practical implications for managers in Russian companies. Understanding the determinants associated with strategic resilience can help managers to prepare their organizations for future crises, and to consider the appropriate measures for building resilience in preparation for uncertain situations. For example, companies might develop internal programs focusing specifically on these configurations.
Furthermore, this study contributes to the literature on strategic resilience by identifying configuration of the determinants. The use of fuzzy set method provides a more nuanced and detailed understanding of the interplay between different factors affecting strategic resilience and highlights the differing levels of importance of various determinants of strategic resilience.
Despite the contributions of this study, it is important to acknowledge its limitations. The study is limited in scope to Russian companies, and the findings may not be applicable to companies in other countries or regions. Future studies could address these limitations by exploring the determinants of strategic resilience across a wider range of companies. Additionally, researchers could use alternative methods to provide a more comprehensive understanding of the factors that contribute to strategic resilience during crises.
In conclusion, this study has shown that companies in Russia that have high levels of innovation, employee satisfaction, planning and monitoring, resource utilization, and engagement in ESG activities in specific configurations are better able to build strategic resilience during crises. Further research is needed to provide insight into the optimal balance of these determinants in building strategic resilience for companies.
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