ABSTRACT 3
INTRODUCTION 6
The Importance of Strategic Resilience 6
Research gap 7
The Contributions of this Research 8
Research Question 8
Goal and Objectives 8
Thesis Structure 8
CHAPTER 1. THEORETICAL RESEARCH ON THE STRATEGIC RESILIENCE 10
1.1 Resource-based theory 10
1.2 Planning and Operation in a Turbulent Environment 11
1.3 Concept of Resilience 12
1.4 Resilience, Sustainability, and Vulnerability 16
1.5 Models of organizational Resilience 16
1.6 OrgRes: the ‘Resilience Benchmark Tool’ 18
1.7 Dimension of CSR Matters to Organizational Resilience 20
1.8 Identifying Indicators of Strategic Resilience 21
CHAPTER 2. DETERMINANTS OF STRATEGIC RESILIENCE DURING CRISIS: EMPIRICAL
EVIDENCE OF RUSSIAN COMPANIES 24
2.1 Methods of research 24
2.2 Operationalisation and Data Collection 26
2.3 Calibration of Outcome Variable and Causal Conditions 29
CHAPTER 3. INTERPRETATION AND DISCUSSION RESULTS 31
3.1 Results of analysis 31
3.2 Research Findings and Discuss results 32
3.3 Theoretical Contribution 33
3.4 Practical Contribution 33
CONCLUSION 34
REFERENCES 35
APPENDIX 47
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)
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.
