Resilience in Business

11 Pages Posted: 30 May 2017

See all articles by Morela Hernandez

Morela Hernandez

University of Virginia - Darden School of Business

Rebecca Goldberg

University of Virginia - Darden School of Business

Megan Hess

Washington and Lee University; University of Virginia - Darden School of Business

Abstract

What is resilience, and how is a company's resilience measured? Scholars define organizational resilience as the ability to not only survive a hardship, but also to emerge stronger and better prepared to face new challenges in the future. All businesses experience adversity, but relatively few are able to transform these experiences into a catalyst for growth. Members of resilient organizations are also hopeful and confident in their abilities to cope with hardship and view challenges as opportunities to make their organizations better. This case includes the stories of four Virginia companies that employed different strategies for overcoming difficult situations, as told by the current leaders of these businesses. Taken together, these stories provide a range of examples of different approaches to leading through and learning from adversity.

Excerpt

UVA-OB-1080

Rev. Dec. 22, 2015

Resilience in Business

What is resilience, and how is a company's resilience measured: By how long it has been in business, or by the severity of the obstacles it has had to overcome? By the strength of its balance sheet, or by the flexibility of its operational structures?

Scholars define organizational resilience as the ability not only to survive a hardship, but to emerge stronger and better prepared to face new challenges in the future. All businesses experience adversity, but relatively few are able to harness those experiences as catalysts for growth. Members of these resilient organizations are hopeful and confident in their ability to cope with hardship, and view challenges as opportunities to make their organizations better.

This case includes the stories of four Virginia companies that deployed different strategies for overcoming difficult situations, as told by their current leaders. These leaders were interviewed in 2015, but their stories extend back much further, showcasing a range of approaches to leading through—and learning from—adversity.

. . .

Keywords: resilience, hardship, overcoming adversity, strength, leadership, Virginia business, family business, challenge, bookstore, lumber, food production, supermarket, grocer

Suggested Citation

Hernandez, Morela and Goldberg, Rebecca and Hess, Megan, Resilience in Business. Darden Case No. UVA-OB-1080. Available at SSRN: https://ssrn.com/abstract=2974845

Morela Hernandez (Contact Author)

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States
+1-434-924-4917 (Phone)

HOME PAGE: https://www.darden.virginia.edu/faculty-research/directory/morela-hernandez/

Rebecca Goldberg

University of Virginia - Darden School of Business

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

Megan Hess

Washington and Lee University ( email )

Lexington, VA 24450
United States

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

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