Abstract
Amidst the global COVID-19 pandemic, the term resilience has gained significant momentum in global news and management studies. Although scholars from different domains have investigated resilience, there is a need to provide clarity on its definitions and assessment (Anderson, 2015). This paper provides a conceptual review on resilience and explores business resilience as a framework to guide sustainability strategy by mitigating social and environmental risks. The study contributes to the literature on resilience and tabulates the key definitions of business resilience covered in a sample of 80 peer-reviewed articles and books (Hillmann & Guenther, 2021; McKnight & Linnenluecke, 2017). We challenge the existing literature on adaptive capacity models that are short in anticipating unprecedented operational disruptions. To build business resilience we argue for the adoption of the Sustainable Development Goals (SDGs). Given their strategic outlook until 2030, the SDGs offer a framework for corporate sustainability that helps decision-makers within organizations identify social and environmental risks and establish business strategies that build resilience and meet the expectations of a firm’s diverse stakeholders
Highlights
Resilience originates from the word ―resilio‖, which means ―to bounce back‖ in Latin (Alexander, 2013)
To build business resilience we argue for the adoption of the Sustainable Development Goals (SDGs)
We argue that existing adaptive business models that call for economic efficiency do not prepare businesses for unprecedented operational disruptions (Burnard & Bhamra, 2011)
Summary
Resilience originates from the word ―resilio‖, which means ―to bounce back‖ in Latin (Alexander, 2013). It is a multifaceted and multidisciplinary concept that has been used across a wide range of complex fields and systems (Alexander, 2013; Burnard & Bhamra, 2011; Ponomarov & Holcomb, 2009). With the adoption of the term as a centerpiece of the United Nations (UN) Agenda 2030 for Sustainable Development (UN-SD), it is important to understand how the concept of resilience can advance the adoption and achievement of Sustainable Development Goals (SDGs). We explore how the Sustainable Development Goals (SDGs) can provide a framework to underpin business resilience
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