Development of Organisational Resilience within SMEs through Implementation of Strategic Thinking

Abstract

The focus of entrepreneurial, strategic and managerial concerns regarding the ensuring of survivability and achievement of successful competitive leverage within, primarily, the turbulent international commercial and business environments, has become concentrated on the development of organisational resilience to withstand the pernicious implications imparted by business discourses by situational complications. The recurrent global financial crises, trigger by divergent and multiplicity of factors, have impinged upon the survivability of business organisations of differential demeanours. The corresponding research endeavour has been oriented towards evaluation of development of constructive response based strategic policies of such SMEs from the organisational resilience angle through determination of the implications of strategic planning and thinking processes which could be employed by such business entities to foment crisis management capacities at the functional and operational domains. Specific research effort has been utilised to demonstrate the characteristics and constituents of the concept of organisational resilience and the influence of strategic management doctrines on such conceptual disciplines. The focal point of the research has been to assessment the empirical evidence regarding achievement of required degrees of organisational resilience, especially by the SMEs. The research undertaking has been cognisant equitably about the inherent deficiencies of SMEs and has involved considerable academic rigour regarding analysis of the prospects of latent opportunities within crisis situations which could be achieved through proficiencies of strategic planning and implementation of the same. The utility of the conducted research has been envisioned as outlining strategic features through which SMEs could ensure organisational resilience-based survivability.