BUILDING A RESILIENT BUSINESS MODEL: HOW TO USE DYNAMIC CAPABILITIES IN ORDER TO ADAPT TO MARKET SHOCKS

Abstract

One of the biggest challenges for companies is to adapt to new market conditions when the market crisis arrives. The fifth industrial revolution is coming even faster than expected, while many companies are still trying to get back on their feet after the pandemic crisis. So how should companies prepare for, and even mitigate, the rapid changes ahead if they want to maintain their market share and gain competitive advantage in the future? This paper provides an overview of how to build an adaptive and resilient business model that leverages dynamic capabilities and other resources to overcome these market shocks, which often have similar negative consequences for companies regardless of their source. The findings of this paper could be useful for companies (especially small and medium enterprises) to find an appropri-ate strategy and adapt their business models.