Theoretical Exploration of the Organizational Resilience Factors of the Family-Owned SMEs during the COVID-19 Crisis

Abstract

In a volatile and changing context shaped by the succession of economic, social and health crises, etc., the resilience of organizations and companies is a key issue for managers and decision-makers. The family business (FB) is the most dominant form of entrepreneurial activity in economies over the world. They represent 60 to 90% of all businesses worldwide, taking many forms such as: Very Small Enterprises (VSE), Small Enterprises (SE), medium-sized enterprises (SMEs), and Large Enterprises. The main objective of our study is to explore theoretically the phenomenon of organizational resilience of FBs especially in this context of Covid-19 crisis. To this end, our research question is formulated as follows: To what extent the family firms are resilient during the Covid-19 crisis? The adoption of dynamic capabilities theory and the analysis of a rich and diverse literature review allow us to explore the antecedents of organizational resilience in the FB context. Therefore, this theoretical exploration reveals; agility, strategic behavior, and internal resources and organizational capabilities as antecedents of the family businesses resilience.