Several mechanisms have been proposed to explain the positive relationship between organizational resilience and innovation. One mechanism is the ability of resilient organizations to adapt to changes in the business environment. organizations that are able to respond to changes in the market or technology are more likely to identify and pursue new opportunities for innovation. Another mechanism is the culture of innovation that is often associated with resilient organizations.
In addition to its impact on innovation, organizational resilience has also been found to be positively related to firm performance. A study by Teece found that resilient organizations were more likely to achieve long-term competitive advantage and sustained profitability. Similarly, a study by Weick and Sutcliffe found that resilient organizations were better able to weather financial crises and maintain high levels of performance.
Author(s) Details:
Lydia Asare-Kyire,
Department of Entrepreneurship and Finance, Kumasi Technical University, Ghana.
Owusu Ackah,
Jayee University College, Ghana.
Charles Akomea Bonsu,
Department of Entrepreneurship and Finance, Kumasi Technical University, Ghana.
William Ansah Appienti,
Department of Entrepreneurship and Finance, Kumasi Technical University, Ghana.