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Book part
Publication date: 3 June 2021

Egemen Sertyesilisik and Begum Sertyesilisik

Resilience of the economy is related with its ability to cope with the challenges (e.g., economic and environmental crises). Economies need to be resilient as countries…

Abstract

Resilience of the economy is related with its ability to cope with the challenges (e.g., economic and environmental crises). Economies need to be resilient as countries having resilient economy can enhance welfare of their people and achieve sustainable development (SD). Total factor productivity can be improved through smart technologies, smart workforce, and innovations. It requires holistic and systematic as well as strategic approach as it is directly related with the SD of the countries and welfare of their people. It is directly related with the policies covering all these main aspects with the long-term, systematic, and holistic view. Resilient economies need to enhance their resilience to keep them resilient despite of the changes which can act as threats in the future. Resilience of the economy necessitates transformation of the manufacturing industry (MI) into the sustainable, smart, circular, and global one. In this way MI's competitiveness can be enhanced. For this reason, based on an in-depth literature review, this chapter aims to examine ways for enhancing resilience of the global economy through smart, circular, and competitive MI. Specific focus is on the policies fostering the transformation of the MI into the sustainable, smart, circular, global, and innovative one. This chapter emphasizes the importance of and need for the productivity-based resilient economy. Policy makers, academics, and researchers in the relevant field can get benefit from this chapter.

Article
Publication date: 9 December 2019

Ismail Gölgeci, Ahmad Arslan, Desislava Dikova and David M. Gligor

The purpose of this paper is to scrutinize the interplay between resilience and agility in explicating the concept of resilient agility and discuss institutional and…

Abstract

Purpose

The purpose of this paper is to scrutinize the interplay between resilience and agility in explicating the concept of resilient agility and discuss institutional and organizational antecedents of resilient agility in volatile economies.

Design/methodology/approach

The authors develop a conceptual framework that offers an original account of underlying means of ambidextrous capabilities for organizational change and behaviors in volatile economies and how firms stay both resilient and agile in such contexts.

Findings

The authors suggest that resilient agility, an ambidextrous capability of sensing and acting on environmental changes nimbly while withstanding unfavorable disruptions, can explain entrepreneurial firms’ survival and prosperity. The authors then address institutional (instability and estrangement) and organizational (entrepreneurial orientation (EO) and bricolage) antecedents of resilient agility in volatile economies.

Originality/value

The authors highlight that unfavorable conditions in volatile economies might have bright sides for firms that can leverage them as entrepreneurial opportunities and propose that firms can achieve increased resilient agility when high levels of institutional instability and estrangement are matched with high levels of EO and bricolage.

Details

Journal of Organizational Change Management, vol. 33 no. 1
Type: Research Article
ISSN: 0953-4814

Keywords

Article
Publication date: 29 December 2021

Sadaf Aman and Stefan Seuring

The Covid-19 pandemic has made it essential to explore the resilience factors specific to developing regions, not only because they pose threats of extreme poverty and…

Abstract

Purpose

The Covid-19 pandemic has made it essential to explore the resilience factors specific to developing regions, not only because they pose threats of extreme poverty and offer a novel context but also because they play an important role in globalisation.

Design/methodology/approach

A mixed-method approach was undertaken to address this novel pandemic situation. First, an open-ended structured questionnaire was developed, and data were collected from three neighbouring emerging economies: Pakistan, India and Iran. Experts' perspectives on vulnerabilities, response measures, resilience and restoration of supply chain activities, and the role of social capital were collected. Second, building upon the findings from phase one of the studies, a quantitative structured questionnaire using the supply chain operational reference (SCOR) model was used to collect data in a structured manner. This quantitative data were further analysed using frequency and contingency analysis.

Findings

The findings from the first phase of the study inductively derive 36 resilience categories. Later, the contingency findings show that supply chain (SC) disruption is a major vulnerability for emerging economies, whereas solutions offered to combat it lay in the reconfiguration of resources, such as financial, technological, human, information and material. Additionally, supply network structure and social capital play an integral part in making SCs resilient against disruption.

Research limitations/implications

The respondents comprise the academics/SC researchers, which make the findings interesting though they lack the industrial experts' perspectives, directly. Nevertheless, the propositions can be tested in industrial settings to see whether the results are limited to a specific industrial setting or are rather generalised.

Practical implications

Similarly, practitioners and policy makers can incorporate the SCOR metrics/factors outlined in this study into their performance measurement systems and ensure continuous monitoring for firm's resilience.

Originality/value

The study offers a holistic understanding of the developing regions' approaches to Covid-19. The paper also takes a social capital perspective to explain firms' resilience in these emerging economies.

Details

The International Journal of Logistics Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0957-4093

Keywords

Content available
Article
Publication date: 16 October 2020

Bedanand Upadhaya, Chaminda Wijethilake, Pawan Adhikari, Kelum Jayasinghe and Thankom Arun

First, the paper examines the short-term fiscal and budgetary responses of the South Asian governments to the COVID-19 pandemic. Next, it brings out the implications of…

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Abstract

Purpose

First, the paper examines the short-term fiscal and budgetary responses of the South Asian governments to the COVID-19 pandemic. Next, it brings out the implications of such responses, focusing on India, Nepal and Sri Lanka.

Design/methodology/approach

The paper is based on multiple secondary data sources, including the viewpoints of experts and government officials. Data are analysed using the ideas of financial resilience.

Findings

South Asian governments' response to the pandemic shows a gap in understanding the magnitude of the problem and in developing financial resilience. This paper points out the importance of avoiding austerity, becoming more cautious in accepting lending conditions, rethinking public sector accountability and revitalising mutual collaboration through SAARC for developing financial resilience, both at individual country and regional levels.

Originality/value

The study offers some insights on policy implications for South Asian governments in terms of building financial resilience to deal with future crises.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 32 no. 5
Type: Research Article
ISSN: 1096-3367

Keywords

Article
Publication date: 27 September 2022

Amany A. El Anshasy and Usman Khalid

This paper critically analyses major shifts in the UAE's public and economic policy, particularly examining the transition from oil dependency to diversification and then…

Abstract

Purpose

This paper critically analyses major shifts in the UAE's public and economic policy, particularly examining the transition from oil dependency to diversification and then to sustainability and resilience. It aims to provide insight into the facilitators, inhibitors and future of sustainable development in the UAE.

Design/methodology/approach

The paper reviews evidence on diversification resistance, the resource trap and sustainable development, and draws attention to the dynamics of policy reform in the UAE, especially after the COVID-19 pandemic.

Findings

The findings of this study indicate that not all patterns of diversification result in sustainable development and resilient economies. The evidence also suggests that achieving sustainable and resilient growth does not necessarily come at the cost of economic prosperity. After decades of extraordinary diversification, the UAE's economic policy has undergone a paradigm shift. Years of fluctuating oil revenues, increasingly globalised markets, environmental obligations and significant recent structural changes in energy markets have paved the way for a new emphasis on sustainable diversification and economic resilience.

Originality/value

The paper provides novel insight on the UAE's transition to a sustainable and resilient economy and contributes to the current public policy debate about the future of economic policies in the UAE on sustainable diversification initiatives and the trade-offs that emerge from embracing sustainable diversification and economic resilience goals.

Details

Management & Sustainability: An Arab Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2752-9819

Keywords

Article
Publication date: 27 April 2022

Pragya Bhawsar

The paper aims to relook at the notion of competitiveness in the challenging times of pandemic. The failure of global value chains caused many nations despite their state…

Abstract

Purpose

The paper aims to relook at the notion of competitiveness in the challenging times of pandemic. The failure of global value chains caused many nations despite their state of economic development to struggle for necessary items. The goal of achieving profitability abated by having self-sufficiency, specifically in the manufacturing sector where unlike services, the production processes jolted. Under this backdrop, the paper attempts to project local industry clusters as a panacea for achieving resilient competitiveness.

Design/methodology/approach

To explore the credibility of clusters as an important tool to prepare nations towards a resilient future, a correlation between the state of cluster development in a country and its national competitiveness has been tested. Besides, any difference in the notion of state of cluster development between least developing countries, developing countries and developed countries has also been tested. The paper uses the data from World Economic Forum’s Global Competitiveness Report.

Findings

Strong support for the research hypothesis has been found. High positive correlation exists between the state of cluster development and national competitiveness. The state of cluster development is found to be significantly different among three categories of countries.

Originality/value

Clusters have been promoted in academic literature, policy circles and the business community for many advantages. This paper is a novice attempt to showcase these can serve as an instrument to prepare economies for self-sufficiency and a resilient future by performing an objective evaluation.

Details

Competitiveness Review: An International Business Journal , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1059-5422

Keywords

Article
Publication date: 5 October 2020

Chiara Cannavale, Iman Zohoorian Nadali and Anna Esempio

Entrepreneurship, in many low-resilient economies, plays a critical role in overcoming external shocks. Thus, it is crucial in such situation that entrepreneurial firms…

Abstract

Purpose

Entrepreneurship, in many low-resilient economies, plays a critical role in overcoming external shocks. Thus, it is crucial in such situation that entrepreneurial firms can survive and even grow so that the whole economy can benefit from a higher level of resilience. The purpose of this study is to understand how entrepreneurial orientation (EO) brings about firms' performance through the moderating role of CEOs' self-transcendence values in the context of a low-resilient sanctioned economy.

Design/methodology/approach

This is a quantitative research that employs hierarchical regression analysis of a sample of 114 Iranian entrepreneurial firms composed of 62 knowledge-based and 52 creative firms.

Findings

The analysis revealed that in the low-resilient sanctioned economy, Iran, EO-performance link is moderated by the level of CEOs' self-transcendence value, that is, higher level of CEO self-transcendence leads to stronger impact of EO on performance. This moderation is not different in creative sector vs. knowledge-based sector of the economy.

Originality/value

This paper addresses a major gap in the traditional EO-performance relationship which is related to the role of CEO values. Also, the context of Iran's low level of economic resilience adds more novelty to this study, emphasizing on the role of CEO personal values of self-transcendence in times of crisis. The results could also be generalized in many economies now facing the COVID-19 pandemic crisis during which CEOs' self-transcendence values are vitally important in overcoming the difficulties of doing business in such situation.

Details

Journal of Small Business and Enterprise Development, vol. 27 no. 6
Type: Research Article
ISSN: 1462-6004

Keywords

Article
Publication date: 28 December 2021

Somesh Agarwal, Mohit Tyagi and Rajiv Kumar Garg

The catastrophic state of the COVID-19 pandemic outbreak has seized off all the operations along with the globe. It has not only distressed the socio-economic structure of…

Abstract

Purpose

The catastrophic state of the COVID-19 pandemic outbreak has seized off all the operations along with the globe. It has not only distressed the socio-economic structure of the world but also mounted enormous pressure on the governmental bodies to save the lives of the people. Despite this, severe impacts of the same have been observed on the small and medium manufacturing enterprises (SMME) practices, resulting in the economic downturn. The purpose of this study is to facilitate the SMME’s with circular economy (CE) practices to overcome the negative impacts of the COVID-19 outbreak on their supply chain (SC) operations.

Design/methodology/approach

The presented work identified seven critical impacts as criteria of the novel COVID-19 pandemic on the Indian SMME and seeks to identify the relief measures in the CE paradigm by identifying 13 prominent enablers to CE as alternatives. Experts’ opinions have been engaged to detect CE enablers’ proficiency to overpower the pandemic impact through a questionnaire-based survey. The obtained data have been clustered and analyzed through a hybrid approach of entropy weight method and grey relational analysis to find an organized ranking of the enablers.

Findings

Current work spotlights the SMME’s losses due to SC disruptions and declined consumption patterns. The waste augmentation during the pandemic era has also been grouped in this study, primarily associating with the SC’s waste generation. The result of the performed analysis shows that the CE enabler “waste reduction and its transformation into a resource (E1)” have achieved the highest rank among all the considered enablers, governing a higher demand toward reusing waste for better handling the post COVID era state of affairs.

Originality/value

The presented study aimed to suppress the pandemic impact and generate anticipation of the CE concept, which might help the managers and policymakers identify its urgent need to achieve a stable and resilient SC system in a post COVID period. Presented work is peculiar, aiming to accelerate the CE adaption with green material usage in the industrial sector to suppress the present miserable condition and to achieve industrial and social sustainability for a better-foreseen future.

Expert briefing
Publication date: 28 October 2015

Foreign investment in local government bond markets.

Article
Publication date: 23 March 2022

Aimilia Protogerou, Alexandra Kontolaimou and Yannis Caloghirou

This paper aims to identify firm and entrepreneurial team characteristics that may contribute to resilience in the creative industries (CI) under adverse economic conditions.

Abstract

Purpose

This paper aims to identify firm and entrepreneurial team characteristics that may contribute to resilience in the creative industries (CI) under adverse economic conditions.

Design/methodology/approach

It provides case study evidence based on 19 in-depth interviews with small and young creative enterprises in Greece in 2014 that is at the peak of the Greek economic crisis. New information was collected from two follow-up waves conducted in 2017 and during the recent coronavirus disease 2019 (COVID-19) pandemic crisis.

Findings

The results suggest that highly internationalized entrepreneurial teams with extensive working and studying experience abroad, which also combine creative expertise with managerial and marketing expertise, are key resilience drivers during economic downturns. Moreover, being export-oriented, serving a diverse customer base and investing in digital technologies seem to allow CI firms to effectively adapt to challenging conditions.

Originality/value

This study adds to the firm-level research on the resilience drivers of small and young enterprises in the CI context. It proposes and empirically tests a conceptual framework to advance the limited knowledge on entrepreneurship and resilience patterns in the CI during crisis periods, emphasizing specific entrepreneurial team and firm characteristics.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 28 no. 4
Type: Research Article
ISSN: 1355-2554

Keywords

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