Managing the firm as a resilient body. Possible reactions to economic crises
Abstract
This paper proposes a reflection on the management criteria and organizational models that firms should adopt to respond – effectively and responsibly – to the rapid scenario changes spurred by sudden shocks, thus proving the ability to dominate them.
This explains why firms can be considered resilient organisms.
Particularly, the paper focuses on the concepts of light and flexible firm, specifying the elastic and plastic characterization of the latter as different features that firms may take to respond to possible changes in the scenario.
The paper highlights that the characterization that firms can take is the result of a mix of factors, namely: a) the intensity and duration of external stresses; b) the ability to understand the “signs of the times” and to adopt innovative initiatives regarding the assets structure and management criteria to respond to external stresses; c) adequate financial resources to support strategic and operational decisions that ensure the firm survival; d) professional skills and adaptability to the changed operational situations of people making up the firm’s community.
Regardless of the initiatives that managers can and aim to adopt to respond to changes in the external environment, the underlying goal is the survival and development over the time of the firm, which represents a common good for a multiplicity of stakeholders.
Keywords: Corporate policy, Corporate governance, Entrepreneurial values, Lean organization, Flexible organization
