Developing a Conceptual Framework for SMEs' Resilience Using Effectuation Theory

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Developing a Conceptual Framework for SMEs' Resilience Using Effectuation Theory

Institution where project manager will implement the project: Faculty of Economics and Business in Osijek

Project manager: Prof. Nataša Šarlija, PhD (natasa.sarlija@efos.hr)

Researchers: Prof. Slavica Singer, PhD (Faculty of Economics and Business in Osijek), Assist. Prof. Dražen Novaković, PhD (Faculty of Economics and Business in Osijek), Prof. Mirta Benšić, PhD (Faculty of Applied Mathematics and Informatics), Prof. Saras Sarasvathy, PhD (University of Virginia, Darden Graduate School of Business), Lucia Walsh, PhD (Technological University Dublin, Ireland), Cesare Riillo, PhD (National Institute of Statistical and Economic Studies of Luxembourg), Charles Plant, PhD (The Narwhal Project at Q3 Research Inc., Canada), Auwal Isah (Bayero University, Nigeria)

Project identifier: IP-2025-02-2518

Project duration (in months): 36

The project is financed by the Croatian Science Foundation.

 

Link to CroRIS site

The purpose of this research project is to investigate the resilience of small and medium-sized enterprises.

Resilience in the context of the entrepreneurial activities of small and medium-sized enterprises has only recently begun to be studied more intensively. Very often, the term ‘resilience’ is used in articles to denote a wide range of concepts—success, survival, persistence, optimism. The diversity of perspectives and approaches in resilience research demonstrates the complexity of this term; however, the challenge lies in the lack of consensus regarding the definition of entrepreneurial resilience.

The concept of ‘resilience’ was first used in the context of entrepreneurial resilience by Meyer in 1982, who identified it as an adaptive organisational response to external threats (as cited in Wishart, 2018). Since then, the focus of researchers has expanded to include the investigation of both external and internal organisational threats (Linnenluecke, 2017), and more recently, various factors influencing resilience have been explored.

The objectives of this project are:
(i) To conduct a theoretical analysis of the resilience of small and medium-sized enterprises in an economic context, with a particular emphasis on effectuation theory, and to develop a methodological framework for empirical research;
(ii) To empirically investigate and analyse the factors of resilience in small and medium-sized enterprises and their interconnectedness through repeated measurements in two time waves, with the aim of identifying changes and trends;
(iii) To develop a conceptual framework for the resilience of small and medium-sized enterprises based on effectuation, as well as models for assessing the resilience of small and medium-sized enterprises.
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