Entrepreneurial Resilience: A Path to Sustainable Business Success
DOI:
https://doi.org/10.51137/wrp.ijarbm.325Keywords:
Business Sustainability, Dynamic Capabilities, Entrepreneurial Resilience, Organizational Learning, Resource OptimizationAbstract
Resilient entrepreneurs adapt to challenges by leveraging psychological and organizational strengths to navigate crises. However, the complexity of resilience necessitates a structured approach that incorporates cognitive adaptability, emotional regulation, and organizational learning mechanisms. This study investigates the psychological and organizational factors that impact entrepreneurial resilience, with the aim of developing an integrated entrepreneurial resilience ecosystem (ERE) model in South Africa. The study employs secondary data grounded in Dynamic Capabilities Theory and Social Cognitive Theory, providing a multidimensional perspective on entrepreneurial resilience. The findings indicate that entrepreneurs who merge psychological resilience with structured organizational mechanisms are more likely to sustain their businesses during crises. The study presents an integrated resilience framework that offers valuable insights for entrepreneurs, educators, and policymakers to minimize business risk. This could promote entrepreneurial resilience through structured interventions, enabling businesses to enhance their long-term sustainability and adaptability in volatile environments. The study recommends entrepreneurial training programs that focus on resilience-building strategies and policy interventions to enhance access to resources and structured learning mechanisms. The study concludes that entrepreneurs can effectively navigate uncertainties and enhance long-term success by promoting cognitive adaptability, emotional regulation, and structured learning mechanisms.
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