Building strong business relations resilience in family-run firms

One significant development of all this is the growing importance that is attached to resilience. It is widely purported that sustainability becomes likelier when a firm is resilient in different ways.

The literature confirms that resilience is variously defined. Certain definitions are founded on the idea of adjusting to new situations as they emerge. Transformation in this view is deemed as an “adaptive cycle” that enables growth. For others, resilience is more about capacity to resist turbulence and retain or return to the original form.

This idea of reorganization in the face of change has also been forwarded from a...