The Radial Cycle of Resilience. Adaptation of The Concept in Economic Recession on Selected Examples

Abstract:

The direct inspiration to write the article were signs of the economic crisis that appeared along with the COVID-19 coronavirus pandemic. Many economic recessions in the modern world are predictable. The repeatability of threats and the real likelihood of subsequent ones justify the need for proper preparation of enterprises. Therefore, research was undertaken to develop a methodical basis for formulating a model of resilience, which can be used in the sector of small and medium-sized enterprises in Poland in economic recession. The research hypothesis was formulated as follows: The level of preparation of small and medium-sized enterprises in Poland for functioning in economic recession is insufficient and requires adjustment. The following research methods and techniques will be used to verify the hypothesis and achieve the purpose of the research: induction and deduction method, criticism of the studied problem in the aspect of previous scientific achievements by analysing the literature on the subject and the multiple case study method based on in-depth interview technique (IDI). The result of the research is a contribution to the development of resilience theory and the creation of a proprietary concept based on the radial cycle of resilience. The proposed reference model of the enterprise is based on three elements: resistance, flexibility, strategic revitalization. It gives the opportunity to apply in economic practice in economic recession.