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Is this Time Different? Corporate Resilience in the Age of Covid-19

Author

Listed:
  • Jacques Bughin
  • Sybille Berjoan
  • Francis Hinterman
  • Yuhui Xiong

Abstract

We study corporate resilience during the Covid-19 pandemic for a sample of 4100 large global firms (mode: 1-10 billion USD revenue) using a large set of machine learning techniques. As per Hamel and Valikangas (2003), we find that both traits of innovations, as well as of organizational agility (Teece et al. 2016), drive the firm's post-Covid rebound. Remarkably, the Covid-19 pandemic is also exhibiting two extra traits among covid-19 resilient firms: they are consolidating their play in business ecosystems, while they are engaged in a “twin transformation” of digitization and sustainability. In general, also the way corporations play those traits matters, i.e. orchestrating the business ecosystems, engaging in disruptive (as opposed to incremental) innovation, and transforming at scale to boost resilience. Finally, there is a large complementarity among “resilience” traits, boosting the probability of resilience by close to 40% versus the sum of only the direct effects.JEL-codes: L25, M15, M21, 033, I101. Introduction

Suggested Citation

  • Jacques Bughin & Sybille Berjoan & Francis Hinterman & Yuhui Xiong, 2021. "Is this Time Different? Corporate Resilience in the Age of Covid-19," Working Papers TIMES² 2021-046, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:ict:wpaper:2013/325266
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    References listed on IDEAS

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    Cited by:

    1. Jacques Bughin & Francis Hinterman & Sybille Berjoan, 2022. "A Good Crisis (not) Wasted: How Exploiting and Expanding Dynamic Capabilities Shape Corporate Performance During the Covid Pandemic," Working Papers TIMES² WP2022-051, ULB -- Universite Libre de Bruxelles.

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    More about this item

    Keywords

    corporate; resilience; covid-19;
    All these keywords.

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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