Toward A Business Resilience Framework for Startups

Abstract

Covid‐19 has had a significant impact on the disruption of the global economic sector, including for startup businesses. This encourages entrepreneurs to carry out a continuous innovation process to become more ambidextrous and continue to innovate in an effort to futureproof their business. The paper aims to provide a business resilience framework by exploring capability (innovation ambidexterity, dynamic capability, and technology capability), behavior (agile leadership), and knowledge (knowledge stock) in startup businesses. This study uses a literature review synthesis to gain a greater understanding of startup resilience and its implementation. This study also uses a case study approach in building a framework by obtaining data from semi‐structured interviews with three startups owners in Indonesia. This preliminary research has identified four propositions that will be used to develop questionnaires and data collection instruments. Thus, this study provides new insights on how startups can overcome contradictory pressures for business resilience in anticipating, dealing with, and emerging from business turbulence due to the Covid‐19 pandemic by considering the factors proposed in this study. The implications and recommendations of this study are also discussed in detail.