Table 1.
Crisis Challenges, Long-term Orientation, and Resilience.
| Pandemic Consequences |
Financial stress | Loss of business | Personnel stress & loss | Operations disruptions |
|---|---|---|---|---|
| Family firm long-term practices |
Continuity: Deep resource investments |
Command: Quick adaptation, innovation |
Community: Superior relations with employees |
Connection: Superior relations with suppliers, etc. |
| Sources of resilience | Financial and resource reserves to survive losses | Superior offerings tailored to crisis | Better talent, staff morale & motivation | Flexible, cooperative stakeholders |