Small and Medium Enterprises' Resilience and Viability in Turbulent Times

Adaptability and resilience capabilities are crucial for navigating competitive and turbulent business environments. Businesses have been exposed to major disruptions and unprecedented challenges in recent years, such as the armed conflicts in Syria and Ukraine, the global financial crisis in 2008, the 2016 Brexit referendum, and the COVID-19 pandemic. According to the OECD, the COVID-19 pandemic triggered the most severe economic recession in decades, resulting in a significant decline in GDP growth. How can SMEs best manage the increasingly complex business environment and in our new volatile, uncertain, complex and ambiguous (VUCA) times?