Dynamic capabilities and risk management practices on enterprise resilience among Indonesian state-owned enterprises and their subsidiaries / Purwatiningsih Lisdiono

Businesses face numerous challenges in today's unpredictable, uncertain, complex, and ambiguous interconnected world. These difficulties are projected to increase in frequency and severity in the future. Acquiring and maintaining sustainable competitiveness is getting increasingly difficult. Nonetheless, some firms thrive while others fail. Adverse events frequently have significant implications that worsen if not addressed promptly. Such condition has made resilience a hot topic among businesses and scholars. Enterprise Resilience is a business's capacity to absorb, recover from, and subsequently thrive in the face of adversity. Firms need resilience to survive and compete in the long run. Thus, organizational resilience is a competitive advantage driver. Uncertainty is one of the most significant challenges to the resilience of businesses and organizations, but it may also present an opportunity. Using dynamic capabilities and risk management, companies might deal with uncertainty. Based on the Dynamic Capability Theory, this study examines the impact of dynamic capabilities (Leadership, Information Technology, and Alliance Management) on enterprise resilience among Indonesian state-owned enterprises and their subsidiaries. Dynamic capabilities are envisioned as a source of long-term competitive advantage in times of rapid change. Enterprises reconfigure internal and external resources to create new capabilities to adapt to the changing market environment. Dynamic capabilities are the ability to develop, deploy, and reconfigure resources. Enterprises can recover, embrace new chances, and succeed with these capabilities. Many people and divisions are responsible for risks and their commercial, legal, and economic ramifications despite intricate interdependencies.