Reaction or anticipation? Resilience in small- and medium-sized enterprises

Purpose Building on the recent capability-based conceptualisation of resilience, this paper aims to explore whether the experience of a previous crisis and entrepreneur resilience are associated with Small- and medium-sized enterprises (SMEs') adoption of different anticipation strategies for adversities. Design/methodology/approach Using original survey data on 959 Italian and German SMEs, the research uses a multinomial logistic regression model in order to test the influence of the prior experience of a crisis and the entrepreneur resilience on the likelihood of adopting different anticipation strategies. Findings The paper shows that the previous experience of a crisis increases the likelihood of regularly adopting proactive but non-formalised anticipation actions while decreasing the likelihood of adopting a pure reactive strategy to adversities; in addition, entrepreneur resilience is nonlinearly associated with anticipation strategies. Originality/value The main originalities rely on eschewing a pure binary view in relation to the organisational choice of adopting a reactive or a proactive approach towards adversities and on considering the entrepreneur resilience as a factor with both “bright” and “dark” side effects in relation to the anticipation of adversities.