Mastering Crisis With Technology in Family‐Owned Enterprises: The Roles of Risk Awareness, Crisis Severity, and Resource Availability

This study draws on the Resource‐Based View (RBV) and Contingency Theory to examine how crisis severity and resource availability moderate the relationship between technological preparedness and crisis management in family‐owned enterprises (FOEs) in Ghana. It also explores the mediating role of risk awareness in this relationship. A time‐lagged explanatory design was used, with data collected in two waves from 319 FOE owners and managers through convenience sampling. Hayes' PROCESS macro was applied to test both mediation and moderation effects. The results reveal that risk awareness partially mediates the positive influence of technological preparedness on crisis management. Additionally, both crisis severity and resource availability significantly moderate the direct and indirect effects of technological preparedness on crisis outcomes. Findings suggest investing in digital infrastructure and fostering risk awareness in FOEs. Crisis strategies aligned with situational severity and resource levels can enhance resilience. Integrating RBV and Contingency Theory, the study provides insights into how internal capabilities and contextual factors interact in crisis responses. It contributes to the crisis management literature by highlighting how FOEs in emerging economies can strengthen their preparedness and adaptability in uncertain environments.