Self-confident entrepreneurs thrive in stable economies, while resilient entrepreneurs thrive in adverse settings
In times of economic stability, entrepreneurs who exude self-confidence are the most likely to thrive. However, when faced with unstable and adverse economic conditions, those entrepreneurs who possess greater resilience are most likely to come out on top, according to new research from Durham University Business School.
The research, conducted by Saadat Saeed, Professor in Management and Marketing at Durham University, alongside colleagues from University of Delaware and DePaul University, surveyed over 1,000 individuals from six countries to investigate the relationships between individual resilience, entrepreneurial self-efficacy and entrepreneurial intention, and compared this to a country’s state fragility – defined as the degree to which state power is unable and/or unwilling to deliver core functions and services to the majority of its people…
Post-pandemic: How to rebuild resilience and trust
The COVID-19 pandemic has had significant impacts across the globe – including on the public perception of how well leaders and institutions can prepare for and respond to risks and shocks.
So, what’s the way forward?
Our Great Reset call on 18 November tackled just this question, looking at restoring confidence in leadership and building a more resilient world after the COVID-19 crisis.
Taking part were:
Ursula von der Leyen, President of the European Commission; Stephanie Kelton, Professor, Stony Brook University; John F. Kerry, Distinguished Fellow for Global Affairs, Yale University; M. Sanjayan, Chief Executive Officer at Conservation International; Arne Sorenson, President and Chief Executive Officer at Marriott International; and Ben Smith, media columnist for the New York Times.
Here’s what they said…
How to make your workplace more resilient in 2021
As businesses and employees continue to grapple with the impact of COVID-19, building workplace resilience has never been more important. With remote working becoming the norm for many, businesses need to reconsider their approach sustaining employee engagement, recognition, productivity and innovation in a virtual world.
What is workplace resilience?
Workplace resilience refers to the ability of an organisation and its people to adapt to change and recover from setbacks. Resilience is essential for employee health and wellbeing as well as the growth and profitability of your business.
Why is workplace resilience important?
Workforce resilience ensures business continuity. While employees are ultimately responsible for their health, employers must appreciate the role they can play as an enabler. Resilience is strongly linked to wellbeing and mental health, so a resilient workforce generally means a happier, healthier one.
A resilient workforce is likely to be agile, proactive, able to deal with change and burnout, and highly motivated. As a result, sickness absence and presenteeism will be less of an issue, staff turnover will be lower and attracting new talent will be easier…