Firm Governance and Organizational Resiliency in a Crisis Context: A Case Study of a Small Research-based Venture Enterprise

Very small companies that are derived from research projects face numerous crises throughout their lifetimes. These crises are presented in the literature as negative setback situations for the growth of these companies. However, some recent studies emphasize the role that a crisis can play as an agent of change by undergoing a thorough analysis of what transpired and proposing new avenues to avoid repeating such errors. This new approach to crisis management suggests that the crisis period be considered as an outstanding opportunity to learn, along with organizational resilience. Our study is part of this new approach towards crisis management and seeks to study the impact of crisis management on the resiliency of very small research-based company. The results show that a process of learning and resiliency transpires during the post-crisis period and represents three types of governance: financial, managerial and strategic.