Turn calamities into blessings: the impact of resource reconfiguration and firm resilience on the company's recovery and growth in the COVID-19 times

PurposeThe purpose of this paper is to construct an integrated theoretical framework of firm resilience, and examine the relationship between resource reconfiguration, firm resilience, disruption impact, profit growth, innovation and environmental uncertainty in the context of COVID-19.Design/methodology/approachA survey was distributed to 220 companies and a total of 207 respondents returned the survey. chief executive officer (CEO) and chief financial officer (CFO) of each company participants in the survey. The hypotheses are tested using structural equation modeling (SEM) technique.FindingsThe results showed that firm resilience can be stimulated through the reconstruction of existing resources, and environmental uncertainty played a moderating role in this process;in turn, the improvement of firm resilience enabled companies to reduce the impact of disruptions, achieve profit growth and promote innovation.Practical implicationsThis study provides practical implications for how business management shapes firm resilience and promotes organization recovery and development.Originality/valueThis study expands the literature of firm resilience by providing an integrated theoretical framework of firm resilience. Firstly, based on the perspective of dynamic capabilities, this study reveals that resource reconfiguration plays a key role in shaping firm resilience. Secondly, this study enriches the boundary research on firm resilience by incorporating environmental uncertainty into the research framework. Thirdly, this study validates the impact of firm resilience on disruption impact, profit growth and innovation of companies, providing sufficient empirical evidence for the outcomes of firm resilience.

Food Enterprises- Profit Growth Rate Prediction Based on LSTM from the Perspective of the Supply Chain

Food is the fundamental guarantee of people's lives, and the food industry has always occupied an essential position in the national economy. Profit growth rate, as a measure of an enterprise's development ability, can intuitively reflect the change in operating profit for food enterprises. The accurate prediction of profit growth rate can provide a decision-making reference for enterprises in planning business objectives in the next stage. However, many factors affect the profit variation of a company, and it is hard to make accurate predictions using traditional statistical economics forecasting methods. Since the Long-Short Term Memory (LSTM) model can capture nonlinear relationships in time series analysis, we propose an LSTM-based model to predict the profit growth rate of enterprises by using the operational data of four seasons ahead. Moreover, due to the COVID-19 pandemic, the impact of supply chain integrity on enterprise operations is increasing. We introduce the information of the supply chain owned by the enterprise to predict the profit growth rate of the enterprise. The result of our model exhibits high prediction accuracy, which indicates that our model could provide practical guidance for companies' production and operation activities. © 2022 The authors and IOS Press.