Exploring Factors Impact Organizational Resilience of Vietnamese SMEs
after COVID-19
Ha Thi Thu Nguyen, Huong Dao Thi Lan, Thuy Ha Van, Nga Cao Thi Thu
FPT University, Greenwich VietNam
Hantt194@fe.edu.vn
Huongdtl16@fe.edu.vn
thuyhv@hvpnvn.edu.vn
ngactt@utt.edu.vn
Abstract: The COVID-19 epidemic has significantly impacted global communities, causing
individuals and organizations to adapt quickly to new ways of living and working. This study examines
organizational resilience, culture, structure, and strategy resilience, building upon previous studies'
hypotheses. A quantitative research approach was applied, with surveys conducted in several
Vietnamese small and medium enterprises. The study's findings show that with a Cronbach's Alpha of
0.796 and an R-square of 0.821, the study's model is valid and applicable to various organizations. To
cope with and improve from unexpected severe disasters, it is recommended that other businesses
should reduce costs and develop alternative resource management strategies.
Keywords: Strategic resilience, organizational culture, organizational resilience, organizational
structure, COVID-19
1. Introduction
The COVID-19 pandemic has affected almost every business globally. Many businesses have faced
numerous shocks simultaneously. A new World Bank analysis based on continuing polls with more than
120,000 enterprises in over 60 countries reveals that on average, companies' sales decreased 27% in
October 2020-January 2021 from pre-pandemic levels. This happened after a significant drop of 45%
from April to September. However, the impact has varied greatly across nations and industries. Even
after a year since the start of the crisis, hours worked are still far from pre-crisis levels. In March 2021,
hours worked were still 7% below the level in December 2019, on average, among the ten nations for
which up-to-date hours worked statistics are available (World Bank, 2021). This is a significant
improvement from the crisis bottom reached in Q2 2020 when total hours worked decreased by nearly
15% throughout the OECD (OECD, 2022). In response to COVID-19, businesses have changed their
payrolls and started using technology more effectively. 65% of companies cut back on hours and offered
vacation, which partially succeeded in preventing employee layoffs. Businesses have also started using
social media, the internet, and digital platforms more frequently and invested in new hardware and
software. However, not everyone had access to the same resources. According to the World Bank, less
developed nations and smaller businesses lagged in implementing digital solutions (World Bank, 2021).
Enterprises in Vietnam has significantly impacted by the COVID-19 pandemic, with 87.2% of
businesses reporting "mostly" or "completely negative" effects. Only 2% of respondents recognized a
"positive" impact, while 11% reported "no effect at all." Both domestic private and foreign direct
investment (FDI) firms have struggled to continue their operations over the past year. The impact has
been particularly severe for micro or small-scale businesses operating for less than three years. The
COVID-19 pandemic has affected various industries differently, with some experiencing more
significant effects than others. The manufacturing of electrical equipment (94%), information and
communication services (96%), and textiles and apparel (97%) are among the industries with the highest
percentages of private businesses affected. On the other hand, real estate (100%), information and
communication services (97%), and agriculture/fishery (95%) are the industries with the highest
percentage of FDI businesses affected by the pandemic. It is important to note that the impact of the
COVID-19 epidemic varies significantly between various sub-sectors within each industry (Thi Phi Nga
et al., 2022).
According to the General Statistics Office in Vietnam, the intense outbreak of the fourth COVID-19
wave, strict blockades, and prolonged distancing (especially in the third quarter of 2021) harmed the
economy business area. In 2021, the number of enterprises suspending business for a term was nearly
55,000 enterprises, an increase of 18% compared to the previous year; 48.1 thousand enterprises stopped
operating and waited for dissolution procedures, up 27.8%; 16.7 thousand enterprises completed
dissolution procedures, down 4.1%, of which 14.8 thousand enterprises with capital scale of less than
10 billion dong, down 4%; 211 enterprises with capital scale of over 100 billion VND, down 20.7%. On
average, nearly 10,000 businesses withdraw from the market a month because they cannot "hold" the
cruelty of the COVID-19 pandemic (Vo et al., 2022; Nguyen et al., 2023).
Although there have been many reports and studies on the issue of developing organizational resilience
factors for small businesses in the past (Suryawan et al., 2022; Brown et al., 2022; Verreynne et al.,
2023), more relevant practices for SMEs in Vietnam should be investigated. Therefore, in this study, we
will develop a new conceptual framework that is highly adaptable to changing needs to cope with this
challenging situation by proposing to apply some factors such as structure, strategy, and organizational
culture to recover small businesses in Vietnam. This study also will answer the following questions:
Q1: Does organizational structure help small businesses recover from COVID-19?
Q2: What can small businesses do to be more proactive in responding to similar or possibly
more severe issues in the future strategically?
Q3: Can organizational culture help to recover small businesses after COVID-19?
This study has been divided into 6 sections. The introduction shows the gaps and our purposes when
doing this research. A literature review defined in terms of the research questions and their connections
to supporting data is explained in section 2. The research methodology and research variable coding are
covered in the third section. Fourth is the results. In the fifth part, the author will discuss the factors in
the organization’s recovery, followed by the suggestion, recommendation and conclusion.
2. Literature review
2.1 Organizational Resilience
Resilience refers to a company's ability to create practical solutions to disruptive shocks that may
threaten its existence. It involves a significant shift in the organization's approach and should be linked
to achieving a competitive advantage. Building a resilient organization is a strategic necessity that can
help ensure survival and growth. Resilience is the key to achieving a competitive edge by making
businesses more robust, flexible, agile, and adaptive (Bhardwaj, 2024; Raetze et al., 2021; Alfano et al.,
2023).
2.2 Strategic Resilience
Organizational strategy encompasses the long-term goals, objectives, courses of action, and resource
allocation required to achieve those goals. In for-profit enterprises, strategic resilience can be a key
factor in competitive advantage, as unexpected challenges can undermine it. However, strategic
resilience is equally vital for non-profit organizations, as it reflects their ability to adapt effectively to
threats that may impede realizing their long-term objectives. Strategic resilience isn't reacting to a single
crisis or bouncing back from a difficulty. It includes foreseeing and responding to long-term trends that
may permanently harm the core business's ability to generate revenue. Instead, it has been asserted that
strategic resilience’s results when the organization can quickly convert threatening surprises into
opportunities and identify unique opportunities and act effectively before their competition” (Roumpi,
2023; Yu et al., 2022; Alibašić, 2022).
Businesses have had to pass complex strategic resilience tests due to the COVID-19 pandemic. Leaders
must conduct proactive strategy management when foreseeing disruptive occurrences to prepare their
businesses for adversity. The ability to adapt to adversity and learn from it takes time to develop inside
an organization, as does organizational resilience. A self-learning organization, however, gives
resilience to its strategy. Developing a company's strategy heavily relies on the distinctiveness of its
experience, core strengths, and lessons learned from various situations brought on by changing market
conditions. Some businesses utilize strategic tools that pinpoint the connections between risks and
catastrophic results to increase the chance of success and prevent risks from snowballing into crises.
The basis of such a strategy-making process is scenario planning based on hypothetical future
occurrences and potential repercussions (Yu et al., 2022; Alibašić, 2022).
Hypothesis H1: Strategic Resilience is positively related to Organizational Resilience.
2.3 Organizational Culture
Organizational culture, as viewed from a social constructionist perspective, is important in explaining
organizational identity. This is because the perspective emphasizes sense-making and interpretation,
which are crucial in shaping culturally influenced interpretations of organizational images. An
organization’s culture is its extensive history embodied in the physical aspects or artifacts, such as its
name, products, buildings, logos, and other symbols. This culture encompasses all organization
members, originates and evolves at all hierarchy levels, and is established on the abovementioned
characteristics (Hepfer & Lawrence, 2022; Radic et al., 2022; Sapeciay et al., 2019).
Research shows resilient employees are more engaged, productive, and positive (Yu et al., 2022).
Organizational resilience depends on employee resilience, but a resilient culture is essential for creating
resilient employees. Therefore, building an organizational culture that values trust, accountability, and
adaptability fosters resilience. Employees who work in organizations with resilient cultures are better
equipped to handle environmental shocks, recover from setbacks more quickly, and better understand
how to take care of their physical and emotional well-being. Empowerment is the key to a resilient
organizational culture, and it can take many forms in different companies (Pratama et al., 2023).
Employers must create policies and processes to help employees manage stress and overcome emotional
barriers during difficult times. Swift changes occur unexpectedly under various conditions, such as
during the COVID-19 pandemic, leading to increased economic instability and the introduction of new
technology. These changes all share characteristics like ambiguity and uncertainty, thus requiring the
establishment of a new normal to handle such disasters. Therefore, businesses need inventive, flexible,
adaptable, agile, or resilient leaders and staff, especially small businesses that must develop resilient
organizational cultures. This requires a significant paradigm shift in people’s thinking (Avery &
Bergsteiner, 2011; Pratama et al., 2023).
H2: Organizational Culture has a significant impact on Strategic Resilience.
H3: Organizational Culture has a significant impact on Organizational Structure.
2.4 Organizational Structure
An organizational structure is a framework that specifies how specific tasks are to be carried out to meet
the objectives of an organization. Rules, roles, and obligations may be a part of these activities. How
information is transferred across layers of the organization is likewise governed by its organizational
structure. A centralized structure, for instance, makes choices from the top down, whereas a
decentralized structure distributes decision-making authority across different organizational levels.
Using an organizational structure, companies may stay effective and focused (Verreynne et al., 2023;
Pratama et al., 2023).
Organizations may experience significant changes in their economic strategies during unfavorable
events such as the COVID-19 pandemic (Sapeciay et al., 2019). The market's expectations and needs
shift during a crisis, which can lead to changes in an organization's typical operations and structure. To
ensure business continuity, resilient businesses need skilled managers to oversee company operations
and take responsibility for them (Sapeciay et al., 2019). Organizational resilience is a complex and allencompassing concept. They argue that balancing organizational structures fosters resilience, which
includes risk awareness, adaptation, flexibility, improvisation, and improved teamwork. A balanced
power structure within an organization, coupled with operational normative control, can increase
resistance to unpredictable events. Therefore, organizational resilience traits should be integrated into
organizational processes, with risk awareness being the cornerstone of organizational resilience
(Verreynne et al., 2023; Suryawan et al., 2022).
H4: Organizational Structure pushes the Strategic resilience of the organization
H5: Organizational Structure to help Organizational recovery quickly
2.5 Research Model
Figure 1. Research Model
Hypothesis H1: Strategic Resilience is positively related to Organizational Resilience.
Hypothesis H2: Organizational Culture has a significant impact on Strategic Resilience.
Hypothesis H3: Organizational Culture has a significant impact on Organizational Structure.
Hypothesis H4: Organizational Structure pushes the resilience of the Strategic
Hypothesis H5: Organizational Structure to help Organizational recovery quickly
3. Research Methodology
3.1 Variable coding
The authors used quantitative research methods to approach the topic in this study. This method allows
researchers to collect and process quantitative data from a large sample of study participants.
Quantitative methods help the authors perform detailed analysis, identify trends and relations between
variables, and make accurate analyses and conclusions about the effects of the factors mentioned in the
article. These methods emphasize objective measurements and the statistical, mathematical, or
numerical analysis of data collected through polls, questionnaires, and surveys, and by
manipulating pre-existing statistical data using computational techniques. Quantitative research
focuses on gathering numerical data and generalizing it across groups of people or to explain a
particular phenomenon. It deals in numbers, logic, and an objective stance. Quantitative research
focuses on numeric and unchanging data and detailed, convergent reasoning rather than divergent
reasoning.
Based on criteria related to all industries, the business size is SME, and the geographical location is the
enterprises in the North of Vietnam, with a sample size of 100. Using standardized questionnaires and
digitized variables allows data to be collected from various sources, including online surveys, published
data, and references from relevant businesses. The authors create a questionnaire, use Google Forms to
get the sample, which consists of one page, and then send it to the participants. Then, use this data to
test the hypothesis in the SEM model using the SmartPLS tool. Table 1 below shows the variables and
their coding.
Table 1. Variables coding
Latent variable
Observation
Code
References
SR1
(Sapeciay et al.,
variable
Strategic Resilience
Innovation and
creativity
Developing new
2019); (Radic et al.,
SR2
2022)
strategic ideas
Organizational
Structure
Organizational
Culture
Sales-model changes
SR3
Operation strategy
SR4
Planning strategy
SR5
Leadership
OS1
Staff engagement
OS2
Flexibility
OS3
Substainable
OS4
Community sense
OS5
Emotion connection
OC1
Organizational
OC2
learning
Innovative culture
OC3
Corporate social
OC4
responsibility
(Sapeciay et al., 2019)
(Radic et al., 2022)
Work ethics
OC5
Organizational
Capital structure
OR1
(Morales et al., 2019)
Resilience
Survival Crisis
OR2
(Raetze et al., 2021);
Relationship enhance
OR3
(Duchek, 2020)
Adaptive capacity
OR4
Development
OR5
planning
This study focuses on assessing the relationship between variables and the recovery of enterprises after
fluctuations and changes. To do this, the study authors surveyed with the participation of 332 individuals.
After data correction, 100 samples were used to test the proposed hypotheses. Table 2 shows the
statistics of collected data.
Table 2. Demographic
Demographic variables
Gender
Male
Female
Education level
Others
n
%
48
52
48%
52%
14
14%
Undergraduate
77
77%
Post Graduate
9
9%
Under 25 years old
71
71%
25-40 years old
17
17%
Over 40 years old
Work experience
12
12%
Under 2 years
61
61%
2-5 years
Over 5 years
Position in business
Founder
Director, Deputy Director
19
20
19%
20%
5
2
5%
2%
Management
23
23%
Sale Staff
58
58%
Age
Others
12
12%
Demographic data of the survey samples were also collected and analyzed. The proportion of
men participating in the survey was 48%, while the percentage of women participating was
52%. Individuals' educational attainment was also recorded, with 14% having a bachelor's
degree, 77% having a university degree, and 9% having a graduate degree. The proportion of
people under 25 years old accounts for 71%, 17% are people between 25 and 40 years old, and
those over 40 years old account for 12%. Finally, most of the surveyed people have less than
two years of work experience, accounting for 61%, 19% have 2 to 5 years of work experience,
and 20% have work experience in the field five years.
4. Results
The research model includes 20 observed variables, with two intermediate variables. The dependent
variable is the recovery of the business after the fluctuations. The remaining three independent variables
include the removal of Strategic Resilience, Organizational Structure, and Organizational Culture.
Structural Equation Model (SEM) was used to design and simulate the relationship between the variables
in the study. This can be seen in Figure 2.
Figure 1. SEM model
Multicollinearity occurs when independent variables in a regression or SEM model are highly correlated.
Research results show that 17 variables do not have multicollinearity, but three may have
multicollinearity.
Outer loading coefficients assess the quality and strength of the relationship between observed variables
(indicators) and the latent factors in an SEM model. In this model, no variables have an outer loading
value <0.7. So it is all accepted.
Table 3. Outer loading
OC
OR
OC1
0.834
OC2
0.896
OC3
0.864
OC4
0.852
OC5
0.875
OR1
OS
0.848
SR
OR2
0.882
OR3
0.839
OR4
0.905
OR5
0.86
OS1
0.886
OS2
0.861
OS3
0.845
OS4
0.851
OS5
0.88
SR2
0.904
SR3
0.832
SR4
0.867
SR5
0.885
SR1
0.917
The R-squared (coefficient of determination) is a statistical measure representing the proportion of the
variance in the dependent variable explained by the independent variables in a regression model. In this
case, the values that >= 0.7 are good and considered reliable enough in the model. The R-squared values
of the variables OR, OS, and SR are 0.782, respectively; 0.837 and 0.84 are considered relatively high
and suggest that the independent variables in the model explain a large amount of variance in the
dependent variable. Composite Reliability refers to the degree to which a variable or a set of variables
accurately measures or represents a theoretical construct. Composite Reliability (CR) >= 0.9 is highly
reliable in this study. The results in table 4 show that all variables have high reliability.
Table 4. Reliability
R-square
Average
Composite
Composite
variance
Cronbach's
reliability
reliability
extracted
alpha
(rho_a)
(rho_c)
(AVE)
OC
0.782
0.915
0.916
0.937
0.748
OR
0.837
0.917
0.918
0.938
0.752
0.915
0.916
0.937
0.747
0.928
0.929
0.946
0.777
OS
SR
0.84
In structural equation modeling (SEM), the path coefficients quantify the magnitude and direction of the
direct relationships between variables. They show how the change of the dependent variable is related
to the unit change of the independent variable while the other variables remain constant. Positive
coefficients indicate a positive relationship, while negative coefficients indicate a negative relationship.
Bootstrap is a resampling technique used to estimate the sampling distribution of a statistic where the
path coefficient is present. The results of testing the variables of the model are shown in Table 5 below:
Table 5. Path coefficients
Standard
Support/Reject
deviation
T statistics
(STDEV)
(|O/STDEV|)
P values
OC -> OS
0.032
27.976
0
Support
OC -> SR
0.136
3.003
0.003
Support
OS -> OR
0.117
4.459
0
Support
OS -> SR
0.133
3.976
0
Support
SR -> OR
0.121
3.19
0.001
Support
With the results of hypothesis testing according to the above table, the study accepts the main hypotheses
by p-value <0.05. This means accepting hypotheses H1, H2, H3, H4, and H5.
Hypothesis H1: Strategic Resilience is positively related to Organizational Resilience.
Hypothesis H2: Organizational Culture has a significant impact on Strategic Resilience.
Hypothesis H3: Organizational Culture has a significant impact on Organizational Structure.
Hypothesis H4: Organizational Structure pushes the Strategic resilience of the organization.
Hypothesis H5: Organizational Structure to help Organizational recovery quickly
Specific indirect effects with mediator variables are shown in Table 6. With this p-value, a path is not
accepted: OC -> SR -> OR. It means that there is no impact from organizational culture to strategy
resilience to Organizational resilience.
Table 6. Specific indirect effects
Standard
OC -> OS -> OR
Support/Reject
deviation
T statistics
(STDEV)
(|O/STDEV|)
0.113
4.19
P values
0
OC -> OS -> SR ->
Support
Support
OR
0.055
3.337
0.001
OC -> SR -> OR
0.088
1.791
0.073
Reject
OS -> SR -> OR
0.062
3.287
0.001
Support
OC -> OS -> SR
0.122
3.926
0
Support
5. Discussion and Conclusion
Due to the vulnerability of small enterprises, the COVID-19 epidemic and the ensuing economic
shutdowns have created an unprecedented dilemma for them, compelling each company to re-evaluate
its business plan. Small businesses contribute significantly to the global economy by fostering
technological advancement, boosting employment, and upholding social stability. Small businesses need
to create adequate strategic crisis planning to survive and recover from difficult situations. According
to recent statistics, financial conditions for small and micro-sized businesses have improved in the
second half of 2020 and early 2021 due to governments taking extraordinary steps to minimize the
catastrophic impacts of the COVID-19 pandemic. These approaches include grants and laws that
promote financing to smaller businesses. These initiatives, however, do not address the need for such
economic organizations to have an acceptable level of resilience. Resilience is a strategic goal meant to
help a business survive and grow. As a result, a highly resilient company is more competitive, robust,
adaptable, agile, and flexible. From this vantage point, the suggested technique is a deductive process
that builds a new theoretical or conceptual framework using the body of current literature. This precise
requirement is addressed initially and methodically by our study and the resilience framework that has
been put out. Automation and ecosystem platforms like Amazon or Alibaba are only two of the shocks
that will have a terrible impact on the survival of micro and small companies. A configuration model
capable of distinguishing domains and processes is required to integrate resilience into the small
company ecosystem harmoniously.
This article provides a unified approach to developing organizational resilience-enhancing factors for
post-COVID-19 small businesses in Vietnam. Using the quantitative research method, several findings
were obtained in this study.
Resilience and stable development are strategic issues for SMEs in Vietnam after Covid-19. To
strengthen SME resilience, factors impacting these Vietnamese SMEs should be thoroughly investigated.
This study strategy for evaluating gathered data is scientific and simple to comprehend because it is
based on mathematical concepts and statistical analysis. Respondents to the survey have easy access to
the information thanks to the convenience sampling technique utilized in the research. However, because
sampling error is not considered in this technique, it may not be possible to draw reliable generalizations
about the population from sample data. Additionally, poorly worded survey questions might cause
respondents to view a situation or issue incorrectly, impacting study findings. However, the main
theories still accept that Strategic Resilience, Organizational Structure, Organizational Culture, and
Organizational Resilience of entrepreneurs help with business recovery after COVID-19. However, the
constraints of time and resources limited our ability to comprehensively investigate all potential factors.
This study analyzes the relationship of advanced factors that can improve organizational recovery for
small businesses after COVID-19 in Vietnam. After data collection by surveying over 300 people, the
analyses and data were used with SmartPLS4. The result of that project is that Strategic Resilience,
Organizational Structure, and Organizational Culture significantly impact Organizational Resilience.
With R square = 0.837 and Cronbach's alpha = 0.917, the results show that the research model is reliable
and can be applied to many other organizations. The results of the tested hypotheses show that the
research model is reliable and can be applied in practice in Vietnam, especially in the case of SMEs.
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Competing interests
The authors declare no competing interests.

Data availability
The datasets generated during and analyzed during the current study are available from the
corresponding author upon reasonable request.

Ethical approval
This article does not contain any studies with human participants performed by any of the
authors.

Informed consent
This article does not contain any studies with human participants performed by any of the
authors.