Resilience, a term that comes from clinical and positive psychology, plays a crucial role for entrepreneurs who often want to succeed in unpredictable business environments. People with high resilience recognise reality as it is, have strong values and are convinced of the meaningfulness of life. This enables them to improvise creatively, take risks and meet challenges head on.
Fred Luthans defines resilience in the context of Psychological Capital (PsyCap) as the positive psychological ability to bounce back from or even move beyond adversity, uncertainty, conflict, failure or even positive change, progress and increased responsibilities (Luthans, 2002). Interestingly, studies show that people who have experienced failure often emerge stronger from the experience and achieve a higher level of personal development.
For entrepreneurs, resilience therefore not only means the ability to overcome setbacks, but also to learn from them and develop further. This is particularly critical in phases when quick action and adaptability are required.
Resources
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Luthans Fred (2002): The need for and meaning of positive organizational behavior. Journal of Organizational Behavior 23(6):695-706.
Last updated on 3/12/2025.
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