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To what extent do aspects of sustainability impact established firms' resilience: A comparative case study of the luxury watchmaking industry in Switzerland
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An organizations´ level of sustainability has so far been primarily been analyzed
within the context of economic performance. This study changes that dependent
variable to “resilience”, namely a company’s ability to recover from potential lethal
shocks or disruptive events. The research questions aims to investigate whether
sustainability and resilience are related. This study utilizes the financial crisis from
2007/08 as disruptive event, as it encompassed market phase-out but also survival by
established firms. Two Swiss luxury watchmaking companies have been chosen as
industry sample and the study’s investigation is based on a comparative case study
approach. The latter applies both quantitative data, in the form of the respective
annual company reports, and qualitative data, in the form of semi-structured
interviews with three stakeholder groups. Findings indicate that the investigated
measures of sustainability are related the investigated companies’ level of resilience.
These findings contribute to the building of new theory towards resilience as this
study outlines specifically which measures have been proven to be of relevance for
companies’ resilience. Moreover, the results are of high relevance for companies that
are operating in constant evolving markets and struggling adapting to any disruptive
environment as it is outlined why and how comparative companies have to be
sustainable in order to become more resilient towards future shocks.