This study explores how entrepreneurial firms responded to - and displayed resilience in - coping with the uncertainty generated by an unexpected crisis. We examine how entrepreneurs leveraged slack resources to build organizational resilience and, thanks to their entrepreneurial attitude, could eventually turn adversities into opportunities. Through a multiple case study, four key entrepreneurial responses emerge about the type of slack resources (business or family) and extent of entrepreneurial attitude (favourable or unfavourable) leveraged: “waiting while seeding”, “keeping business as usual”, “striving to resist” and “surfing the pandemic”. Slack resources, both business and family, can enable the absorption of a shock, contributing to building absorptive resilience, or the adaptation to the shock, contributing to building adaptive resilience. Yet, they are not sufficient to turn adversities into opportunities because firms also require a favourable entrepreneurial attitude to activate slack.

Plain English Summary How entrepreneurial firms respond to - and display resilience in - coping with a crisis’s uncertainty varies according to the entrepreneurial attitude of the entrepreneur and the typology of slack resource leveraged. We find that these firms responded to the Covid 19 crisis either through: “waiting while seeding”, “keeping business as usual”, “striving to resist” or “surfing the pandemic”. The four responses differ in the type of slack resources — business or family — and extent of entrepreneurial attitude — favourable or unfavourable — leveraged. Slack resources, both business and family, are not sufficient to turn adversities into opportunities because firms require a favourable entrepreneurial attitude to activate slack. The study contributes to business practice by showing that both family and non-family businesses to thrive in the “new normal” era will have to develop the entrepreneurial resources of the team. Policymakers must be attentive to how firms’ accumulated resources are deployed during times of crisis and foster the capture of opportunities out of the storm.

本研究探讨了创业型企业如何应对意外危机产生的不确定性并表现出韧性。我们研究了企业家如何利用闲置资源来建立组织的弹性，并且由于他们的企业家态度，最终可以将逆境转化为机遇。通过多个案例研究，关于闲置资源的类型（企业或家庭）和所利用的创业态度（有利或不利）的程度，出现了四种关键的企业家反应：“播种时等待”，“照常营业”，“努力抵御”和“渡过疫情”。企业和家庭的闲置资源可以吸收冲击，有助于建立吸收弹性或适应冲击，有助于建立适应性复原力。然而，它们不足以将逆境转化为机遇，因为企业还需要良好的创业态度来激活闲置。

简单的英语摘要创业公司如何应对——并在应对危机的不确定性方面表现出弹性——因企业家的创业态度和闲置资源杠杆类型而异。我们发现，这些公司通过“边播边等”、“照常营业”、“努力抵御”或“渡过疫情”来应对Covid 19危机。这四种反应在闲置资源的类型（企业或家庭）和创业态度的程度（有利或不利）方面有所不同。企业和家庭的闲置资源不足以将逆境转化为机遇，因为公司需要良好的创业态度来激活闲置。该研究表明，家族企业和非家族企业要想在“新常态”时代蓬勃发展，都必须开发团队的创业资源，从而有助于商业实践。政策制定者必须关注企业在危机时期如何部署积累的资源，并促进在风暴中抓住机遇。