Organizational resilience as a key property of enterprise risk management in response to novel and severe crisis events

The COVID-19 pandemic represented a novel risk event. Research on similar past crises identified culture and leadership as properties of effective enterprise management to enable companies respond “like rubber ball” such events. focus this paper is the question how (ERM) can develop resilience. A comprehensive literature review was undertaken enrich ERM framework with insights from organizational resilience theory, resource dynamic capability theory system psychodynamic thinking, addressing human dynamics at play when coping crisis. It complemented by global empirical study among C-level executives in insurance pandemic. Some key were identified: learning culture, strong permeability, clear purpose, ensure alignment autonomy teams trust, where employees feel safe, but also dare take courageous steps benefit While newly developed identifies themes, map provides guidance This enables researchers practitioners identify themes render company more resilient unforeseen