Araştırma Makalesi
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Resilience and Strategic Agility of Turkish Manufacturing Firms: Post-COVID-19 and 2023 Earthquake Recovery

Yıl 2025, Cilt: 6 Sayı: 2, 92 - 103, 25.12.2025
https://doi.org/10.58767/joinbat.1677770

Öz

The global economy is undergoing significant shifts, requiring organizations to develop resilience and agility to navigate a volatile business environment marked by crises such as the COVID-19 pandemic, natural disasters, and globalisation. This study examines the resilience of Turkish manufacturing companies following two major crises: the COVID-19 pandemic and the 2023 earthquake. The research aims to enhance the formulation of comprehensive strategies by implementing strategic agility dimensions to support firms' survival and growth. The study employed a quantitative research design, drawing on secondary data from 100 manufacturing companies listed on the Istanbul Stock Exchange, with financial data from 2021 to 2024. Of these companies, 17 were family-owned, while 82 were non-family-owned, and 125 patents were issued during the period (2021–2023). Using descriptive analysis, paired and independent tests, and regression analysis, the study assessed key financial performance indicators, including net profit margin growth rate, profit growth rate, sales growth rate, and asset growth rate. The results indicate that companies exhibited similar recoveries in sales and net profit from the COVID-19 pandemic and the earthquake. However, the two crisis periods observed significant differences in profit margins and net assets. Moreover, family-owned and non-family-owned firms displayed distinct recovery patterns, particularly on net asset and profit margin recovery, while no significant differences were found in net profit and sales performance between the two groups. This study provides valuable insights into the resilience of manufacturing firms in crisis conditions and underscores the importance of strategic agility for sustaining business growth during periods of volatility.

Kaynakça

  • Adomako, S., Amankwah-Amoah, J., Donbesuur, F., Ahsan, M., Danso, A., & Uddin, M. (2022). Strategic agility of SMES in emerging economies: Antecedents, consequences and boundary conditions. International Business Review, 31(6). https://doi.org/10.1016/j.ibusrev.2022.102032
  • Ahammad, M. F., Basu, S., Munjal, S., Clegg, J., & Shoham, O. B. (2021). Strategic agility, environmental uncertainties and international performance: The perspective of Indian firms. Journal of World Business, 56(4). https://doi.org/10.1016/j.jwb.2021.101218
  • Ahenkora, K., & Adjei, E. (2012). A dynamic capabilities perspective on the strategic management of an industry organisation. Journal of Management and Strategy, 3(3), 21.
  • Akkuş, H. T., & Kışlalıoğlu, V. (2023). Investigating the effects of natural disasters on the stock market on a sectoral basis: The case of 2023 Kahramanmaraş/Türkiye earthquake. International Journal of Business and Economic Studies, 5(2), 141-151.
  • Alam, I., & Ali, Y. (2023). Studying the effects of Türkiye earthquake disaster and its impact on real estate industry: A risk analysis based on input-output & non-linear optimization models. International Journal of Disaster Risk Reduction, 96, 103920.
  • Ambrosini, V., & Bowman, C. (2009). What are dynamic capabilities and are they a useful construct in strategic management? International journal of management reviews, 11(1), 29-49.
  • Arbussa, A., Bikfalvi, A., & Marquès, P. (2017). Strategic agility-driven business model renewal: the case of an SME. Management Decision, 55(2), 271-293. https://doi.org/10.1108/md-05-2016-0355
  • Bogers, M., Chesbrough, H., Heaton, S., & Teece, D. J. (2019). Strategic management of open innovation: A dynamic capabilities perspective. California Management Review, 62(1), 77-94.
  • Büyükbozduğan, Ç. (2024). Seismic activity and market efficiency: A case study of 2023 Turkish earthquakes. Chakravarty, A., Grewal, R., & Sambamurthy, V. (2013). Information Technology Competencies, Organizational Agility, and Firm Performance: Enabling and Facilitating Roles. Information Systems Research, 24(4), 976-997. https://doi.org/10.1287/isre.2013.0500
  • Chwiłkowska-Kubala, A., Cyfert, S., Malewska, K., Mierzejewska, K., Szumowski, W., & Prause, G. (2023). What drives organizational agility in energy sector companies? The role of strategic CSR initiatives and the dimensions of proactive CSR. Sustainable Futures, 6. https://doi.org/10.1016/j.sftr.2023.100133
  • Clauss, T., Abebe, M., Tangpong, C., & Hock, M. (2021). Strategic Agility, Business Model Innovation, and Firm Performance: An Empirical Investigation. IEEE Transactions on Engineering Management, 68(3), 767-784. https://doi.org/10.1109/tem.2019.2910381
  • Dayioglu, M., Küskü, F., & Cetindamar, D. (2024). The Impact of Business Environmental Factors on Performance Through Strategic Agility and Business Model Innovation: An Analysis Based on Dynamic Capabilities Theory. IEEE Transactions on Engineering Management, 71, 3656-3670. https://doi.org/10.1109/tem.2024.3353734
  • Denise Dunlop-Hinkler1, R. P., Tucker J. Marion1, John H. Friar1. (2011).
  • The_role_of_technology_agility_on_business_processes_and_organizational_agilities. IEEE Int'l Technology Management Conference.
  • Diana Marie Wiechmanna, C. R., Ralf-Christian Haertinga, Joerg secure competitive. (2022). Agile management to secure competitiveness in times of digital transformation in medium-sized businesses. Elsevier B.V.
  • Doz, Y. L., & Kosonen, M. (2010). Embedding strategic agility: A leadership agenda for accelerating business model renewal. Long range planning, 43(2-3), 370-382.
  • Eisenhardt, K. M., & Martin, J. A. (2000). Dynamic capabilities: what are they? Strategic management journal, 21(10‐11), 1105-1121.
  • Fernandes, C., Ferreira, J. J., Raposo, M. L., Estevão, C., Peris-Ortiz, M., & Rueda-Armengot, C. (2017). The dynamic capabilities perspective of strategic management: a co-citation analysis. Scientometrics, 112, 529-555.
  • Fosso Wamba, S. (2022). Impact of artificial intelligence assimilation on firm performance: The mediating effects of organizational agility and customer agility. International Journal of Information Management, 67. https://doi.org/10.1016/j.ijinfomgt.2022.102544
  • Güneş, G. Ş., Güneş, T., & Güneş, S. (2023). THE IMPACT OF 2023 KAHRAMANMARAŞ EARTHQUAKES ON REAL ESTATE RELATED SECTORS: AN EVENT STUDY ANALYSIS. Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 14(28), 789-811.
  • Hodgkinson, G. P., & Healey, M. P. (2011). Psychological foundations of dynamic capabilities: Reflexion and reflection in strategic management. Strategic management journal, 32(13), 1500-1516.
  • Jones, R. L., Guha-Sapir, D., & Tubeuf, S. (2022). Human and economic impacts of natural disasters: can we trust the global data? Scientific data, 9(1), 572.
  • Jordà, Ò., Singh, S. R., & Taylor, A. M. (2022). Longer-run economic consequences of pandemics. Review of Economics and Statistics, 104(1), 166-175.
  • Lee, C.-C., Wang, C.-W., Ho, S.-J., & Wu, T.-P. (2021). The impact of natural disaster on energy consumption: International evidence. Energy Economics, 97, 105021.
  • Lengnick-Hall, C. A., Beck, T. E., & Lengnick-Hall, M. L. (2011). Developing a capacity for organizational resilience through strategic human resource management. Human resource management review, 21(3), 243-255.
  • MacInerney-May, K. (2012). The value of dynamic capabilities for strategic management Universität zu Köln].
  • Mishra, A., Bruno, E., & Zilberman, D. (2021). Compound natural and human disasters: Managing drought and COVID-19 to sustain global agriculture and food sectors. Science of the Total Environment, 754, 142210.
  • Mwangi, M. K. (2021). THE INFLUENCE OF ORGANIZATIONAL AGILITY ON PERFORMANCE OF SMES IN NAIROBI COUNTY. UNIVERSITY OF NAIROBI.
  • Pandey, D. K., Kumar, S., Kumari, V., & Alahdal, W. M. (2024). Quaking the stock market: Event study evidence on the Turkey-Syria earthquake. International Review of Economics & Finance, 93, 182-194.
  • Peter, F. O., Motunrayo, A. A., Sajuyigbe, A., Peter, A., & Asiyanbola, T. (2023). Enhancing the Performance of SMEs Post Covid-19: The Role of Strategic Agility 2023 International Conference on Science, Engineering and Business for Sustainable Development Goals (SEB-SDG),
  • Polinkevych, O., Khovrak, I., Trynchuk, V., Klapkiv, Y., & Volynets, I. (2021). Business risk management in times of crises and pandemics. Montenegrin Journal of Economics, 17(3), 99-110.
  • Rostan, P., & Rostan, A. (2022). Assessing the Resilience of Turkey’s Economy during the Covid-19 Pandemic with its 2050 Projections. JOEEP: Journal of Emerging Economies and Policy, 7(2), 38-49.
  • Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic management journal, 18(7), 509-533.
  • Unvan, A., & Ozdemir, M. (2023). Impact of Natural Disasters on Stock Exchange Markets–2023 Turkey Earthquake and Borsa Istanbul. Am Int J Business Manag, 6(5), 38-47.
  • Vogus, T. J., & Sutcliffe, K. M. (2007). Organizational resilience: Towards a theory and research agenda. 2007 IEEE international conference on systems, man and cybernetics,
  • Winter, S. G. (2003). Understanding dynamic capabilities. Strategic management journal, 24(10), 991-995.

Türk Üretim Firmalarının Dayanıklılığı ve Stratejik Çevikliği: COVID-19 Sonrası ve 2023 Deprem Sonrası İyileşme

Yıl 2025, Cilt: 6 Sayı: 2, 92 - 103, 25.12.2025
https://doi.org/10.58767/joinbat.1677770

Öz

Küresel ekonomi önemli değişimler geçiriyor ve bu durum, kuruluşların COVID-19 salgını, doğal afetler ve küreselleşme gibi krizlerle işaretlenen değişken bir iş ortamında yol alabilmek için dayanıklılık ve çeviklik geliştirmesini gerektiriyor. Bu çalışma, iki büyük krizin ardından Türk imalat şirketlerinin dayanıklılığını inceliyor: COVID-19 salgını ve 2023 depremi. Araştırma, firmaların hayatta kalmasını ve büyümesini desteklemek için stratejik çeviklik boyutlarını uygulayarak kapsamlı stratejilerin formülasyonunu geliştirmeyi amaçlıyor. Çalışma, İstanbul Borsası'nda listelenen ve 2021-2024 yıllarına ait finansal verileri olan 100 imalat şirketinden ikincil verilerden yararlanan nicel bir araştırma tasarımı kullandı. Bu şirketlerden 17'si aile şirketiyken, 82'si aile şirketi değildi ve bu dönemde (2021-2023) 125 patent verildi. Çalışmada, tanımlayıcı analiz, eşleştirilmiş ve bağımsız testler ve regresyon analizi kullanılarak net kar marjı büyüme oranı, kar büyüme oranı, satış büyüme oranı ve varlık büyüme oranı gibi temel finansal performans göstergeleri değerlendirilmiştir. Sonuçlar, şirketlerin COVID-19 salgını ve depremden sonra satış ve net karda benzer toparlanmalar gösterdiğini göstermektedir. Ancak, iki kriz döneminde kar marjları ve net varlıklarda önemli farklılıklar gözlemlenmiştir. Dahası, aileye ait ve aileye ait olmayan firmalar, özellikle net varlık ve kar marjı toparlanmasında farklı toparlanma kalıpları gösterirken, iki grup arasında net kar ve satış performansında önemli bir fark bulunamamıştır. Bu çalışma, kriz koşullarında üretim firmalarının dayanıklılığına ilişkin değerli bilgiler sağlamakta ve oynaklık dönemlerinde iş büyümesini sürdürmek için stratejik çevikliğin önemini vurgulamaktadır.

Kaynakça

  • Adomako, S., Amankwah-Amoah, J., Donbesuur, F., Ahsan, M., Danso, A., & Uddin, M. (2022). Strategic agility of SMES in emerging economies: Antecedents, consequences and boundary conditions. International Business Review, 31(6). https://doi.org/10.1016/j.ibusrev.2022.102032
  • Ahammad, M. F., Basu, S., Munjal, S., Clegg, J., & Shoham, O. B. (2021). Strategic agility, environmental uncertainties and international performance: The perspective of Indian firms. Journal of World Business, 56(4). https://doi.org/10.1016/j.jwb.2021.101218
  • Ahenkora, K., & Adjei, E. (2012). A dynamic capabilities perspective on the strategic management of an industry organisation. Journal of Management and Strategy, 3(3), 21.
  • Akkuş, H. T., & Kışlalıoğlu, V. (2023). Investigating the effects of natural disasters on the stock market on a sectoral basis: The case of 2023 Kahramanmaraş/Türkiye earthquake. International Journal of Business and Economic Studies, 5(2), 141-151.
  • Alam, I., & Ali, Y. (2023). Studying the effects of Türkiye earthquake disaster and its impact on real estate industry: A risk analysis based on input-output & non-linear optimization models. International Journal of Disaster Risk Reduction, 96, 103920.
  • Ambrosini, V., & Bowman, C. (2009). What are dynamic capabilities and are they a useful construct in strategic management? International journal of management reviews, 11(1), 29-49.
  • Arbussa, A., Bikfalvi, A., & Marquès, P. (2017). Strategic agility-driven business model renewal: the case of an SME. Management Decision, 55(2), 271-293. https://doi.org/10.1108/md-05-2016-0355
  • Bogers, M., Chesbrough, H., Heaton, S., & Teece, D. J. (2019). Strategic management of open innovation: A dynamic capabilities perspective. California Management Review, 62(1), 77-94.
  • Büyükbozduğan, Ç. (2024). Seismic activity and market efficiency: A case study of 2023 Turkish earthquakes. Chakravarty, A., Grewal, R., & Sambamurthy, V. (2013). Information Technology Competencies, Organizational Agility, and Firm Performance: Enabling and Facilitating Roles. Information Systems Research, 24(4), 976-997. https://doi.org/10.1287/isre.2013.0500
  • Chwiłkowska-Kubala, A., Cyfert, S., Malewska, K., Mierzejewska, K., Szumowski, W., & Prause, G. (2023). What drives organizational agility in energy sector companies? The role of strategic CSR initiatives and the dimensions of proactive CSR. Sustainable Futures, 6. https://doi.org/10.1016/j.sftr.2023.100133
  • Clauss, T., Abebe, M., Tangpong, C., & Hock, M. (2021). Strategic Agility, Business Model Innovation, and Firm Performance: An Empirical Investigation. IEEE Transactions on Engineering Management, 68(3), 767-784. https://doi.org/10.1109/tem.2019.2910381
  • Dayioglu, M., Küskü, F., & Cetindamar, D. (2024). The Impact of Business Environmental Factors on Performance Through Strategic Agility and Business Model Innovation: An Analysis Based on Dynamic Capabilities Theory. IEEE Transactions on Engineering Management, 71, 3656-3670. https://doi.org/10.1109/tem.2024.3353734
  • Denise Dunlop-Hinkler1, R. P., Tucker J. Marion1, John H. Friar1. (2011).
  • The_role_of_technology_agility_on_business_processes_and_organizational_agilities. IEEE Int'l Technology Management Conference.
  • Diana Marie Wiechmanna, C. R., Ralf-Christian Haertinga, Joerg secure competitive. (2022). Agile management to secure competitiveness in times of digital transformation in medium-sized businesses. Elsevier B.V.
  • Doz, Y. L., & Kosonen, M. (2010). Embedding strategic agility: A leadership agenda for accelerating business model renewal. Long range planning, 43(2-3), 370-382.
  • Eisenhardt, K. M., & Martin, J. A. (2000). Dynamic capabilities: what are they? Strategic management journal, 21(10‐11), 1105-1121.
  • Fernandes, C., Ferreira, J. J., Raposo, M. L., Estevão, C., Peris-Ortiz, M., & Rueda-Armengot, C. (2017). The dynamic capabilities perspective of strategic management: a co-citation analysis. Scientometrics, 112, 529-555.
  • Fosso Wamba, S. (2022). Impact of artificial intelligence assimilation on firm performance: The mediating effects of organizational agility and customer agility. International Journal of Information Management, 67. https://doi.org/10.1016/j.ijinfomgt.2022.102544
  • Güneş, G. Ş., Güneş, T., & Güneş, S. (2023). THE IMPACT OF 2023 KAHRAMANMARAŞ EARTHQUAKES ON REAL ESTATE RELATED SECTORS: AN EVENT STUDY ANALYSIS. Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 14(28), 789-811.
  • Hodgkinson, G. P., & Healey, M. P. (2011). Psychological foundations of dynamic capabilities: Reflexion and reflection in strategic management. Strategic management journal, 32(13), 1500-1516.
  • Jones, R. L., Guha-Sapir, D., & Tubeuf, S. (2022). Human and economic impacts of natural disasters: can we trust the global data? Scientific data, 9(1), 572.
  • Jordà, Ò., Singh, S. R., & Taylor, A. M. (2022). Longer-run economic consequences of pandemics. Review of Economics and Statistics, 104(1), 166-175.
  • Lee, C.-C., Wang, C.-W., Ho, S.-J., & Wu, T.-P. (2021). The impact of natural disaster on energy consumption: International evidence. Energy Economics, 97, 105021.
  • Lengnick-Hall, C. A., Beck, T. E., & Lengnick-Hall, M. L. (2011). Developing a capacity for organizational resilience through strategic human resource management. Human resource management review, 21(3), 243-255.
  • MacInerney-May, K. (2012). The value of dynamic capabilities for strategic management Universität zu Köln].
  • Mishra, A., Bruno, E., & Zilberman, D. (2021). Compound natural and human disasters: Managing drought and COVID-19 to sustain global agriculture and food sectors. Science of the Total Environment, 754, 142210.
  • Mwangi, M. K. (2021). THE INFLUENCE OF ORGANIZATIONAL AGILITY ON PERFORMANCE OF SMES IN NAIROBI COUNTY. UNIVERSITY OF NAIROBI.
  • Pandey, D. K., Kumar, S., Kumari, V., & Alahdal, W. M. (2024). Quaking the stock market: Event study evidence on the Turkey-Syria earthquake. International Review of Economics & Finance, 93, 182-194.
  • Peter, F. O., Motunrayo, A. A., Sajuyigbe, A., Peter, A., & Asiyanbola, T. (2023). Enhancing the Performance of SMEs Post Covid-19: The Role of Strategic Agility 2023 International Conference on Science, Engineering and Business for Sustainable Development Goals (SEB-SDG),
  • Polinkevych, O., Khovrak, I., Trynchuk, V., Klapkiv, Y., & Volynets, I. (2021). Business risk management in times of crises and pandemics. Montenegrin Journal of Economics, 17(3), 99-110.
  • Rostan, P., & Rostan, A. (2022). Assessing the Resilience of Turkey’s Economy during the Covid-19 Pandemic with its 2050 Projections. JOEEP: Journal of Emerging Economies and Policy, 7(2), 38-49.
  • Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic management journal, 18(7), 509-533.
  • Unvan, A., & Ozdemir, M. (2023). Impact of Natural Disasters on Stock Exchange Markets–2023 Turkey Earthquake and Borsa Istanbul. Am Int J Business Manag, 6(5), 38-47.
  • Vogus, T. J., & Sutcliffe, K. M. (2007). Organizational resilience: Towards a theory and research agenda. 2007 IEEE international conference on systems, man and cybernetics,
  • Winter, S. G. (2003). Understanding dynamic capabilities. Strategic management journal, 24(10), 991-995.
Toplam 36 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular İşletme
Bölüm Araştırma Makalesi
Yazarlar

Ömer Yazıcı 0000-0002-6372-7755

Hussen Mugumbate 0009-0000-2785-9024

Gönderilme Tarihi 16 Nisan 2025
Kabul Tarihi 15 Eylül 2025
Yayımlanma Tarihi 25 Aralık 2025
Yayımlandığı Sayı Yıl 2025 Cilt: 6 Sayı: 2

Kaynak Göster

APA Yazıcı, Ö., & Mugumbate, H. (2025). Resilience and Strategic Agility of Turkish Manufacturing Firms: Post-COVID-19 and 2023 Earthquake Recovery. Journal of Business and Trade, 6(2), 92-103. https://doi.org/10.58767/joinbat.1677770