Rising and thriving in the post COVID-19 era: the case of antifragility in a cosmetics company

Abstract

Antifragility is the ability of organizations to face difficulties and improve their strategic position. Manufacturers, as opposed to service companies, are burdened by high fixed costs, impeding in developing antifragility. The purpose of the article is to analyze the factors that enhance antifragility in a cosmetics company. The article is exploratory in nature. The case of a cosmetics company that improved its business model and strengthened its competitive position during COVID-19 pandemic was analyzed. The author found that antifragility is a mix of operational agility, context intelligence and entrepreneurial attitude. The main resources and capabilities supporting the development of antifragility in the cosmetics company are slack financial resources and a large and varied network of partners for innovation and research. The creativity, velocity and operational agility were the main capabilities found. This article offers directions for entrepreneurs in the cosmetics industry to be prepared for adversity and turn it, as much as possible, into opportunities. The concepts of resilience and agility have been broadly studied, however there is a lack of research on antifragility. This is the first case study to explore factors enhancing antifragility in the cosmetics industry in Eastern Europe. CZU: [005.332.2:005.591.1]:687.5(478); JEL: Q57, L26.