The role of agility in increasing business resilience through revenue diversification and risk management
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Bunyamin Bunyamin 
, Hanif Mauludin , Vica Maizhatin Nanda Maryana
This work is licensed under a Creative Commons Attribution 4.0 International License.
Abstract
This study examines how business agility enhances organizational resilience through revenue diversification and risk management. Business agility reflects a firm’s ability to adapt to environmental changes while maintaining value creation rapidly (Mrugalska & Ahmed, 2021). Agility enables companies to respond effectively to uncertainty and sustain competitiveness (Yusuf et al., 2022). Using data from 260 firms listed on the Indonesia Stock Exchange (IDX) from 2022 to 2023, this research employs partial least squares structural equation modelling (PLS-SEM) to analyze causal relationships. The results indicate that revenue diversification has an insignificant adverse impact on risk management, whereas agility has a significant adverse effect. However, agility strengthens the positive interaction between diversification and risk management, enhancing resilience. The findings contribute to the understanding of how agility and diversification jointly enhance strategic adaptability in volatile markets, providing practical implications for firms seeking to strengthen their long-term resilience.
Keywords: Business Agility, Revenue Diversification, Risk Management
Authors’ individual contribution: Conceptualization — B.B. and H.M.; Methodology — B.B., H.M., and V.M.N.M.; Software — H.M. and V.M.N.M.; Validation — B.B. and H.M.; Formal Analysis — B.B. and H.M.; Investigation — B.B. and H.M.; Resources — V.M.N.M.; Data Curation — H.M.; Writing — Original Draft — B.B., H.M., and V.M.N.M.; Writing — Review & Editing — B.B.; Visualization — B.B. and H.M.; Supervision — B.B.; Project Administration — H.M. and V.M.N.M.; Funding Acquisition — B.B. and H.M.
Declaration of conflicting interests: The Authors declare that there is no conflict of interest.
JEL Classification: M21
Received: 13.08.2025
Revised: 12.11.2025; 24.02.2026
Accepted: 02.03.2026
Published online: 03.03.2026
How to cite this paper: Bunyamin, B., Mauludin, H., & Maryana, V. M. N. (2026). The role of agility in increasing business resilience through revenue diversification and risk management. Corporate and Business Strategy Review, 7(2), 61–71. https://doi.org/10.22495/cbsrv7i2art6
