當今經濟在全球化的影響下，企業經營要面對來自世界各地的競爭，每天面臨不同的挑戰，加上突如其來的危機，讓企業的經營愈加不易，中小企業資源不足、人才短缺面對危機更是脆弱，平均壽命只有13年，本論文研究者是未受正統商業訓練的中小企業主，創業多年來一路披荊斬棘，全憑一股傻勁及不向困境低頭的韌性，20多年來面臨兩次重大危機， 2008年面對金融風暴的衝擊，在幸運之神的眷顧下，不僅帶領公司渡過危機的考驗，並在次年立即恢復正常運作，隨後除了擴大本業的產能，還找到轉型契機，成功跨到新的業務，營收屢創新高，並在2012年達到高峰。
2013年發現代工本業的營收萎縮，在該年下旬開始思考轉型，由於第一次轉型成功的經驗帶來豐碩的成果，伴隨的是過度的樂觀與自信，第二次轉型幅度遠超過第一次，傾盡了所有的資源與心力，開發出產品推出市場，2015年終於獲市場肯定，業績開始穩定上行，在2017年營收登上2億1仟萬的高峰，2018及2019營收也有1億8仟萬的表現，然而過高的學習成本、高度複雜的設備規格及極度競爭的產業，一頭栽入後才發現超越了原來的估計，轉型的列車全力啟動卻逐漸失控，連續幾年亮麗的營收不抵市場接二連三的重擊，2018年主力客戶宣告重整，公司認列了3仟3佰萬的呆帳，資金大幅失血、2019年中美貿易大戰造成訂單嚴重萎縮，營收大幅下滑、2020年新冠肺炎疫情肆虐成為壓垮駝駱的最後一根稻草，由於負責人割捨不下經營20多年的事業，選擇性忽略警訊，也不理會財務的忠告，喪失數次主動停損的機會，直到用盡了所有的資金個案公司負責人才不得不啟動危機處理，將公司歸零，資遣所有員工，開始與銀行及供應商債務協商。
本論文以個案研究法透過韌性領導力的理論，深入分析探討個案公司兩次危機的實務經驗，希望整理出一套思考策略，讓個案公司能夠有系統地應對尚在進行中的第二次危機，也可供其他中小企業主做為危機處理的借鏡，經歷了兩次的危機處理後，事後反思發現雖然經營企業大家都強調遇到困難的時候不輕易退縮，要以堅韌不拔的精神突破困境，但是企業負責人往往過度感情用事，忽略了以客觀理性的態度來檢視公司的狀況，其實從財務面來看，當發現危機會傷到公司營運時，就應以公司存續為首要考量，立刻止血並採取必要手段，來削減各項開銷，以確保財務能支撐公司營運，然後再尋找突破困境東山再起的契機，這才是企業永續經營之道。

Globalization brings competition at international level and forces enterprises to face various challenges daily. Unexpectable crises make it even more difficult to manage an enterprise. Having insufficient recourses and lacking talents, small and medium-sized enterprises (SMEs) are more vulnerable in the face of crises, with an averaging life expectancy about 13 years. The author of this study is an owner of a SME who had not had professional business training. She founded her business approximately 20 years ago. She had overcome many hardships with her perseverance and resilience. During the 20-odd years, she faced two major crises. In 2008, she experienced the impact of the financial crisis. Luckily, she led the company through the crisis, and the company immediately returned to normal operation the following year. Subsequently, she expanded the production capacity of her primary business and discovered an opportunity to transform the company. She expanded to new business, and the revenue of her company kept reaching historical high and peaked in 2012.
In 2013, she noticed that the revenue from primary business had declined, and in late 2013, the company attempted to transform its business. However, the success experience and rich results from the first business transformation made the owner overly optimistic and confident. The scale of the second business transformation way surpassed the first one. The owner poured in all her resources and energy to develop new products and the products finally succeeded in the market in 2015 and the business started to grow steadily. In 2017, the revenue reached a new high of NT$210 million, and in 2018 and 2019, the revenues were both around NT$180 million. Nevertheless, only after the case company dived into the transformation did the owner realize that the overly high learning cost, extremely complex equipment specifications, and intensely competitive industry were all beyond her depth. She devoted all her energy into the business transformation, but things gradually got out of hand. The high revenues for several years could not make enough profit to cover the market crisis. In 2018, a major customer announced company reform, forcing the case company to recognize a bad debt expense of NT$33 million. In 2019, the China–United States trade war resulted in a severe reduction of orders and the subsequent reduction in revenue. The 2020 COVID-19 pandemic became the last straw. The owner of the company had to initiate crisis management and terminate the company. In retrospect, the owner discovered that she was not rational but acted on her emotions. Not willing to let go of the business she had been running for over 20 years, The owner chose to neglect warning signs and advise from her financial manager and missed out several opportunities to actively stop loss. After spent all her capitals, she had no choice but to lay off all her workers and to conduct debt settlement with the banks and suppliers.
In this study the author used a case study method and the theory of resilient leadership to conduct in-depth analysis on the practical experiences of how the case company dealt the two crises. This study organized a set of strategies, with which the case company would apply to systematically cope with the on-going second crisis, and hopefully this strategies can serve as an tool to help other SEM owners handle crisis.

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