How to sustain company growth in times of crisis: The mitigating role of entrepreneurial management

Kusa, Rafał; Duda, Joanna; Suder, Marcin

doi:10.1016/j.jbusres.2021.12.081

Cited by 32 publications

(27 citation statements)

References 85 publications

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“…All types of assets were sold off in response to the new COVID-19 outbreak, and van der Wielen and Barrios ( 2021 ) found that financial market liquidity accelerated contraction due to this epidemic’s global spread. According to Kusa et al ( 2022 ), the “de-Chineseization” of the financial industry had begun because of the spread of the COVID-19 outbreak. According to international academics, investor and consumer confidence will plummet as this epidemic spreads swiftly across the globe, significantly influencing global financial markets.…”

Section: Literature Reviewmentioning

confidence: 99%

RETRACTED ARTICLE: Assessing the nexus between COVID-19 pandemic–driven economic crisis and economic policy: lesson learned and challenges

Chang

Mohsin

Iqbal

2022

Environ Sci Pollut Res

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This study examines China’s budgetary policy during the COVID-19 pandemic as a result of China’s insufficient ability to deal with a new crisis when the epidemic struck in March 2020 and as a result of the economic crisis that began in China in March 2020. In order to better comprehend China’s economic status during COVID-19, the study relies on secondary data. The fiscal response of emerging market economies like India is less than in advanced economies. However, it is generally considered to be in line with the average for emerging market economies. As a result of the Disaster Management authority imposing a rigorous lockdown, unemployment rose, the trade cycle was interrupted, and manufacturing and service activities were affected. According to the study’s findings, China’s economic policies, namely its fiscal policy, responded in the years leading up to 2019 by increasing health expenditure, income transfer, welfare payments, subsidies, and reducing short-term unemployment. As a result of the COVID-19 pandemic, China’s government has adopted a number of measures to minimize the damage to the economy. This article also focuses on China’s numerous budgetary actions with COVID-19.

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Section: Literature Reviewmentioning

confidence: 99%

RETRACTED ARTICLE: Assessing the nexus between COVID-19 pandemic–driven economic crisis and economic policy: lesson learned and challenges

Chang

Mohsin

Iqbal

2022

Environ Sci Pollut Res

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“…Under such conditions, new ventures that are based on market opportunity have good chances of survival (Simón-Moya et al, 2016). Some enterprises modify their behaviours and become more entrepreneurial in response to a crisis, which has also been observed during the current Covid-19 pandemic crisis (Szostak & Sułkowski, 2021;Kusa et al, 2022). We can expect that the implementation of entrepreneurial strategies can help enterprises alleviate the negative impact of a crisis.…”

Section: Literature Review and Propositions Developmentmentioning

confidence: 93%

How small printing firms alleviate impact of pandemic crisis? Identifying configurations of successful strategies with fuzzy-set qualitative comparative analysis

Suder¹,

Kusa²,

Duda³

et al. 2022

EBER

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The objective of this article is to identify strategies that can help small firms alleviate the negative impact of the Covid-19 crisis. We tested six strategies (namely, entrepreneurial, market penetration, market development, product development, diversification, and cooperation). In particular, we identified combinations of these strategies that may lead to performance during the current pandemic crisis. Research Design & Methods: This is a quantitative study that uses fuzzy-set qualitative comparative analysis (fsQCA). We identified and compared combinations of strategies that are specific for three market conditions; namely, non-crisis, the initial phase of the crisis, and the advanced phase of the crisis. The research sample consisted of 150 small printing enterprises operating across Poland. Findings: Our findings show that combinations that may lead to firm performance during crises differ from those that are specific for non-crisis conditions. Specifically, the presence of a diversification strategy together with the absence of a market-penetration strategy along with the presence of entrepreneurial, market-development, and product-development strategies may lead to an increase in firm performance before the crisis. During the initial phase of a crisis, the presence of an entrepreneurial strategy together with a product-development strategy or a product-development strategy that is accompanied by a diversification strategy may lead to an increase in firm performance. During the advanced phase of the crisis, the presence of an entrepreneurial strategy together with a product-development strategy along with a set of entrepreneurial, market-penetration, market-development, and cooperation strategies may lead to an increase in firm performance. The most common strategies are product-development and entrepreneurial strategies; these are present under all market conditions. Implications & Recommendations: This study confirms the role of a firm's strategy. This study exposes the necessity of adapting the strategy to changing market conditions. In particular, this study indicates which strategies and their combinations enable a firm to alleviate the impact of a crisis. These observations have meaningful managerial implications for entrepreneurs regarding the current Covid-19 pandemic crisis and possible future crises. Contribution & Value Added:The findings of this study contribute to the literature on the response to the Covid-19 crisis. In particular, this study indicates strategies that can help firms mitigate the impact of the pandemic crisis. This study implemented the fsQCA methodology to identify combinations of strategies that enable the mitigation of the negative impact of the crisis. Article type:research article

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“…Entrepreneurship has many facets and can be perceived as one of the characteristics of an organization (Covin & Wales, 2019 ; Glińska-Neweś & Glinka, 2021 ). According to scholars, such organizational entrepreneurship requires several abilities, particularly those that are related to: risk-taking, innovation, proactiveness (Covin & Slevin, 1989 ), competitive aggressiveness, autonomy (Lumpkin & Dess, 1996 ), self-renewal and new business venturing (Antoncic & Hisrich, 2001 ), opportunity-seeking, diversification, inter-organizational cooperation (Kusa et al, 2022 ), digitalization (Kraus et al, 2019 ), flexibility, also in terms of effective use of organizational boundaries (Kuratko et al, 2014 ), as well as absorptive, agile, and adaptive abilities (Mishra, 2017 ). These attributes are characteristics of the entrepreneurial behavior and orientation of an organization; they are also traits of entrepreneurial management.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

“…In addition, this method can be used to analyze small and medium data sets that do not meet the required assumptions for using models that are based on regression analysis or more-extensive models of structural equations (Ragin, 2008). Due to its strengths, fsQCA is widely used in business and management studies (Kumar et al, 2022) as well as in innovation and entrepreneurship research (Kraus et al, 2018b;Wu et al, 2019;Llanos-Contreras et al, 2020) -including entrepreneurial management (Kusa et al, 2022), entrepreneurial strategy (Suder et al, 2022a, b), entrepreneurial orientation (Núñez-Pomar et al, 2020), innovation (Palacios-Marques et al, 2017), digitalization (Ribeiro-Navarrete et al, 2021), dynamic capability, and organizational flexibility (Ramos et al, 2021).…”

Section: Data Analysis Techniquesmentioning

confidence: 99%

Entrepreneurial behaviors that shape performance in small family and non-family hotels during times of crisis

et al. 2022

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Recent economic and public health crises have posed important challenges to family businesses – particularly those in the hospitality sector. While sustaining a business, performance becomes critical; there is insufficient knowledge on the use of entrepreneurial behaviors in mitigating the impact of a crisis by family businesses. To help fill this gap, this study explores the configurations of entrepreneurial behaviors that lead to improved performance in small firms under crisis market conditions – particularly, risk-taking, innovativeness, proactiveness, flexibility, and digitalization. This study employs fuzzy-set qualitative comparative analysis (fsQCA). The sample consists of 117 one- and two-star Polish hotels that are comprised of both family and non-family businesses. The data was collected in November and December 2021. The results confirm the core role of risk-taking, proactiveness, and flexibility in increasing the performance of these small firms. However, performance outcomes depend on the configurations of the firms; differences between family and non-family businesses stood out. In family hotels, risk-taking is accompanied by flexibility as a core factor, and digitalization does not play an important role in achieving higher performance. Overall, these results contribute to the literature on organizational entrepreneurship (especially entrepreneurial orientation) as well as family business crisis management in the tourism sector. These findings offer implications for managers by indicating combinations of entrepreneurial behaviors that can help foster business performance.

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How to sustain company growth in times of crisis: The mitigating role of entrepreneurial management

Cited by 32 publications

References 85 publications

RETRACTED ARTICLE: Assessing the nexus between COVID-19 pandemic–driven economic crisis and economic policy: lesson learned and challenges

RETRACTED ARTICLE: Assessing the nexus between COVID-19 pandemic–driven economic crisis and economic policy: lesson learned and challenges

How small printing firms alleviate impact of pandemic crisis? Identifying configurations of successful strategies with fuzzy-set qualitative comparative analysis

Entrepreneurial behaviors that shape performance in small family and non-family hotels during times of crisis

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