Small Family Firms and Strategies Coping the Economic Crisis: The Influence of Socio-emotional Wealth

Cesaroni, Francesca Maria; Cubico, Serena

doi:10.1007/978-3-030-15526-1_3

Cited by 6 publications

(5 citation statements)

References 43 publications

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“…The findings indicated that as a result of the COVID-19 pandemic, businesses are more interested in improving and adapting their workplaces, as well as enhancing employee flexibility, whereas Cesaroni et al (2020) contented that businesses are focusing more on business strategy, and sales. Contrary to this, many other businesses used short-term techniques that include layoffs and internal restructuring, to continue improving liquidity.…”

Section: Conclusion and Discussionmentioning

confidence: 99%

Digital technology in a crisis: Role of digital and cloud maturity in organisations surviving and thriving through pandemic crisis

KANG¹

2023

EJWI

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The COVID-19 epidemic forced Singapore to implement a smart lockdown in April 2020. As a result, many businesses were forced to rapidly expedite their shift to digital technologies. Despite many businesses' valiant efforts and great accomplishments, the epidemic has revealed the various ways in which these businesses are susceptible to a crisis. Digital technology has proven to be one of the most essential options for many businesses seeking to grow. This entails making the transition from active experimenting to active scaling up. Regardless of the immense obstacles that many businesses are facing today, they have now recognized that this is the moment to focus and act on new principles and strategies in order to adapt to the changing situation. This manuscript is summary of the results from the qualitative content analysis conducted during the dissertation, to study in what ways are these financial services institutes created or adjusted strategies based on digital technology to become more robust in contexts marked by high uncertainty levels and disruptions. Workplace innovation can be described as the extent to which businesses seek out new ideas in order to improve the engagement of their employees by improving their working conditions, fostering a culture of competent environmental change response, and increasing productivity. On the other hand, digital technology can be defined as all devices, systems, electronic tools, and other resources that, process, generate, and store data

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Section: Conclusion and Discussionmentioning

confidence: 99%

Digital technology in a crisis: Role of digital and cloud maturity in organisations surviving and thriving through pandemic crisis

KANG¹

2023

EJWI

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“…The research highlights how improving workforce quality, skills and education can help organizations and society as a whole to be more resilient to the economic pressures that come with a recession. Additionally, other studies by Okay-Somerville & Scholarios (2019) and Cesaroni et al (2020) emphasized the importance of investment in human resource development as a strategy to maintain and increase economic competitiveness when facing a recession. The results of this research also highlight how human resource development can contribute to longterm economic growth.…”

Section: Hr In the Acceleration Of Sustainable Development Goals (Sdg...mentioning

confidence: 99%

Readiness of UT Students in Supporting the Acceleration of SDGs Amid the Challenges of an Economic Recession

Radeswandri,

Berlian,

Thahir

et al. 2023

ISBEST

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This study aims to investigate the readiness of Human Resources (HR) of Open University (UT) students in supporting the acceleration of Sustainable Development Goals (SDGs) amidst the challenges of an economic recession. The research methodology involves surveys and data analysis to evaluate students' understanding, views and knowledge of the role of HR in achieving the 2025 SDGs during a period of economic recession. The research results show that the majority of students have a diverse understanding of the concept of HR in the context of an economic recession and support investment in HR development. However, obstacles to access to the technology needed to support HR understanding were also identified. This research makes a new contribution by exploring the readiness of UT student human resources which was poorly understood in the previous literature. In conclusion, efforts to maximize the potential of UT students in supporting the SDGs in facing an economic recession require improved education, training, collaboration and greater technological support. These findings highlight the need for the role of higher education in preparing young people to contribute to sustainable development and overcome global economic challenges.

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“…This is in line with another research mentioning that one of the success factors in facing the dynamics of the situation is that it has an entrepreneurial orientation with the speed of adapting to environmental changes that will provide opportunities for the SMEs' sustainability. Entrepreneurial actions capability is essential for businesses to develop new products, new processes, and new organizations through the modification and reconfiguration of resources, as well as addressing the pace of market change [12]. The Government's attention to SMEs is very tremendous; it is based on the collective awareness of all parties that SMEs are solving various economic crisis issues, including the consequences of this pandemic.…”

Section: The Characteristics Of Smes In Times Of Crisismentioning

confidence: 99%

The Resilience of SMEs Facing Pandemic: A Case Study of Processed Seafood Products in Pekalongan City, Indonesia

Retnawati¹,

Retnaningsih²

2021

Proceedings of the Ninth International Conference on Entrepreneurship and Business Management (ICEBM 2020)

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The difficult time caused by the Covid-19 pandemic outbreak proves that SMEs can survive even with serious problems that directly impact them. This research is a qualitative descriptive study by conducting interviews to 30 respondents of seafood-processing entrepreneurs in the city of Pekalongan. The interviews were conducted with business actors by using random sampling, and data collection was in form of convenience sample. Indepth interviews were conducted by exploring information on businesses carried out before the pandemic, during the pandemic, and adaptive efforts to survive in the new normal era. In the period before the pandemic, the amount of production per month of seafood-processing SME in Pekalongan Regency was quite diverse with the number of products varying from less than 100 kg/month (7%) up to more than 1000 kg/month (57%). Nevertheless, they have not used IT as a supporting means in their efforts. They continue to market their products directly in the area around Pekalongan and also outside Pekalongan area. During the Covid-19 pandemic, all SMEs' businesses continued but experienced significant declines such as difficult and expensive raw materials and a decrease in the number of buyers. On the other hand, the impact of pandemics on marketing and labour areas is not very significant. The marketing activities continue as before the pandemic and the employees work as usual. However, product innovation is minimal due to the lack of capital and knowledge. In the new normal era, all seafood-processing SMEs will continue their efforts. They will compete with the market, which remain optimistic that their products will improve so that they can increase the production. Besides, the new normal business plan for them is also like expanding the marketing and trying to be more successful. They also have specific targets to keep selling and continue to survive in the hope that the government can also synergize through the provision of assistance in form of the access to capital. This research concludes that the majority of SMEs in seafood-processing business are still able to survive in crises due to prolonged pandemics. Although they are able to stay and continue their efforts, there has not been innovation related to more adaptive marketing patterns, namely the utilization of digitalization.

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Small Family Firms and Strategies Coping the Economic Crisis: The Influence of Socio-emotional Wealth

Cited by 6 publications

References 43 publications

Digital technology in a crisis: Role of digital and cloud maturity in organisations surviving and thriving through pandemic crisis

Digital technology in a crisis: Role of digital and cloud maturity in organisations surviving and thriving through pandemic crisis

Readiness of UT Students in Supporting the Acceleration of SDGs Amid the Challenges of an Economic Recession

The Resilience of SMEs Facing Pandemic: A Case Study of Processed Seafood Products in Pekalongan City, Indonesia

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