Strategic orientation of companies: The several strategic issues in times of COVID-19 pandemic

Lesníková, Petra; Schmidtová, Jarmila; Novotná, Andrea

doi:10.14254/2071-789x.2022/15-3/11

Cited by 5 publications

(3 citation statements)

References 34 publications

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“…In addition, the decision to work together with food aggregators like Foodpanda and GrabFood helped revitalise and sustain their business. These findings corroborate the ideas of Lesníková et al (2022), who suggested that strategic management actions are critical in the business world for establishing new directions for long-term survival, stability, and expansion, even during times of crisis. For the MFFB owners, switching from catering to providing direct food sales was key to building a long-term, sustainable business.…”

Section: Discussionsupporting

confidence: 88%

Role of Family and Survival Strategies of Micro-Family Food Business during COVID-19 Pandemic

Azman

Majid

2023

JoTS

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This study aimed to investigate the challenges faced, and strategies adopted by micro-family food businesses (MFFB) in Malaysia and examine the family's role in managing such businesses during the COVID-19 crisis. A qualitative research approach was employed, using semi-structured interviews with MFFB owners. The interviews ceased after six participants, ensuring data saturation and the interpreted data's trustworthiness is explained. The findings revealed that MFFB faced multiple challenges, including a drop in sales, business closure, financial instability, and pressure on fixed costs. Besides, this research captured several unique survival strategies adopted by the MFFB owners, such as generosity towards customers, changes in operation, online advertisements, customer satisfaction surveys, maintaining food quality and prices, initiating takeaway orders, and collaboration with food aggregators. The results indicate that task management, responsibility, and reliance are essential to family-owned businesses as significant business strategies. It implies that family relationships play a significant role in the business's direction and business survival; future directions might compare the results to a larger business capacity. This study sheds light on the role of families in managing MFFB during the COVID-19 pandemic and provides practical implications for policymakers, business owners, and practitioners to support MFFB in overcoming challenges during unexpected adversity. By better understanding the challenges faced and strategies adopted by MFFB, it is anticipated to gain greater insight into how the Malaysian food business can become more resilient in the future.

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Section: Discussionsupporting

confidence: 88%

Role of Family and Survival Strategies of Micro-Family Food Business during COVID-19 Pandemic

Azman

Majid

2023

JoTS

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“…These processes are determined by entrepreneurial orientation (Belas & Sopkova, 2016;Horobet et al, 2022) and the quality of the business environment in the SME segment (Belas et al, 2019). Besides, they should be considered in companies' strategic management (Lesníková et al, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

How did the COVID-19 pandemic affect net working capital in industrial production companies?

Grofčíková,

Musa,

Streimikis

2023

Economics &Amp; Sociology

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Industry is one of the key sectors of Slovakia's economy and accounts for approximately 22% of GDP. Industrial production accounts for an average of 85% of the industry's contribution to GDP. The period of 2020 and 2021 was a crisis for all sectors of the economy due to the announcement of the global COVID-19 pandemic. Regarding the importance of industrial production in Slovakia's economy, we examine the impact of the coronavirus crisis on a sample of companies operating in this sector. Changes in the operational activity of enterprises are directly reflected in the volume of their net working capital. The aim of the study is to research changes in the volume of net working capital of enterprises in individual branches of the manufacturing industry in Slovakia from 2017 to 2021. The Wilcoxon signed-rank test was used to examine the significance of interannual changes in this indicator. The findings point to the growth of the volume of net working capital in crisis periods in almost all branches of industrial production and confirm the increase in requirements for managing working capital in periods of economic decline.

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“…2021;Muangmee et al, 2022). The knowledge management systems within the HRM should be aligned with the overall strategic aim of the business (Lesníková et al, 2022). To achieve the strategic goals, enterprises try to increase the effectiveness of knowledge sharing via vocational training (Samoliuk et al, 2021) and overall changes in the learning orientation of firms (Meekaewkunchorn et al, 2021).…”

Section: Introductionmentioning

confidence: 99%

Emotional intelligence and knowledge sharing as key factors in business management – evidence from Slovak SMEs

Zsigmond

Mura

2023

Economics &Amp; Sociology

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ABSTRACT. Over the last decades, researchers have been increasingly studying the field of emotional intelligence and knowledge management. However, the interaction between these two important factors has not received sufficient attention thus far, therefore this paper aims to assess it. The goal of this article is to assess the impact of emotional intelligence on the willingness of knowledge transfer and examine additional factors (such as gender and generation group). The research sample (N=508) consisted of employees of Slovak SMEs. The study was conducted in June-August of 2022. A two-way variance analysis and a binomial logistic regression were applied. In the case of Hypotheses 1 and 2, Emotional Quotient (EQ) figured as an independent variable, while gender and generation group were independent categorical variables. In the case of Hypotheses 3, 4 and 5, a model was set up using logistic regression, where the EQ, gender and generation group were all independent variables. The results show that gender has a real impact on the level of EQ. The willingness of knowledge transfer is influenced by both the level of EQ and gender. The importance of emotional intelligence in connection to knowledge transfer was examined during the crisis caused by COVID-19 and the Russia-Ukraine war, thus expanding the knowledge related to human resources. Previous research on the topic is quite limited and the present study is unique in considering the issue in the context of SMEs and the CEE countries.

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Strategic orientation of companies: The several strategic issues in times of COVID-19 pandemic

Cited by 5 publications

References 34 publications

Role of Family and Survival Strategies of Micro-Family Food Business during COVID-19 Pandemic

Role of Family and Survival Strategies of Micro-Family Food Business during COVID-19 Pandemic

How did the COVID-19 pandemic affect net working capital in industrial production companies?

Emotional intelligence and knowledge sharing as key factors in business management – evidence from Slovak SMEs

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