![]() Opportunity recognition usually involves combining processes, technologies or products that are ripe for entrepreneurial exploitation ( Devece, Peris-Ortiz, & Rueda-Armengot, 2016). During recession, for example, entrepreneurs able to recognize opportunities or innovate are more likely to succeed. Milliken, 1987), and benefit from a forward-thinking approach when adapting to variation and chaos (e.g. Various scholars have explained that businesses encounter multiple types and forms of environmental uncertainty (e.g. Several classic treatments have highlighted uncertainty as a persistent multifaceted challenge to businesses. Yet, prior literature does provide some logically relevant insight into crisis situations that may share some similarities with the coronavirus threat. Small businesses facing uncertainty and crisisĬrisis adaptation among small business owners is a neglected topic in contrast with better established literature on existing and larger firms. Yet readers may find a brief consideration of some relevant past work informative to approach and orient the current study findings. Hence, this article presents the study methodology and results in detail and provides linkages to prior research mostly in the results and discussion sections. Through careful review of detailed open-ended interviews with small business owners, informed by principles suggested by scholars of grounded theory qualitative methodology ( Strauss and Corbin, 1998), the current study was undertaken with a fresh mindset unburdened by prior theory and research framework expectations. The study results produce both a qualitatively rich and detailed description of themes and patterns of small business response to heightened levels of uncertainty and crisis, and an emergent process model summarizing those themes that may be valuable in understanding potential future business crises and small business strategic responses. The current study sought to identify patterns of small business owner responses to COVID-19 across a variety of business types in a nonurban setting. Because businesses were struggling to operate due to COVID-19, this unfortunate circumstance allowed a unique opportunity to understand small business responses to crisis and uncertainty. Many businesses closed their doors temporarily unless they met government-imposed criteria as “essential”. “Social distancing” was advocated, originally to keep social gatherings to 10 individuals or less and recommendations to stay at least 6 feet apart from others not living within the same household. Government-imposed restrictions, shutdowns and other measures were taken. The pandemic and shutdown of businesses generated an unprecedented amount of uncertainty and fear. ![]() “Navigating uncharted waters” was the repeated phrase used by businesses, policymakers and the government as they devised plans to survive the onset of COVID-19. The full terms of this licence maybe seen at. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Published in Innovation & Management Review. Copyright © 2023, Megan Chapman Cook and Steven J.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |