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Implications Of Crises On Start-Up Management And Ways To Increase Business Resilience And Sustainable Development

Author

Listed:
  • DRAGOMIR Camelia-Cristina

    (Transilvania University of Brasov, Romania)

  • ZAMFIRACHE Alexandra

    (Transilvania University of Brasov, Romania)

  • ALBU Ruxandra-Gabriela

    (Transilvania University of Brasov, Romania)

  • FORIS Tiberiu

    (Transilvania University of Brasov, Romania)

Abstract

This paper aims to conduct an in-depth analysis of how recent crises have been experienced by Romanian start-ups from the perspective of their managers, through quantitative research. The authors also aimed to investigate the interest of entrepreneurs in sustainably developing their businesses and the actions they aim to take in this direction. Data were collected from a sample of 216 respondents, managers of start-ups operating in the Center and South-West Oltenia Regions. The results indicate that the COVID-19 health crisis and the international financial crisis, followed by the energy crisis, have had the greatest impact on the activity of start-ups and identify response measures that can be solutions to increase their resilience in times of crisis. The research can help managers of start-ups maintain business stability in complicated times and incorporate sustainability practices into their business strategy. Governmental, regional and local authorities, as well as entrepreneurship education providers, can also use the research results to initiate measures to support start-ups in their efforts to cope with current challenges and develop sustainably.

Suggested Citation

  • DRAGOMIR Camelia-Cristina & ZAMFIRACHE Alexandra & ALBU Ruxandra-Gabriela & FORIS Tiberiu, 2023. "Implications Of Crises On Start-Up Management And Ways To Increase Business Resilience And Sustainable Development," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 18(3), pages 118-135, December.
    • Handle: RePEc:blg:journl:v:18:y:2023:i:3:p:118-135
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    References listed on IDEAS

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    1. Moses Waiganjo & Danijela Godinic & Bojan Obrenovic, 2021. "Strategic Planning and Sustainable Innovation During the COVID-19 Pandemic: A Literature Review," International Journal of Innovation and Economic Development, Inovatus Services Ltd., vol. 7(5), pages 52-59, December.
    2. Valeriu Ioan-Franc & Andrei-Marius Diamescu, 2021. "The Crisis After the Crisis – Resilience or Reset?," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 23(58), pages 864-864, August.
    3. Jamshed Raza & Yuxin Liu & Jianwei Zhang & Nan Zhu & Zohaib Hassan & Habib Gul & Sikander Hussain, 2021. "Sustainable Supply Management Practices and Sustainability Performance: The Dynamic Capability Perspective," SAGE Open, , vol. 11(1), pages 21582440211, March.
    4. Paul Bishop, 2019. "Knowledge diversity and entrepreneurship following an economic crisis: an empirical study of regional resilience in Great Britain," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 31(5-6), pages 496-515, May.
    5. Milind Kumar Jha & K. Rangarajan, 2020. "Analysis of corporate sustainability performance and corporate financial performance causal linkage in the Indian context," Asian Journal of Sustainability and Social Responsibility, Springer, vol. 5(1), pages 1-30, December.
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