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Knocked down but not out and fighting to go the distance: Small business responses to an unfolding crisis in the initial impact period

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  • Doern, Rachel

Abstract

This study explores in real time how small businesses adjust to an unfolding crisis in the initial crisis impact period and what kinds of actions they take. A weekly diary study following a group of entrepreneurs in London over the first couple months of the COVID-19 inspired lockdown across the UK beginning March 23, 2020, found that small businesses were knocked down but not out by events. Small businesses were increasing their chances of survival (going the distance) by 1) monitoring business functioning and detecting risks (checking vitals), 2) initiating quick defensive moves to absorb damages and defend against additional risks (blocking), 3) undertaking more skilful moves to avoid further damages (deflecting), and 4) planning the next move and managing expectations (developing tactical awareness). While the unfolding crisis does not literally represent a fight, features of how boxers engage in a fight were borrowed to help explain small business responses.

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  • Doern, Rachel, 2021. "Knocked down but not out and fighting to go the distance: Small business responses to an unfolding crisis in the initial impact period," Journal of Business Venturing Insights, Elsevier, vol. 15(C).
    • Handle: RePEc:eee:jobuve:v:15:y:2021:i:c:s2352673420300779
    DOI: 10.1016/j.jbvi.2020.e00221
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    References listed on IDEAS

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    Cited by:

    1. Elias Hadjielias & Michael Christofi & Shlomo Tarba, 2022. "Contextualizing small business resilience during the COVID-19 pandemic: evidence from small business owner-managers," Small Business Economics, Springer, vol. 59(4), pages 1351-1380, December.
    2. Oana Branzei & Ramzi Fathallah, 2023. "The End of Resilience? Managing Vulnerability Through Temporal Resourcing and Resisting," Entrepreneurship Theory and Practice, , vol. 47(3), pages 831-863, May.
    3. Tomasz Ewertowski & Marcin Butlewski, 2021. "Development of a Pandemic Residual Risk Assessment Tool for Building Organizational Resilience within Polish Enterprises," IJERPH, MDPI, vol. 18(13), pages 1-14, June.
    4. Ute Stephan & Przemysław Zbierowski & Ana Pérez-Luño & Dominika Wach & Johan Wiklund & Marisleidy Alba Cabañas & Edgard Barki & Alexandre Benzari & Claudia Bernhard-Oettel & Janet A. Boekhorst & A, 2023. "Act or Wait-and-See? Adversity, Agility, and Entrepreneur Wellbeing across Countries during the COVID-19 Pandemic," Entrepreneurship Theory and Practice, , vol. 47(3), pages 682-723, May.
    5. Mikaela Backman & Johannes Hagen & Orsa Kekezi & Lucia Naldi & Tina Wallin, 2023. "In the Eye of the Storm: Entrepreneurs and Well-Being During the COVID-19 Crisis," Entrepreneurship Theory and Practice, , vol. 47(3), pages 751-787, May.
    6. Ali Anwar & Nicole Coviello & Maria Rouziou, 2023. "Weathering a Crisis: A Multi-Level Analysis of Resilience in Young Ventures," Entrepreneurship Theory and Practice, , vol. 47(3), pages 864-892, May.

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