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Multidimensional Facets of Entrepreneurial Resilience during the COVID-19 Crisis through the Lens of the Wealthiest Romanian Counties

Author

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  • Raluca Ignat

    (Faculty of Agri-Food and Environmental Economics, The Bucharest University of Economic Studies, 5–7 Mihail Moxa Street, District 1, 010961 Bucharest, Romania)

  • Marius Constantin

    (Faculty of Agri-Food and Environmental Economics, The Bucharest University of Economic Studies, 5–7 Mihail Moxa Street, District 1, 010961 Bucharest, Romania)

Abstract

Sustainable socio-economic development can be looked upon from multiple perspectives, but no longer without considering the roles of urban planning, smart cities and eco-innovative entrepreneurial initiatives. In the context of the COVID-19 crisis, ensuring sustainable socio-economic development is definitely challenging, but not impossible if adopting appropriate measures. This research aimed at analyzing the multidimensional facets of entrepreneurial resilience during times of crisis caused by the COVID-19 pandemic in Romania, while focusing on the effects experienced in the wealthiest areas, specific to urban agglomerations. The research method consisted of constructing a composite indicator comprising appropriate components for assessing the level of wealth and “happiness” of all the Romanian counties. Through the lens of this composite indicator, entrepreneurial resilience was approached in multiple manners according to its diverse forms. Research findings highlight that entrepreneurial resilience tends to be stronger qualitatively and quantitatively in less developed areas than in those that are well developed, mainly due to the lack of entrepreneurial initiatives. Despite being less entrepreneurially resilient, qualitatively, the wealthiest Romanian counties can economically reinvent themselves quicker.

Suggested Citation

  • Raluca Ignat & Marius Constantin, 2020. "Multidimensional Facets of Entrepreneurial Resilience during the COVID-19 Crisis through the Lens of the Wealthiest Romanian Counties," Sustainability, MDPI, vol. 12(23), pages 1-29, December.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:23:p:10220-:d:458320
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    3. Jelle Schepers & Pieter Vandekerkhof & Yannick Dillen, 2021. "The Impact of the COVID-19 Crisis on Growth-Oriented SMEs: Building Entrepreneurial Resilience," Sustainability, MDPI, vol. 13(16), pages 1-20, August.
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    5. Feliks Arfid Guampe & Muhammad Hasan & Andrian Dolfriandra Huruta & Christine Dewi & Abbott Po Shun Chen, 2022. "Entrepreneurial Literacy of Peasant Families during the COVID-19 Pandemic: A Case in Indonesia," Sustainability, MDPI, vol. 14(19), pages 1-15, September.
    6. Diaconu Amelia & Mocanu Viorel & Popescu Maria Loredana & Dinu Mihai, 2022. "The effects of sustainable economic development on the quality of life in the context of the enlargement of the European Union," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 16(1), pages 317-326, August.
    7. Andreas Kuckertz & Leif Brändle, 2022. "Creative reconstruction: a structured literature review of the early empirical research on the COVID-19 crisis and entrepreneurship," Management Review Quarterly, Springer, vol. 72(2), pages 281-307, June.
    8. Ignat Raluca & Chiripuci Bogdan-Cristian & Pătărlăgeanu Simona Roxana & Constantin Marius & Lazăr Valentin, 2022. "Tackling market opportunities for the biomass production in Romania," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 16(1), pages 327-335, August.

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