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Which crisis strategies are (expectedly) effective among SMEs during COVID-19?

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  • Klyver, Kim
  • Nielsen, Suna Løwe

Abstract

We investigate COVID-19 as a disabling and an enabling mechanism for small and mid-size enterprises (SMEs), particularly how SMEs’ crisis strategies might help them through the crisis. SMEs can follow a retrenchment strategy, a persevering strategy, or an innovation strategy, and they can do so narrowly or broadly. Using a representative sample of Danish SMEs, we test how crisis strategies are associated with turnover expectations. We find distinct differences in how effective crisis strategies are linked to turnover expectations, depending on how the crisis affected the SMEs in the first place (i.e., the SMEs were crisis victims, crisis immunes, or crisis exploiters).

Suggested Citation

  • Klyver, Kim & Nielsen, Suna Løwe, 2021. "Which crisis strategies are (expectedly) effective among SMEs during COVID-19?," Journal of Business Venturing Insights, Elsevier, vol. 16(C).
  • Handle: RePEc:eee:jobuve:v:16:y:2021:i:c:s2352673421000512
    DOI: 10.1016/j.jbvi.2021.e00273
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    Cited by:

    1. Klyver, Kim & Steffens, Paul & Nielsen, Suna Løwe, 2023. "Crisis response efficacy: Perceived ability to respond entrepreneurially to crises," Journal of Business Venturing Insights, Elsevier, vol. 20(C).
    2. Staples, Aaron J. & Deming, Kristopher & Malone, Trey & Carpenter, Craig W. & Weiler, Stephan, 2024. "Pouring the Paycheck Protection Program into craft beer: PPP employment effects in service-intensive industries," Journal of Business Venturing Insights, Elsevier, vol. 21(C).
    3. Anna Trunk & Hendrik Birkel, 2022. "No Resilience Without Partners: A Case Study on German Small and Medium-Sized Enterprises in the Context of COVID-19," Schmalenbach Journal of Business Research, Springer, vol. 74(4), pages 537-574, December.
    4. Issah, Wunnam Basit & Anwar, Muhammad & Clauss, Thomas & Kraus, Sascha, 2023. "Managerial capabilities and strategic renewal in family firms in crisis situations: The moderating role of the founding generation," Journal of Business Research, Elsevier, vol. 156(C).
    5. Rob Kim Marjerison & Jong Min Kim, 2022. "MSE Response during Times of Crisis: The Roles of Budgeting Micro Functions and Guanxi," Sustainability, MDPI, vol. 14(17), pages 1-19, September.
    6. 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.
    7. Davidsson, Per & Gruenhagen, Jan Henrik, 2022. "Two types of entrepreneurship process research revisited: Solidifying the evidence and moving forward," Journal of Business Venturing Insights, Elsevier, vol. 18(C).
    8. Davidsson, Per & Sufyan, Muhammad, 2023. "What does AI think of AI as an external enabler (EE) of entrepreneurship? An assessment through and of the EE framework," Journal of Business Venturing Insights, Elsevier, vol. 20(C).
    9. Kusa, Rafał & Duda, Joanna & Suder, Marcin, 2022. "How to sustain company growth in times of crisis: The mitigating role of entrepreneurial management," Journal of Business Research, Elsevier, vol. 142(C), pages 377-386.

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