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Sink or Swim? Impacts of Management Strategies on Small Business Survival and Recovery

Author

Listed:
  • Maria I. Marshall

    (Agricultural Economics, Purdue University, West Lafayette, IN 47907, USA)

  • Holly L. Schrank

    (Professor Emeritus of Consumer Sciences and Retailing, Purdue University, West Lafayette, IN 47907, USA)

Abstract

The rate of small business demise is exacerbated by exogenous events such as natural disasters that threaten even the healthiest business. This study focused on the effects of management strategies used by small business owners affected by a natural disaster and the resulting recovery status eight years after Hurricane Katrina. The results indicate that location, human resource, and financial management decisions affect operating status and recovery. Both pre-and post-disaster strategies and across system exchanges were utilized and predicted survival and recovery, e.g., financial managerial strategies utilized post disaster predicted whether a business would fully recover, but effective overall management strategies differed over time and operating category.

Suggested Citation

  • Maria I. Marshall & Holly L. Schrank, 2020. "Sink or Swim? Impacts of Management Strategies on Small Business Survival and Recovery," Sustainability, MDPI, vol. 12(15), pages 1-21, August.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:15:p:6229-:d:393713
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    References listed on IDEAS

    as
    1. Tomoko Hiramatsu & Maria I. Marshall, 2018. "The Long-Term Impact of Disaster Loans: The Case of Small Businesses after Hurricane Katrina," Sustainability, MDPI, vol. 10(7), pages 1-15, July.
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    4. Maria Marshall & Linda Niehm & Sandra Sydnor & Holly Schrank, 2015. "Predicting small business demise after a natural disaster: an analysis of pre-existing conditions," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 79(1), pages 331-354, October.
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    10. Sandra Sydnor & Linda Niehm & Yoon Lee & Maria Marshall & Holly Schrank, 2017. "Analysis of post-disaster damage and disruptive impacts on the operating status of small businesses after Hurricane Katrina," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 85(3), pages 1637-1663, February.
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    Cited by:

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