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Crisis and turnaround management in SMEs: a qualitative-empirical investigation of 30 companies

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  • Sascha Kraus
  • Petra Moog
  • Susanne Schlepphorst
  • Margit Raich

Abstract

During their life cycles, many companies are confronted with crisis. The aim of this paper is to empirically test theoretical approaches in the case of 30 small and medium sized enterprises (SMEs) from Germany. The presented explorative study contributes gaining a deeper insight how these companies deal with crisis. The interviews were analysed by the qualitative method GABEK that transforms abstract individual unstructured and unorganised texts onto a collective level. Among others, the results show that the personal contact to stakeholders is an added value of SMEs because of their size in order to manage and overcome crisis. Finally, it is shown that crisis can be best overcome by focusing on the core business and growth, in addition to job cuts and reduction of working time.

Suggested Citation

  • Sascha Kraus & Petra Moog & Susanne Schlepphorst & Margit Raich, 2013. "Crisis and turnaround management in SMEs: a qualitative-empirical investigation of 30 companies," International Journal of Entrepreneurial Venturing, Inderscience Enterprises Ltd, vol. 5(4), pages 406-430.
    • Handle: RePEc:ids:ijeven:v:5:y:2013:i:4:p:406-430
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    Citations

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    Cited by:

    1. Natalia García-Carbonell & Fernando Martín-Alcázar & Gonzalo Sánchez-Gardey, 2021. "Facing crisis periods: a proposal for an integrative model of environmental scanning and strategic issue diagnosis," Review of Managerial Science, Springer, vol. 15(8), pages 2351-2376, November.
    2. Hammerschmidt, Jonas & Durst, Susanne & Kraus, Sascha & Puumalainen, Kaisu, 2021. "Professional football clubs and empirical evidence from the COVID-19 crisis: Time for sport entrepreneurship?," Technological Forecasting and Social Change, Elsevier, vol. 165(C).
    3. Susanne Durst & Ann Svensson & Mariano Martin Genaro Palacios Acuache, 2021. "Peruvian Small and Medium-Sized Enterprises in Times of Crisis—Or What Is Happening over Time?," Sustainability, MDPI, vol. 13(24), pages 1-17, December.
    4. Mallika Devi Pathak & Brajaballav Kar & Madhu Chhanda Panda, 2022. "Chaos and complexity: entrepreneurial planning during pandemic," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 12(1), pages 1-11, December.
    5. Ricarda B. Bouncken & Sascha Kraus & Antonio Lucas Ancillo, 2022. "Management in times of crises: reflections on characteristics, avoiding pitfalls, and pathways out," Review of Managerial Science, Springer, vol. 16(7), pages 2035-2046, October.
    6. Sumaira Ashraf & Misbah Sadiq & Paulo Ferreira & António Martins Almeida, 2023. "Intellectual Capital and a Firm’s Sustainable Performance and Growth before and during the COVID-19 Crisis: A Comparative Analysis of Small and Large European Hospitality Firms," Sustainability, MDPI, vol. 15(12), pages 1-18, June.
    7. Espeche, José Francisco Tragant & Sacristán-Navarro, María & Zúñiga-Vicente, José Ángel & Crespo, Nuno Fernandes, 2023. "Innovation and internationalisation during times of economic growth, crisis, and recovery prior to Covid-19: A configurational approach comparing Spanish manufacturing family and non-family firms," Journal of Family Business Strategy, Elsevier, vol. 14(1).
    8. Edgar Rogelio Ramírez-Solis & Mauro Rodriguez-Marin, 2022. "Diffusion Model for Mexican SMEs to Support the Success of Innovation," Sustainability, MDPI, vol. 14(16), pages 1-14, August.
    9. 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).
    10. Calabrò, Andrea & Frank, Hermann & Minichilli, Alessandro & Suess-Reyes, Julia, 2021. "Business families in times of crises: The backbone of family firm resilience and continuity," Journal of Family Business Strategy, Elsevier, vol. 12(2).

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