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Mikušová, Marie, Václav Friedrich, and Petra Horváthová. "Who is More Sustainable? Family Business or Non-Family Business? Czech Evidence." Sustainability 12, no. 14 (July 9, 2020): 5540. http://dx.doi.org/10.3390/su12145540.
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The aim of this research was to find out whether family businesses create better opportunities for their economic sustainability in comparison with non-family businesses. That is, whether family businesses are more responsible in preparing for crises than non-family businesses. Having a sustainable business means being prepared for potential threats of all kinds. Research was carried out in 2019 on a sample of 2300 family and non-family enterprises. On the basis of statistically processed results, a minimum of significant differences in preparation for the crisis was identified. Even the basic hypothesis about a more responsible approach by family businesses to prepare for the crisis could not be accepted. It could not be noted that family businesses are building better conditions for their economic sustainability. The implication for praxis is to encourage owners to involve the family more in the preparation for crises, including development of formalised tools. Predetermined tools will help in solving crises that threaten the source of livelihoods of the whole family. The comparison of family and non-family businesses in this area, as yet unexplored, has the potential to contribute to the deepening of research in both crisis management and family business, which is the main contribution to the theoretical field.
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AĞIN, Kaya. "CRISIS AND CRISIS MANAGEMENT IN ORGANIZATIONS, THE IMPORTANCE OF CRISIS AND CRISIS LEADERSHIP, THE EFFECTS OF THE COVID-19 PANDEMIC CRISIS PROCESS ON THE TURKISH ECONOMY." ATLAS JOURNAL 7, no. 44 (September 24, 2021): 2214–26. http://dx.doi.org/10.31568/atlas.779.
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Crisis (crisis) are difficult situations that threaten the high-level goals and business methods of an organization, or put the organization's existence in a dangerous situation, require quick decisions, and neutralize problem prevention systems. In other words, crisis can be defined as an unexpected situation or events that have an unexpected outcome (Sikich, 2002). Crises are a turning point for businesses by enabling organizations to gain new experiences and acquire new knowledge, and to turn this situation into an opportunity (Demirtaş, 2000). The ability of organizations to achieve their goals and to maintain their existence depends on their ability to adapt to their environment and to regulate their business skills depending on the expectations of the environment. The constantly changing environment creates major problems for businesses that cannot adapt to these changes and cannot balance. The success of organizations depends to a large extent on their ability to recognize and assess these dangers beforehand. Organizations can face many threats that can come from within the business or from the business environment. Because of its negative effects, organization managers' ability to cope with these threats is of great importance for businesses (Can, 2002). Organization managers' leadership, experience, knowledge and skills are most needed in times of crisis. Because the most important responsibility of a leader manager is to successfully prevent the crisis that occurs in the organization. Managers exist to manage unexpected conditions and solve problems in organizations. For this reason, administratorship is the problem management process in organizations. The manager is the person who prevents this problem. Therefore, leading managers appear and show themselves especially in times of crisis (Peker & Ayturk, 2000). In this study, the characteristics of the crisis in organizations, the reasons for the emergence of the crisis and the crisis management processes in organizations are mentioned. Crisis management processes of organizations in potential crisis situations are examined.
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Harcar, Talha, and John Spillan. "Are Vietnamese Businesses Ready for a Crisis? An Analysis of Crisis Readiness among Vietnamese Businesses." Journal of International Business and Economy 20, no. 2 (December 1, 2019): 97–122. http://dx.doi.org/10.51240/jibe.2019.2.5.
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Crisis management is a management function that tries to mitigate the impact of crisis events when they occur in a business or organization. Since crises are inevitable, it is important that businesses and organizations have crisis management plans ready for the eventuality of a crisis. Little has been written about crisis in emerging nations. As such, this exploratory study investigates the perceptions and experiences of Vietnamese managers regarding crisis preparedness. The results indicate that a majority of the organizations do not have formal crisis management plans. The results of this study suggest that crisis planning at both the organizational and individual level are needed among Vietnamese businesses.
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Shayb, Hezi, and Radu Muşetescu. "Business Strategy during Crisis." Proceedings of the International Conference on Business Excellence 14, no. 1 (July 1, 2020): 263–72. http://dx.doi.org/10.2478/picbe-2020-0025.
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AbstractDrawing from a body of strategic management literature, we explore the approaches proposed by theory and available to business decision makers during crisis. We argue that there is no real theory of success of management during crisis but only broad principles that should be followed. In a certain sense, experience and intuition – what could be called soft skills – are as important as hardcore economics. Moreover, the metrics of measuring crisis and the impact of decisions during such circumstances are to be further explored and divided in a comprehensive taxonomy. Despite its popular use, crisis management is at the start of its development. The authors advance both an approach as well as a tool for supporting decisions during business crisis.
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NALÇACIGİL, Emre, and Ahmet Fatih ÖZYILMAZ. "Crisis Management and Early Warning Systems in Enterprises." ISPEC International Journal of Social Sciences & Humanities 4, no. 4 (September 5, 2020): 387–437. http://dx.doi.org/10.46291/ispecijsshvol4iss4pp387-437.
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The crisis indicates negativity. This negativity can occur at different degrees and levels. For enterprises, the crisis includes every situation that can reduce the profitability of businesses and even threaten the existence of the business. Accordingly, conflicts within the enterprise, separation of the personnel from the enterprise, not finding new personnel, not finding raw materials, market losses, problems with suppliers or distributors, and most importantly, the political or economic problems that the country or the world may experience, and their negative effects on the business as crisis. It can be considered. Crises are time of danger, but they are also moments that can be turned into opportunities. Organizations can benefit from the crisis when they are ready for the crisis and implement the strategic goals they have developed rapidly. As a result, the crisis can be defined as the process during which organizations and administrations pass a good test. The purpose of this study is to define the concept of crisis, to reveal the crisis management issue in businesses, to evaluate the theories on this subject and to examine the situation in practice with a field study on the subject. The best way to deal with crises is to take precautions to ensure that crises never arise. In this regard, the concept of crisis has been defined in the first part of the study and detailed information about the crisis has been given. In this section, the internal and external factors of the crisis, the stages of its formation, possible positive and negative consequences are discussed in detail. In the second part, crisis management and how it is more effective and easier to get out of the crisis, the crisis management process, types and approaches are extensively studied. In the last section, Crisis exit strategies and early warning systems are evaluated.
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Murphy, Sean M., Daniel L. Friesner, and Robert Rosenman. "Business Firms' Responses to the Crises of 2009." International Journal of Social Ecology and Sustainable Development 5, no. 1 (January 2014): 92–110. http://dx.doi.org/10.4018/ijsesd.2014010107.
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In 2009 firms faced both economic uncertainty and influenza outbreaks. Both crises posed large costs for firms; however, the manner in which they were perceived by management to affect the organization potentially differed. Using generalized maximum entropy (GME) the authors analyzed a business outlook survey of Seattle, Washington area businesses. Overall, firms were more proactive in responding to the economic crisis than to the influenza pandemic, even though the potential costs associated with both were quite large. Among the authors' conclusions is that business managers responded to the economic crisis more because it was more familiar and something over which they thought they had more control.
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Ryakhovskaya, A. N. "TRANSFORMATION OF CRISIS MANAGEMENT IN CRISIS-MANAGEMENT BUSINESS." Strategic decisions and risk management, no. 2 (November 2, 2014): 102–7. http://dx.doi.org/10.17747/2078-8886-2011-2-102-107.
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Nowadays, the requirements to anti-crisis management have remarkably changed, and it is performed in much larger scales. Anti-crisis activities are developed and used at the international, state, regional, municipal management levels, as well as for specific economic entities. New requirements of the time, peculiarities of economic development imply transformation of anti-crisis management into anti-crisis business-regulation – a combination of systems of anti-crisis management at the mega-, macro-, meso- and microlevels, each of which has its own goals, functions, tools and influence methods at stable development of the economics and in crisis conditions.
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BIRKLAND, THOMAS A., and RADHIKA NATH. "Business and Political Dimensions in Disaster Management." Journal of Public Policy 20, no. 3 (December 2000): 275–303. http://dx.doi.org/10.1017/s0143814x00000854.
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A considerable and growing body of crisis management literature seeks to help business managers address disasters. Notwithstanding, the business literature on crisis management fails fully to understand the policy and political aspects of business disasters, and concentrates on prescriptive, managerial issues that show disregard and sometimes disdain for plural democracy. We illustrate our argument with a review of the existing crisis management literature, and three case studies: the Exxon Valdez oil spill, the Jack in the Box E. Coli outbreak, and the crash of ValuJet flight 592. We find that the primary gap in the crisis management literature is its failure to understand the motivations of countervailing interest groups and the facts that mobilize them to take action. We argue that the lessons derived from these cases are equally applicable to North American, European and Asian business crises.
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Majid, Kashef A., David W. Kolar, and Michel Laroche. "Support for small businesses during a health crisis." Journal of Services Marketing 35, no. 5 (April 8, 2021): 671–83. http://dx.doi.org/10.1108/jsm-08-2020-0344.
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Purpose Crises threaten the operations of small businesses and endanger their survival; however, when the crisis is not attributable to the firm, consumers may rally around the business. This study aims to examine how attitudes toward helping others can create support for small businesses, which in turn can direct consumers to help businesses with increased financial support. It is hoped that this paper will inform how consumers will help firms pivot during crises. Design/methodology/approach A conceptual model was proposed which linked support for helping others to increased willingness to tip/amount tipped. The model was tested using structural equation modeling from two surveys given to customers of two small businesses, a coffee shop and an independent movie theater, respectively. Findings During a crisis, support for helping others has a positive impact on feelings of support for small businesses. Consumers direct their support to small businesses that they are interested in seeing survive and continue operations. They either tip more or tip when they otherwise would not have tipped. Practical implications Firms that pivot their operations because of a crisis imposed on them can still generate revenues. Consumers who have a self-interest in the continuing operations of the firm want to support it, and by pivoting their business model, the firm gives consumers the opportunity to give the firm and its employees more than they would have in the form of tips. Originality/value Prior work in crisis management has focused primarily on how firms recover and respond to a crisis of their doing. Overwhelmingly, consumers have been shown to punish firms during times of crisis. However, for a crisis that is imposed on the firm, consumers may rally behind the firm and respond by supporting it more than they are required to.
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Andirin, Cisil, Miguel Moital, and Carla Pinto Cardoso. "Service failures as organisational crises in business travel: Origins and operational strategies as perceived by events professionals." Revista Brasileira de Pesquisa em Turismo 11, no. 3 (September 14, 2017): 480–502. http://dx.doi.org/10.7784/rbtur.v11i3.1342.
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Justified purpose of the topic: Research on crisis management in the meetings industry only focused on the process of crisis preparedness and the perception of meeting planners towards crises, with little research carried out on the strategies adopted to manage crisis within the meetings industry. Objective: This paper explores crisis management perceptions and practices by meetings professionals from two perspectives: origins of crisis and crisis management strategies. Methodology: The study adopted an exploratory perspective through interviewing 11 Turkish meeting planners who were asked to revisit past crisis experiences through the critical incident technique. Results: Meetings were shown to be highly prone to smaller scale, operational crisis in particular. Therefore, to meeting planners crises are more about service failures than major disruptive events that question the organisation’s existence as per the traditional definition of crisis. Crises are classified using a matrix that considers the source of the crisis (internal/external) and the degree of control (controllable/non-controllable). Meeting planners tend to attribute crises events to others than themselves and perceive them as mostly uncontrollable, related third party suppliers (including venues/hotels) and clients. Crisis management strategies employed in each of the four phases of crisis (prevention/preparation, coping, recovery and learning) were carried out at an individual level, with little formalisation at the organisational level evident. Negative perceptions about the need for formalisation were reflected in the rejection of developing crisis management plans. Originality: This paper contributes to the literature by demonstrating that crisis management frameworks can be employed to examine crises that are essentially service failures. As a consequence, the distinction between the notions of service failure and crisis may be artificial rather than real. Therefore, researchers planning studies on crises-service failure should consider looking at both literatures in order to integrate both bodies of knowledge.
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Bartoletto, Silvana, Bruno Chiarini, Elisabetta Marzano, and Paolo Piselli. "Banking crises and business cycle: evidence for Italy(1861-2016)." Journal of Financial Economic Policy 11, no. 1 (April 1, 2019): 34–61. http://dx.doi.org/10.1108/jfep-03-2018-0055.
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Purpose This paper aims to focus on the banking crises recorded in Italy in the period 1861-2016 and to propose a novel classification based upon the timing of the crisis with respect to the business cycle. Design/methodology/approach A simple and objective rule to distinguish between slowdown and inner-banking crises is introduced. The real impact of banking crises is evaluated by integrating the narrative approach with an empirical vector autoregression analysis. Findings First, banking crises are not always associated to economic downturns. Especially in Italy, (but this analysis can be easily extended to other countries), they have often limited their negative effects within the financial system (“inner” crises). Second, the simultaneity of macroeconomic effects (credit contraction and GDP recession) leave the causal link undetermined. Third, the empirical and narrative analyses performed testify that boom–bust mechanisms are an exception in the panorama of (Italian) banking crises; although when the economy experiences such episodes, the economic and social consequences are not only severe but also enduring. Research limitations/implications To classify historically recognized banking crisis episodes, the authors look at credit and GDP dynamics (and their ratio) around crisis years. Relying on a single definition of crisis is avoided. The classification provides an empirical rule to determine in what way banking crises differ. The classification is mostly based on the synchronization with the business cycle and, using the documented evolution of macroeconomic aggregates, it permits to highlight the fact that a variety of interactions occur between financial and real aggregates during and around banking crises. Originality/value As to the concept of systemic banking crisis, a qualitative judgment is often adopted to select relevant episodes, thus confirming the absence of a quantitative rule in classification criteria (Chaudron and de Haan, 2014). This paper proposes a simple and objective rule to distinguish between slowdown and inner-banking crises; the former occur close to a GDP contraction, whereas the latter appear to spread their effects with no substantial evidence of output loss.
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Bărbulescu, Oana, Alina Simona Tecău, Daniel Munteanu, and Cristinel Petrişor Constantin. "Innovation of Startups, the Key to Unlocking Post-Crisis Sustainable Growth in Romanian Entrepreneurial Ecosystem." Sustainability 13, no. 2 (January 12, 2021): 671. http://dx.doi.org/10.3390/su13020671.
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This paper aims at identifying the entrepreneurial opportunities for establishing innovative startups during and post COVID-19 crisis. To reach this goal, we conducted an exploratory study based on semi-structured interviews with 168 students who intend to involve themselves in entrepreneurship in their future career. The research started from the debates in literature regarding the huge negative impact of the COVID-19 crisis on economic development, which can jeopardize the achievement of United Nations Sustainable Development Goals. The research findings confirm the results of other studies regarding the vulnerability of startups during crises, the reason why they have to refocus on innovative businesses, especially based on information and communication technology (ICT). Such businesses are considered incentives of sustainable development. Other ideas highlighted the importance of social entrepreneurship for the management of startups. It means that startups should develop strong relationships with employees but also with other stakeholders, like companies in the same industry, the public sector, academia, and citizens. In addition, changing the business culture aiming at developing green business could be an inexpensive solution for developing a sustainable entrepreneurial ecosystem. These empirical results have implications for both business and the academic environment, which should cooperate in order to overcome the crisis. Such an approach could be used in the long run in order to manage other crises and to develop sustainable business.
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Johnstone-Louis, Mary, Bridget Kustin, Colin Mayer, Judith Stroehle, and Boya Wang. "Business in times of crisis." Oxford Review of Economic Policy 36, Supplement_1 (2020): S242—S255. http://dx.doi.org/10.1093/oxrep/graa021.
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Abstract Government bailouts of corporate sectors in the COVID-19 crisis are part of a tripartite arrangement between government, business and institutional investors. Business should respond to the changing preferences of customers, employees and societies by identifying value propositions that justify the provision of risk capital by institutional investors. Critical to this is the determination and implementation of corporate purposes by owners and board directors that focus on inter-generational horizons. Family owners are particularly well placed to do this, but institutional investors need to make it part of their stewardship function as well. Measurement is key and significant reforms are required in the areas of accounting, valuation and reporting. Consistent with these observations, companies that had strong environmental, social and governance records performed better during the initial stages of the crisis, as did family owned firms and those that avoided high levels of leverage prior to the crisis.
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Toporowski, Jan. "International business and the crisis." Critical perspectives on international business 5, no. 1/2 (April 10, 2009): 162–64. http://dx.doi.org/10.1108/17422040910938776.
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Darling, John R. "Crisis Management in International Business." Leadership & Organization Development Journal 15, no. 8 (December 1994): 3–8. http://dx.doi.org/10.1108/01437739410073047.
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Kushnir, Nina, Diana Voitovych, and Olena Gruschenko. "FINANCIAL MONITORING TOOLS OF CRISIS PHENOMENA IN BUSINESS ACTIVITIES." INTERNATIONAL JOURNAL OF NEW ECONOMICS, PUBLIC ADMINISTRATION AND LAW 1, no. 1 (May 15, 2018): 33–41. http://dx.doi.org/10.31264/2545-093x-2018-1(1)-33-41.
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TSAPOVA, Olga Alexandrovna, Valeriia Petrovna KADOCHNIKOVA, Yevgeniy Ivanovich KENDYUKH, Lyudmila Alexandrovna GORKOVENKO, Ruslan Maratovich SHARIPOV, and Nefas SAULIUS. "Risk Management in the System of Tourist Business Control." Journal of Environmental Management and Tourism 12, no. 1 (February 21, 2021): 211. http://dx.doi.org/10.14505/jemt.12.1(49).18.
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Any business is at risk, however, tourism business is the most risky, because it differs in latitude, cause of occurrence and other indicators, and all this accumulates into possible negative results which come after they occur.
Risk management is a planned process in which organizations manage active crises. A crisis is defined as a time of difficulties or danger, and usually this is the time when you need to make difficult or dangerous decisions. By having a plan that describes the crisis management process, organizations can more easily adapt to the crisis.
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Rahahleh, Arwa Hisham, and Majd Mohammad Omoush. "The Role of Business Intelligence in Crises Management: A Field Study on the Telecommunication Companies in Jordan." International Business Research 13, no. 1 (December 19, 2019): 221. http://dx.doi.org/10.5539/ibr.v13n1p221.
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The field of business intelligence and crisis management currently became have become important issues that organization should be concerned about. The aims of the research is to identify the concepts of business intelligence (BI) and crisis management and review the importance of business intelligence in business organizations through the following independent variables (data source - data stores - specialized data - analytical processing- Data and data mining) and its impact on the crisis management stages ( pre-crisis phase, during the crisis phase and post-crisis phase) in the Jordanian telecommunications companies. The study population consisted of employees of the Jordanian telecommunications companies. A simple random sample was selected, to whom (130) questionnaires were distributed and 120 questionnaires were retrieved. The study relied on the descriptive analytical approach (SPSS as statistical analysis). The research concluded that there is a positive significant impact between business intelligence and management crisis in the Jordanian business organizations. This indicates to the interest of these organizations in the tools of business intelligence, especially with regard to the analytical processing of data based on a secure and integrated system in the work environment to manage organization crises.
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Paunović, Blagoje, and Zorica Aničić. "Impact of the COVID-19 crisis on SMEs and possible innovation responses." Ekonomika preduzeca 69, no. 3-4 (2021): 169–84. http://dx.doi.org/10.5937/ekopre2103169p.
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The aim of this paper is to analyze the impact of the COVID-19 crisis on the business operations of small and medium-sized enterprises (SMEs) in Serbia as well as to identify the best ways to overcome the crisis effects and stimulate further SME growth. On a sample of 689 SMEs in Serbia, in the present paper we study the impact of the COVID-19 crisis on both the overall business of firms and certain aspects of their business (demand, logistics, organization of business activities, collection of trade receivables, and access to financing). The results of our research suggest that the crisis effects vary across the SME sector depending on the business activity, size, region an SME operates in, and the extent of achieved business digitalization and networking during the pandemic. Lastly, based on the effects of the COVID-19 crisis on the business operations of SMEs in Serbia and taking into account the experiences of other economies with the COVID-19 crisis as well as the lessons learned from previous crises, in this paper we highlight the significance of innovation and possible innovation responses of SMEs to the crisis effects as the ways to overcome it.
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De Mateo, Rosario, Laura Bergés, and Anna Garnatxe. "Crisis, What Crisis? The Media: Business and Journalism in Times of Crisis." tripleC: Communication, Capitalism & Critique. Open Access Journal for a Global Sustainable Information Society 8, no. 2 (August 28, 2010): 251–74. http://dx.doi.org/10.31269/triplec.v8i2.212.
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The global financial and economic crisis is often used to justify a crisis of media and journalism: lower advertising, collapses in the share price, falls in consumption, more unemployment. But is this just a business crisis, or is it also a crisis in journalism and its role in democratic societies? In this case, is the journalism crisis attributable to the economic crisis or, rather, was it forged during the years of high profitability and high salaries in the mass media? These two sides of the crisis, in media industry and in journalism, are addressed in this article, which explores the evolution of mainly Spanish media in the years before the crisis. However, in order to understand how they reached the current situation, political and economic transformations in what has been called the Information Society and neoliberal globalization must be addressed.
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De Mateo, Rosario, Laura Bergés, and Anna Garnatxe. "Crisis, What Crisis? The Media: Business and Journalism in Times of Crisis." tripleC: Communication, Capitalism & Critique. Open Access Journal for a Global Sustainable Information Society 8, no. 2 (August 28, 2010): 251–74. http://dx.doi.org/10.31269/vol8iss2pp251-274.
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The global financial and economic crisis is often used to justify a crisis of media and journalism: lower advertising, collapses in the share price, falls in consumption, more unemployment. But is this just a business crisis, or is it also a crisis in journalism and its role in democratic societies? In this case, is the journalism crisis attributable to the economic crisis or, rather, was it forged during the years of high profitability and high salaries in the mass media? These two sides of the crisis, in media industry and in journalism, are addressed in this article, which explores the evolution of mainly Spanish media in the years before the crisis. However, in order to understand how they reached the current situation, political and economic transformations in what has been called the Information Society and neoliberal globalization must be addressed.
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Zólyomi, Zsolt. "Crisis Management." Hadmérnök 14, no. 1 (April 8, 2019): 352–70. http://dx.doi.org/10.32567/hm.2019.1.27.
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The security professionals are always talking about Emergency Plan, Emergency Preparedness, Emergency Response, Crisis Management, Crisis Management Plan, Business Continuity Management, Business Continuity Plan. etc. That is a question whichcomes to my mind do we know exactly what these phrases meanings are? My experiences show, usually we have different interpretations on the above mentioned expressions. Briefly we need to have an Emergency Plan to provide our Emergency Preparedness and to be able to take our Emergency Responses in case of a real Emergency situation. If we were able to eliminate the Emergency situation the problemhas been solved. If we had no success the Emergency can be develop a crisis situation which we need to manage by the Crisis Management Plan. As we are over the crisis we need to adopt our Business Continuity Plan to be able to manage our continuous operationor production. The aim of this study to providea useful tool or set up for security leaders on Crisis Management which is a clear security task and not as like Emergency Preparedness which is related to safety organization as Business Continuity is connected to each business functions.
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Jevtić, Petronije, Ljiljana Stošić-Mihajlović, and Robert Latin. "Modern crisis marketing management." Ekonomski izazovi 9, no. 18 (2020): 110–20. http://dx.doi.org/10.5937/ekoizazov2018110j.
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According to the broadest understanding, business crises are threats to a company that create, or have the potential to create, unwanted and negative outcomes in its business. The damage caused by the crisis to the economic entity affected by the crisis includes financial losses (declining income), creating a bad image and reducing the company's reputation, damage to company assets, technological inferiority, losses for interest and influence groups, the so-called. stakeholders of the company. The business crisis is related to the weaknesses that the company has and which further encourage it; when resources and potentials are lacking, leading to a decline in competitiveness or a weakening of market position; when events take place in the environment that are unexpected and unplanned. Thus, a business crisis is an unplanned and unwanted process that endangers or hinders the development of a company, thus putting it in an inferior position in relation to the competition. Therefore, a significant number of crisis situations arise due to the inability of management to anticipate changes that occur in the company environment. This paper will discuss the current crisis in business, which has affected almost the entire economic structure and all companies, with greater or lesser intensity. The crisis is caused by environmental factors due to the COVID-19 pandemic, but it is also a challenge in the use of new tools and methods available to marketing managers in overcoming the crisis in modern conditions.
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Civelek, Mustafa Emre, Murat Cemberci, and Necati Erdem Eralp. "The Role of Social Media in Crisis Communication and Crisis Management." International Journal of Research in Business and Social Science (2147-4478) 5, no. 3 (April 20, 2016): 111–20. http://dx.doi.org/10.20525/ijrbs.v5i3.279.
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Social media and social media tools have improved rapidly and started to influence society especially in recent years. This influence has forced businesses to revolutionize their communication with the external environment. The fact that Web 2.0 has an influence on consumer behavior, and that it makes the consumers stronger; requires faster, more flexible and more sensitive communication processes in businesses. Especially during a time of crisis, a business’ communication with the external environment is quite critical. For this reason, the way how the crisis communication is managed through social media is vital for businesses. In this article, the perceptions of how to manage businesses during a time of crisis so that they make minimum loss, is shared.
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Zakharkin, О., L. Zakharkina, Yu Bilous, and V. Holovata. "ANALYSIS OF THE IMPACT OF THE COVID-19 PANDEMIC CRISIS ON THE FINANCIAL SECURITY OF BUSINESS IN UKRAINE." Vìsnik Sumsʹkogo deržavnogo unìversitetu, no. 4 (2020): 21–28. http://dx.doi.org/10.21272/1817-9215.2020.4-03.
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The article analyzes the impact of the COVID-19 pandemic on business activities in Ukraine and the world and its financial security. The analysis showed that the economy of Ukraine, like most countries in the world, has suffered significant losses from the introduction of anti-epidemic restrictions on business activities, which manifested itself in falling GDP, industrial production index, investment activity. Due to the temporary or complete cessation of business, the unemployment rate has increased significantly. The pandemic crisis also harmed enterprises' financial results, which declined significantly in all economic activities, especially in industry, transport, temporary accommodation, and catering, where the share of unprofitable enterprises reaches 73%. Thus, the problem of ensuring the financial security of business becomes relevant. The work aims to develop methodological approaches to assessing the impact of the pandemic crisis on businesses' financial security and to identify effective ways to ensure such security. The research used scientific abstraction, comparative and systematic analysis and synthesis, systematization, and logical generalization. It was determined that small and medium-sized businesses were most affected by the pandemic, where more than 60% of entrepreneurs had a strong negative impact. Large businesses suffered less, but they also suffered significant losses due to declining business activity and demand in domestic and foreign markets. The pandemic had the least impact on agriculture, which suffered the least losses, primarily due to the slight impact of restrictions on this business's activities. The paper systematized the risks arising from the pandemic crisis factors and identified their manifestations and financial consequences for the business. Studies have shown that such effects manifest themselves in the form of total or partial loss of profits, problems with debt repayment, reduced financial stability, liquidity, increased receivables, increased costs of anti-epidemic measures, and so on. Thus, the procedure for assessing the business's financial security is to take into account all the factors that shape the financial position of businesses during a pandemic crisis.
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King, Michael, Anthony Marshall, and David Zaharchuk. "Responding to the global skills crisis." Strategy & Leadership 45, no. 2 (March 20, 2017): 33–41. http://dx.doi.org/10.1108/sl-02-2017-0015.
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Purpose An IBM survey of business, government and education leaders concluded that if left unresolved, an emerging global skills crisis will likely have profound effects on businesses and economies worldwide. Design/methodology/approach To gauge current skills challenges and assess future needs, the IBM Institute for Business Value in cooperation with Oxford Economics surveyed more than 5,600 global executives representing 18 industries and 48 countries Findings Fifty-five percent of all executives surveyed conclude that inadequate investment from private industry is the most important challenge to overcome in addressing skills development in the future. Practical implications Personalized learning, powered by data-driven cognitive technologies, can enable personalized education – allowing individuals to readily take more responsibility over their skills future and improve outcomes for stakeholders across the business ecosystem. Originality/value Sixty-nine percent of industry executives from outperforming companies…indicate their organizations are already collaborating with ecosystem partners to address skills-related issues, as opposed to less than half of lower performing businesses.
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Mura, Ladislav. "INNOVATIONS AND MARKETING MANAGEMENT OF FAMILY BUSINESSES: RESULTS OF EMPIRICAL STUDY." International Journal of Entrepreneurial Knowledge 8, no. 2 (December 31, 2020): 56–66. http://dx.doi.org/10.37335/ijek.v8i2.118.
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During pandemic and economic crises, business units are under constant pressure and face many challenges to find solutions for. Family businesses form a significant segment of the business sector. Competition and the current crisis force businesses to find solutions for sustainable entrepreneurship. Family businesses are gradually consolidating their position in the business environment, especially by introducing a personal approach to the customer (pro-customer orientation) and innovative activities. The concept of innovative marketing (INMARK) represents businesses' opportunity to establish themselves on the market more successfully than their competitors. This work aimed to verify the possibility of applying the concept of INMARK in the segment of small and medium-sized enterprises of family type as an innovative form of marketing management during the crisis. In addition to theoretical approaches, we rely on empirical data obtained by quantitative research in the business environment. In methodological terms, we applied hypothesis testing. As a part of the applied methodology, we verified the applicability of the INMARK concept in the real business environment. Based on the research results obtained, we can conclude that the pillars of the INMARK concept (product innovation, active application of marketing activities) have a positive response among the representatives of the younger generation of family business management, which can contribute to the successful management of these specific business units.
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Arnold, Denis G., and Robert Kolb. "Business Ethics Quarterly: Business Ethics and the Credit Crisis." Business Ethics Quarterly 18, no. 4 (October 2008): 597–98. http://dx.doi.org/10.1017/s1052150x0001318x.
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Fragouli, Evangelia. "Leading in Crisis & Corporate Reputation." Risk and Financial Management 2, no. 1 (June 23, 2020): p62. http://dx.doi.org/10.30560/rfm.v2n1p62.
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Most of the existing business models cannot meet the requirement for high instability or consider potential crises underlying the business environment. As a result, many traditional business models have been changed partially or even completely in face of a crisis. Especially, the crisis of credibility may pose an impact on the business activities of the enterprise and even cause a devastating consequence. However, effective leadership can reduce this impact and help the enterprise gain consumer acceptance. This paper, through a critical literature review methodology, explores ‘how’ leadership underpins corporate reputation in a crisis situation reviewing also the key factors influencing leadership effectiveness in such stressful situations. The study concludes that the leadership role is important in supporting the corporate reputation in a crisis situation, a good reputation helps corporations to gain the trust of consumers and reduce the losses caused by the crisis, enterprises in crisis should choose appropriate leadership style so that leaders to create a culture that could predict threats and risks, to incorporate crisis management practices into operations, and to integrate potential risk and vulnerability assessments into the process of strategic debate and planning to prevent reputational damage.
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Varelas, Sotirios, and Nikolaos Apostolopoulos. "The Implementation of Strategic Management in Greek Hospitality Businesses in Times of Crisis." Sustainability 12, no. 17 (September 3, 2020): 7211. http://dx.doi.org/10.3390/su12177211.
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The aim of this research was to explore the implementation of strategic management approaches in Greek tourism and hospitality businesses during economic crises, in order to further expand our current knowledge of operating in a turbulent environment and embracing novel aspects by linking economic crises with the current literature on the COVID-19 pandemic. This research emphasizes the connection between the strategic management approaches of 131 tourism organizations and hospitality business performance by analyzing entrepreneurs’ opinions and hospitality business markets. The results reveal that a significant percentage of the participants understand and use some strategic management procedures, and some strategy in general, but there is a lack of a concrete strategy for managing the turbulent environment caused by an economic crisis. However, a large percentage of small tourism businesses are completely unaware of strategic management approaches, and their knowledge of implementing a strategy during an economic crisis is limited. The practical implications of this research can act as a navigator of the economic consequences caused by the COVID-19 pandemic.
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Spradley, R. Tyler. "The Onslaught of Crisis Leadership Advice: Sifting Through Popular Leadership Sources in the COVID-19 Era." Proceedings of the International Crisis and Risk Communication Conference 4 (2021): 52–55. http://dx.doi.org/10.30658/icrcc.2021.13.
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This study critiques COVID-19 crisis leadership discourse in authoritative sources for leadership advice including Entrepreneur, Forbes, Fortune, Harvard Business Review, Harvard Business School’s COVID-19 Business Impact Center, and Real Leaders. Two central lines of inquiry drive this study: First, what are the pervasive practice-based recommendations typified in COVID-19 crisis leadership discourse? Second, whose interest does the COVID-19 crisis leadership discourse serve? Conclusions question the widespread practicality of advice and argue that advice functions to reassert the power dynamic of authoritative texts and super leaders over popular crisis leadership press. Furthermore, advice tends to promote command-and-control leadership with implications for taking advantage of the chaotic, vulnerable moments of crises to promote undemocratic change.
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Yordanova, D. "Study of the factors, symptoms and causes of crisis in certain business organizations in Veliko Tarnovo." Trakia Journal of Sciences 18, no. 3 (2020): 238–43. http://dx.doi.org/10.15547/tjs.2020.03.009.
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Organizational crises can be prevented and managed if the risk factors, symptoms, and causes of their occurrence are known. The factors of the financial crisis are external and internal. Symptoms appear in the financial and economic indicators, and their trends reflect the functioning and development of the organization. They are just an external manifestation of the beginning of a crisis situation, but the reasons for its occurrence lead to the crisis itself. The development of the events under the "risk - causes - crisis situation - unwanted consequences" is a logical process of realization of the potential danger of a crisis. The subject of the study is the factors, the symptoms and the occurrence of crises in the organizations. The aim of the study is to justify the relation management of organizational crises and the reasons for their occurrence. Methods of research: questionnaire, the study of the relations management of organizational crises and the reasons for their occurrence, analysis of the results, conclusions. Scope of the survey: The survey was conducted in 2018. It included five companies from the construction sector in Veliko Tarnovo. Results: The results show that the main factors for crisis occurring, in the first place, according to the surveyed companies, are the organizational faults and in the second place is the technical fault. Their views on the barriers to the more efficient management of organizational crises are united. As such, they indicate mainly the limited budget.
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Sheth, Jagdish. "Business of business is more than business: Managing during the Covid crisis." Industrial Marketing Management 88 (July 2020): 261–64. http://dx.doi.org/10.1016/j.indmarman.2020.05.028.
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Botavina, R. N. "On the question of the system approach in small business." Entrepreneur’s Guide 14, no. 2 (April 30, 2021): 44–50. http://dx.doi.org/10.24182/2073-9885-2021-14-2-44-50.
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The paper discusses the feasibility and effectiveness of using system theory in small business in times of crisis. The article states that the theory and practice of a systemic approach was previously used to increase the efficiency of large enterprises and organizations. The author proposes the application of the principles and methods of system theory for small businesses, and also emphasizes the need to increase the level of economic and financial literacy of entrepreneurs in small businesses, especially during crises.
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Abramova, Irina. "Anti-Crisis Personnel Management in the Modern Realities of Business Development." Modern Economics 24, no. 1 (December 16, 2020): 6–11. http://dx.doi.org/10.31521/modecon.v24(2020)-01.
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Annotation. Introduction. The main problem of modern crisis management is associated with the lack of preventive crisis management practices of socio-economic systems, resulting in a set of emergency response measures: staff reductions, salary cuts, curtailment of training programs and staff development, which destroys the foundation of the organization – human capital. Purpose. At the same time, there are certain problematic and debatable points in terms of the formation of anti-crisis management of human resources in terms of theory and practice. Results. Accordingly, the article forms approach to the interpretation of the concept of crisis management of personnel in terms of discussion aspects such as definition, elements, principles and functions, stages. It is determined that anti-crisis personnel management is considered in terms of preventive, reactive and comprehensive approach depending on the situation in the personnel system of the enterprise. The author’s definition of “anti-crisis personnel management” is formed, which means a type of management activity that includes a set of specific functions, forms, methods and means of preventive and reactive management influence on human resources, aimed at identifying crisis phenomena, preventing crisis, its localization and liquidation; minimization of its negative impact on the further development of the enterprise. It is proved that anti-crisis personnel management is a type of anti-crisis management, ie it is characterized by specific methods, subjects and tools. The causes of personnel crises are systematized and the varieties depending on the situation in the personnel and personnel policy of the enterprise are singled out. Conclusions. Regardless of the source (external or internal), the crisis is always accompanied by extremely negative phenomena for both the organization and staff: falling production and sales, financial insolvency, a clear deterioration in the financial situation of workers, lack of employment guarantees, uncertainty of the future, lack of initiative, etc. Therefore, the issues of forming an effective system of anti-crisis personnel management, based on a clear mechanism and tools for personnel management, are relevant. Keywords: anti-crisis management; personnel; principles of anti-crisis personnel management; functions and methods of management.
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Briciu, Sorin, Constantin Groza, and Alina Putan. ""Small Business Development During The Crisis "." Annales Universitatis Apulensis Series Oeconomica 2, no. 14 (December 31, 2012): 320–33. http://dx.doi.org/10.29302/oeconomica.2012.14.2.2.
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Ganeshan, Swati. "Business Interests and the Environmental Crisis." Journal of Resources, Energy and Development 13, no. 1-2 (April 9, 2018): 63–64. http://dx.doi.org/10.3233/red-131206.
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Beqiri, Genti. "Innovative Business Models and Crisis Management." Procedia Economics and Finance 9 (2014): 361–68. http://dx.doi.org/10.1016/s2212-5671(14)00037-9.
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Aguayo, A. J. "Canada's Crisis: Can Business Rescue Science?" Science 275, no. 5297 (January 10, 1997): 139–0. http://dx.doi.org/10.1126/science.275.5297.139.
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Powell, Larry, and William R. Self. "Government Sources Dominate Business Crisis Reporting." Newspaper Research Journal 24, no. 2 (March 2003): 97–106. http://dx.doi.org/10.1177/073953290302400207.
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Secor, John R. "A Growing Crisis of Business Ethics." Serials Librarian 13, no. 2-3 (January 27, 1988): 67–84. http://dx.doi.org/10.1300/j123v13n02_08.
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Boffo, Marco, and Michael Haynes. "Global labour, global business, global crisis." International Journal of Management Concepts and Philosophy 6, no. 1/2 (2012): 1. http://dx.doi.org/10.1504/ijmcp.2012.047204.
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Drummond, Helga, and Elizabeth Chell. "Crisis Management in a Small Business." Management Decision 32, no. 1 (February 1994): 37–40. http://dx.doi.org/10.1108/00251749410050688.
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Serrano, S., R. Barrio, A. Dena, and M. Rodríguez. "Crisis curves in nonlinear business cycles." Communications in Nonlinear Science and Numerical Simulation 17, no. 2 (February 2012): 788–94. http://dx.doi.org/10.1016/j.cnsns.2011.06.022.
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Krulicky, Tomas, Jakub Horak, and Kristyna Skulcova. "Business valuation in times of crisis." SHS Web of Conferences 91 (2021): 01039. http://dx.doi.org/10.1051/shsconf/20219101039.
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Business valuation is very important and complex process, mainly in the current global situation. To determine the company value, we will base our calculations on an analysis of the internal environment of the company, which is affected by macroeconomic and microeconomic influences. The aim of this paper is to determine the value of a selected company using FCFF in an environment of negative and unplanned interventions in the economy. The main source for determining the value of the company is data obtained from the financial statements and annual reports of the limited liability company Pepco, s.r.o. from the period of 2013-2018. The method applied to the selected company is the discounted cash flow method, which is one of the most popular and most frequently used earnings methods. In the first years before the company became known on the Czech market, the value of the FCFF was more often than not in negative numbers. This also affected the value of the business. During next years, with the stable growth of the company, the value of the company also grew. We can expect that due to the global problem of COVID-19, the value of the company will decrease in 2020, but it will not have a very significant effect on its overall value.
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Peregudov, S. "Crisis of Russian Business' Corporate Model." World Economy and International Relations, no. 5 (2010): 32–43. http://dx.doi.org/10.20542/0131-2227-2010-5-32-43.
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The article gives an overview of the factors that precondition the aggressive expansion of big corporate business (mostly of companies – raw materials producers) and, at the same time, stagnation in development of small and medium enterprises. The disproportions caused by these anomalies together with hierarchical character of relations between the State and the business sector greatly reduce the investment potential and the scope of Russian private and state companies’ innovative activities. The author sees the transition from a hierarchical model of business-State relations to a more balanced partnership interaction as a solution to the arising problems.
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Gylys, Povilas. "ANTIECONOMY, ECONOMY CRISIS AND CRISIS OF ECONOMICS." Ekonomika 90, no. 4 (January 1, 2011): 18–33. http://dx.doi.org/10.15388/ekon.2011.0.927.
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The gist of this article is the idea that the orthodox theory of economic crisis unduly reduces its subject to business crisis and that it is the outcome of the narrowness and limitedness of the individualistic economic approach to the problem, employed mostly by neoliberals and libertarians. As individualists (the individualistic camp) explicitly or implicitly identify economy with market, their perception of an economic crisis is reduced to business crisis, crisis of the production of private goods. However, the concept of economy is broader than that of the market; thus, an economic crisis cannot be reduced to a business crisis. In addition, the theory of economic crisis could be enriched by the concept of anti-economy, which does not fit the individualistic economic paradigm. Therefore, a correction of the theory of economic crisis is needed, and this correction should be done in a holistic cognitive framework. Holism opens the possibility (which doesn’t automatically guarantee cognitive success) to look at the economic crisis through a wider lens, to perceive it as a whole. The shift from individualistic reductionism to holism allows us to see a correlation between cognitive crisis and crisis in real economy, and to introduce the concept of systemic crisis.
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Svoboda, E. "New approaches to the solving of economic crisis in business management." Agricultural Economics (Zemědělská ekonomika) 55, No. 7 (August 6, 2009): 307–13. http://dx.doi.org/10.17221/50/2009-agricecon.
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The paper presents the results of the research focused on crisis management, which is based on the process of change management by the author-formulated methodology of the creation, implementation and changes of business strategies and requirements for their improvement due to the incidence of a turbulent management environment and other essential factors. The main factors of crisis and methods of their analysis are formulated. Thereinafter, the strategies of solving crisis situations are formulated. The company Bioveta, Inc. is analysed in detail. The research has proved that companies with modern management need a well-made and working system of crisis management due to their complexity and risks.
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Savchenko, Maryna, and Olga Shkurenko. "FORMATION OF THE MECHANISM OF ANTI-CRISIS MANAGEMENT BY INTERNATIONAL ENTITIES." Economic Analysis, no. 30(4) (2020): 74–83. http://dx.doi.org/10.35774/econa2020.04.074.
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Introduction. The objective pattern of development of any socio-economic system is cyclical, which includes the crisis phase. This phase is especially evident in the current conditions of functioning of international business entities in various fields and industries. A review of scientific publications has demonstrated the fragmentary nature of research on the formation of an anti-crisis mechanism for managing international business entities. That is why the problem of studying the possibilities of survival in the economic crisis and the application of an effective mechanism of crisis management is one of the most pressing today. Purpose. The purpose of the article is to develop theoretical and methodological provisions for improving the substantive characteristics of the mechanism of crisis management of international business entities. Method (methodology). The article uses a number of general scientific research methods, including monographic method, methods of scientific abstraction and generalization, dialectical method, induction and deduction provided gradual refinement of structural elements of the mechanism of crisis management in modern conditions. Results. It is proved that the crisis is derived from the cyclical nature of the reserves of the economy, which on the one hand causes a real threat of bankruptcy for international businesses in a period of declining production, and on the other - is an objective prerequisite for their further growth and development. The periods of development of the crisis of the subjects of international business are formed and the managerial, financial and economic-legal crisis are singled out accordingly. The article proposes to understand the crisis of international business entities as a set of situations caused by exogenous and endogenous factors that upset the balance of the international business entity, and over time may lead to changes in organizational, economic and production mechanism of its operation. The authors of the article build a mechanism of anti-crisis management of international business entities, which is a set of elements, technologies and tools that provide prediction of crisis danger, symptom analysis, and identify measures to reduce the negative effects of the crisis for international business entities and the use of factors for their further development. The constituent elements of the mechanism of anti-crisis management of international business entities are grouped into six blocks: crisis diagnosis; selection and substantiation of influencing factors to determine the signs of crisis; determination of the phase (stage) of the life cycle of an international business entity; determining the type of crisis management; selection and substantiation of indicators for crisis diagnosis; implementation of crisis management. The proposed mechanism allows to bring international business entities out of crisis situations and ensure the stabilization of their financial condition.
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Sarkisyan, Jacqueline M., and Maya A. Tikhonova. "THE INFLUENCE OF FACTORS OF ECONOMIC UNCERTAINTY ON THE FUNCTIONING OF SMALL BUSINESSES." Scientific Review. Series 1. Economics and Law, no. 6 (2020): 5–21. http://dx.doi.org/10.26653/2076-4650-2020-6-01.
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The article examines aspects of the current economic situation of uncertainty caused by the consequences of the pandemic, and how it affected the development of small businesses in Russia, including the results of a comparative analysis of the functioning of small businesses in other countries. The factors of influence, including a special group of threat factors, are high-lighted on the basis of a specially conducted survey of Russian small enterprises, which makes it possible to more reasonably highlight priorities in the development of anti-crisis manage-ment measures, taking into account the need to implement accelerated digitalization and change business models. Due to the fact that the world is experiencing a crisis of a huge scale, for which it was not ready, and after almost a year, there are no proposals for effective recovery strategies (overcoming) local, individual crises caused by the COVID-19 pandemic, this fact confirms the conclusion about the fact that it is necessary to consider uncertainty, and not risks in the study of crisis behavior of small business.