Crises and entrepreneurial opportunities: Digital social innovation in response to physical distancing
TL;DR: In this paper, the authors show that negative societal consequences of COVID-19 can be buffered by shifts in entrepreneurs' strategic orientation through improvised venturing, rapid pivoting and pro-social product extension.
About: This article is published in Journal of Business Venturing Insights.The article was published on 2021-06-01 and is currently open access. It has received 34 citations till now. The article focuses on the topics: Social relation & Entrepreneurship.
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TL;DR: Wang et al. as discussed by the authors employed a generalized method of moment technique and investigated the connection between product market competition and Chinese firm performance, and concluded that market competition positively and significantly affected business firms' performance.
Abstract: The product market competition has become a global challenge for business organizations in the challenging and competitive market environment in the influx of the COVID-19 outbreak. The influence of products competition on organizational performance in developed economies has gained scholars’ attention, and numerous studies explored its impacts on business profitability. The existing studies designate mixed findings between the linkage of CSR practices and Chinese business firms’ healthier performance in emerging economies; however, the current global crisis due to the coronavirus has made product market completion fierce, which ultimately affects business firms’ performance. This study focuses on this logical global challenge, investigates the rationale, and examines product-market completion impact on firms’ performance operating in the Chinese markets. The study collected data from the annual reports of Chinese business organizations with A-share listing and registered with the database of China Stock Markets and Accounting Research (CSMAR). The study employed a Generalized Method of Moment technique and investigated the connection between product market competition and Chinese firm performance. The empirical analysis of this study highlights the conclusion that market competition positively and significantly affected business firms’ performance. This study specified that product market competition play a dynamic and indispensable role in achieving healthier firm performance in the Chinese markets. This study provides valuable insights on practical implications and future research directions for the scholars to draw interesting results with new study models.
62 citations
TL;DR: In this article , the authors examine the relationship between entrepreneurship and COVID-19 through an integrative review analyzing 79 existing studies on the topic and posit a novel framework for postcrisis recovery, identifying three phases of activity: business resumption, crisis impact analysis, and future review and modification.
Abstract: The COVID-19 pandemic substantially influenced the world economy, affecting entrepreneurs and SMEs alike. This paper critically examines the relationship between entrepreneurship and COVID-19 through an integrative review analyzing 79 existing studies on the topic. We posit a novel framework for postcrisis recovery, identifying three phases of activity: business resumption (the decision to restart operations following a crisis), crisis impact analysis (understanding how the firm has changed as a result of the crisis), and future review and modification (examining how businesses need to move forward in the latter days following a crisis). Further, we call for additional entrepreneurship research embedded in a crisis environment, with the hope that new scholarship in this regard will provide a chance to increase awareness of the critical role of entrepreneurial management in society.
33 citations
TL;DR: In this article, the authors offer research-based insights focused on the three stages in a post-crisis recovery (i.e., business resumption, crisis impact analysis, and future evaluation and modification) to shed light on new trends in crowdfunding context.
22 citations
TL;DR: Li et al. as discussed by the authors studied the role of small businesses' cognitive characteristic in determining the reopening of businesses during the COVID-19 pandemic and found that entrepreneurs with higher level of alertness were less likely to reopen their businesses after the lockdowns were lifted.
21 citations
Cites background from "Crises and entrepreneurial opportun..."
...…same old way but instead are more likely to pivot their businesses given the new situation and the associated new opportunities under the pandemic (e.g., digital Journal of Business Venturing Insights 16 (2021) e00275 J. Tang et al. solutions, health and safety products) (Scheidgen et al., 2021)....
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TL;DR: In this paper , the authors investigated how start-ups have been affected by, and have responded to, the COVID-19 pandemic by analysing interview data from 32 Australian startups during Australia's second wave of COVID19.
Abstract: This article investigates how start-ups have been affected by, and have responded to, the COVID-19 pandemic by analysing interview data from 32 Australian start-ups during Australia’s second wave of COVID-19. A framework and visualisation were developed, capturing unexplored heterogeneity within these start-ups, depending whether the emphasis was upon opportunities or adversity, and the type and extent of business model changes. Six start-up types were identified: stable beneficiaries, business-as-usual continuers, digital adjusters, adversity survivors, opportunity graspers and lemonade makers. The findings suggest that most start-ups responded to the crisis through business model changes because of crisis-induced opportunities and crisis-induced adversity The anaysis found that the interplay between firm size and crisis influences whether start-ups focus on business model adaptation or business model innovation or a combination of both We thus contribute to the literature on business models, crisis management and a newly emerging field focusing on the implications of the COVID-19 pandemic for start-ups.
17 citations
References
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TL;DR: In this article, the authors draw upon previous research conducted in the different social science disciplines and applied fields of business to create a conceptual framework for the field of entrepreneurship, and predict a set of outcomes not explained or predicted by conceptual frameworks already in existence in other fields.
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TL;DR: In this paper, the authors put forward a view of social entrepreneurship as a process that catalyzes social change and/or addresses important social needs in a way that is not dominated by direct financial benefits for the entrepreneurs.
Abstract: Social entrepreneurship, as a practice and a field for scholarly investigation, provides a unique opportunity to challenge, question, and rethink concepts and assumptions from different fields of management and business research. This paper puts forward a view of social entrepreneurship as a process that catalyzes social change and/or addresses important social needs in a way that is not dominated by direct financial benefits for the entrepreneurs. Social entrepreneurship is seen as differing from other forms of entrepreneurship in the relatively higher priority given to promoting social value and development versus capturing economic value. To stimulate future research the authors introduce the concept of embeddedness as a nexus between theoretical perspectives for the study of social entrepreneurship. Different research methodologies and their implications are discussed.
2,804 citations