Strategies in times of pandemic crisis: evidence from retail textile firms
DOI:
https://doi.org/10.5585/2024.25947Keywords:
dynamic capabilities, reactive strategies, emergent strategies, entrepreneurship, organizational adaptabilityAbstract
Objective: This study is a pioneering exploration that uniquely focuses on how micro and small enterprises (MSEs) in the textile retail sector in Manaus transformed reactive strategies into actions that promote organizational resilience by developing dynamic capabilities during the COVID-19 pandemic. This unique focus will provide a fresh perspective and engage the reader in a new understanding of crisis management in the textile retail sector, sparking their interest in the novel insights presented.
Approach: Phenomenological analysis was used, with semi-structured interviews conducted with seven owners of MSEs in the textile retail sector in Manaus. The data were analyzed to identify emerging company adaptation strategy trends, such as shifts in supply chain management, changes in marketing strategies (e.g., digital marketing, customer engagement), and adoption of digital technologies (e.g., e-commerce platforms, digital payment systems).
Relevance: This study is a pioneering exploration of the impact of the COVID-19 pandemic on MSEs in the textile retail sector in Manaus. It acknowledges the entrepreneur's pivotal role as a moderator between strategies and resilience, valuing their contribution. The research underscores the significance of dynamic capabilities and, notably, the owners' characteristics in adaptation and survival in times of crisis, highlighting the importance of your work in the field.
Main results: This study highlights the pivotal role of the entrepreneur as a moderator in MSEs' organizational resilience. The owners' skills and decisions strongly influence this resilience. They evolve reactive strategies into emergent ones and systematize them into dynamic capabilities, thus contributing to organizational resilience. The entrepreneur's role emerges as an essential moderator, either amplifying or diminishing the effectiveness of these strategies. These insights are significant and will enhance understanding organizational resilience in crisis management.
Theoretical/Methodological Contributions: The research provides practical insights into how MSEs in the textile retail sector in Manaus adapted their strategies during the COVID-19 pandemic, underlining the critical role of dynamic capabilities and organizational resilience. The study also contributes to the theory by redefining organizational resilience as a psychological resource dependent on the owner's characteristics. Methodologically, the phenomenological research allowed for a deep understanding of the entrepreneurs' experiences and strategies in response to the crisis, providing a wealth of practical knowledge for the field. These insights can be directly applied to crisis management strategies in the textile retail sector, equipping the audience with a wealth of practical knowledge.
Managerial Contributions: The research suggests that support programs and public policies should focus on developing entrepreneurs' skills, including training and support networks, to strengthen MSEs' resilience. Additionally, it highlights the importance of considering the owners' demographic characteristics, such as age, gender, and educational background, when planning interventions during crises. This targeted approach can significantly enhance the effectiveness of crisis interventions.
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