This book provides an in-depth introduction to crisis management and leadership in SMEs, as well as methods, approaches and cases against the background of different crises; external ones in particular. Featuring contributions from research and practice, this book covers a plethora of SMEs from different sectors to match the diverse nature of small business practice. The combination of a sound theoretical framework for small firm crisis management along with practical instruments/methods and cases, help to improve the organizational resilience of SMEs. The authors also guide the reader to resources beyond the book, including an online “Crisis Toolkit” comprised of material such as further publications, crisis management blueprints, guidelines, checklists, and company cases on crisis management-related issues.
The international cast of authors in this important book explore how internationalizing small and medium sized enterprises (iSMEs) face major crises, such as COVID-19, and have managed them to reach a stable and desired state post-crisis. Chapter orientations vary from theoretical to empirical. Each focuses on issues related to a major crisis, and present already-deployed success strategies in 14 different country environments. The rich diversity of chapters offers a highly significant and timely contribution to the field.
Tourism destinations are traditionally dominated by small and medium-sized enterprises that provide a wide range of products to tourists such as accommodation, travel services, transportation, recreation and entertainment, and food and beverage services. New knowledge and global risks have emerged, and small and medium-sized tourism enterprises (SMTEs) are now highly vulnerable. Recently, the COVID-19 pandemic has hit the whole world and caused a change in the tourism paradigm. Many SMTEs around the world have been severely affected by the need to completely shut down their activities for months, and expectations for recovery in the medium term are not optimistic. SMTEs do not have the capacity and increased resources—financial, human, operational—of large companies to prepare for crisis contingencies (planning) and respond to the challenges they face. They simply do not have the resources or knowledge for risk analysis and the creation of crisis teams or plans. This is an area of growing importance and concern, both in the public and private sectors, where specific research and more in-depth knowledge are needed. Risk, Crisis, and Disaster Management in Small and Medium-Sized Tourism Enterprises connects research in the field of crisis management with the risks affecting small and medium-sized tourism enterprises. The book presents prevailing research on SME-related planning, response, and recovery during crisis situations, further propelling much-needed literature on these challenges in today’s tourism industry. The chapters cover important topics such as terrorism threats, disaster management, resilient strategies, pandemic management, and risk analysis. The target audience of this book will be composed of professionals working in the tourism and hospitality industries, restaurateurs, travel agencies, hotel executives, directors, managers, crisis and risk planners, policymakers, government officials, researchers, and academicians who are interested in the threats to tourism businesses and how small and medium-sized enterprises can manage and navigate these risks.
Despite a long-established crisis management literature that focuses on large enterprises, crisis management planning in the context of small- and medium-sized enterprises (SMEs) is less extensively researched. Using data collected from 215 SMEs in the United Kingdom, this paper explores the perceptions and experiences of SMEs' managing directors in relation to crisis management planning. Furthermore, the paper examines differences in perceptions between planning and non-planning SMEs. Analysis reveals six factors that correspond to resilience through planning, financial impact, operational crisis management, the perfect storm, the aftermath of survival and atrophy. Results indicate how the experience of crisis and the type of crisis of type encountered affect managers' assessment of whether planning can be used to address crisis prevention and lower impact.
This book deals with the intellectual foundation of the sociopolitical, economic and legal systems of developing countries, using a methodological approach. It calls for not only the need to search for a country's cultural identity, but also a need to analyze the prevalent concepts important to a contemporary modern society, such as the respect for an individual, human rights, freedom, equality, democracy and the universal respect for law.Based on the author's lifelong reflection on why some of these deeply treasured Western values and institutions have not been useful in developing democracy in Asia, it examines which values are applicable and which are not to Asian emerging societies. China's historical and contemporary attempts in modernization and development are used as examples throughout the book. As a valuable resource for decision-makers of developing countries, this book will help to shed some light on what to look for in a cultural identity and what to subscribe to among the values circulating in our globalized world.
Tourism destinations are traditionally dominated by small and medium-sized enterprises that provide a wide range of products to tourists such as accommodation, travel services, transportation, recreation and entertainment, and food and beverage services. New knowledge and global risks have emerged, and small and medium-sized tourism enterprises (SMTEs) are now highly vulnerable. Recently, the COVID-19 pandemic has hit the whole world and caused a change in the tourism paradigm. Many SMTEs around the world have been severely affected by the need to completely shut down their activities for months, and expectations for recovery in the medium term are not optimistic. SMTEs do not have the capacity and increased resources—financial, human, operational—of large companies to prepare for crisis contingencies (planning) and respond to the challenges they face. They simply do not have the resources or knowledge for risk analysis and the creation of crisis teams or plans. This is an area of growing importance and concern, both in the public and private sectors, where specific research and more in-depth knowledge are needed. Risk, Crisis, and Disaster Management in Small and Medium-Sized Tourism Enterprises connects research in the field of crisis management with the risks affecting small and medium-sized tourism enterprises. The book presents prevailing research on SME-related planning, response, and recovery during crisis situations, further propelling much-needed literature on these challenges in today’s tourism industry. The chapters cover important topics such as terrorism threats, disaster management, resilient strategies, pandemic management, and risk analysis. The target audience of this book will be composed of professionals working in the tourism and hospitality industries, restaurateurs, travel agencies, hotel executives, directors, managers, crisis and risk planners, policymakers, government officials, researchers, and academicians who are interested in the threats to tourism businesses and how small and medium-sized enterprises can manage and navigate these risks.
Oftentimes, the owners and entrepreneurs whose small businesses are undergoing financial problems suffer high emotional costs. These individuals can experience significant setbacks in their entrepreneurial journeys as well as depression and other negative emotions from the stress of crisis episodes. However, businesses that are in crisis also provide valuable learning opportunities for adapting and changing in order to successfully face future challenging situations. Cases on Small Business Economics and Development During Economic Crises presents a diverse range of perspectives and insights into global developments in entrepreneurship and captures a diverse collection of methodologies and outcomes from various countries in the realm of small business economics and their development. Including case studies that discuss the COVID-19 pandemic, risk management, and entrepreneurial resiliency, this case book serves as an excellent companion for entrepreneurs, small business owners, managers, executives, economists, business professionals, academicians, students, and researchers.
The international cast of authors in this important book explore how internationalizing small and medium sized enterprises (iSMEs) face major crises, such as COVID-19, and have managed them to reach a stable and desired state post-crisis. Chapter orientations vary from theoretical to empirical. Each focuses on issues related to a major crisis, and present already-deployed success strategies in 14 different country environments. The rich diversity of chapters offers a highly significant and timely contribution to the field. This book consists of five parts. An introduction to the volume and an extensive literature review open the book and are followed in Part II by general, yet critical, topics such as firm capabilities, resources and orientations, which collectively influence how smaller firms perceive emerging, approaching or unfolding crises in their environments and how the national public policy as well as the evolution of the crisis affects them. Part III extends this discussion to look at digitization and 'servitization' for higher customer and market-orientation, supply chains and overall governance. Specific research-based examples of strategies fill out Part IV and the final part offers a view beyond the current crisis. Scholars and students in entrepreneurship, international business and other related areas will find this very timely volume illuminating.
This book explores the timely issue of how small businesses, micro firms and entrepreneurs respond to crises. A largely overlooked area of research, the author posits that by better understanding crisis management in small and micro firms, we can help to protect these businesses from the potentially devastating effects of a crisis. Offering guidance for scholars and practitioners, including small business owners, to better understand the concept, limitations and considerations of crisis management - specifically in the small business context - the author demonstrates that there is no single solution for a small business to cope with a crisis. Drawing from the thematic findings, the author offers valuable recommendations on how small business owners can strategically plan for the future and better manage their capability when faced with a crisis.
