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Expanding entrepreneurial solution spaces in times of crisis: Business model experimentation amongst packaged food and beverage ventures

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  • Björklund, Tua A.
  • Mikkonen, Maria
  • Mattila, Pauliina
  • van der Marel, Floris

Abstract

Times of crisis require entrepreneurial responses to mitigate adverse effects and address new opportunities. This study focuses on how packaged food and drink entrepreneurs in Finland took action to create and capture new value during the Covid-19 crisis. Examining 844 social media posts of 66 ventures between March and May 2020 and interviewing 17 of these ventures, we found ventures to experiment with new business model variations, which not only expanded their set of solutions directly, but resulted in action-based learning leading to longer-term changes and increased capabilities for subsequent value creation. Furthermore, collaborative experiments and prosocial support increased the solution space through developing the capabilities of the ecosystem.

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  • Björklund, Tua A. & Mikkonen, Maria & Mattila, Pauliina & van der Marel, Floris, 2020. "Expanding entrepreneurial solution spaces in times of crisis: Business model experimentation amongst packaged food and beverage ventures," Journal of Business Venturing Insights, Elsevier, vol. 14(C).
    • Handle: RePEc:eee:jobuve:v:14:y:2020:i:c:s2352673420300536
    DOI: 10.1016/j.jbvi.2020.e00197
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    2. Muh. Ruslan Abdullah & Fasiha Fasiha & Abd. Kadir Arno, 2022. "Reincarnation of MSMEs after the Government's Policy on Economic Recovery Due to the Covid-19 Pandemic in Indonesia," Technium Social Sciences Journal, Technium Science, vol. 27(1), pages 452-462, January.
    3. Klyver, Kim & Nielsen, Suna Løwe, 2021. "Which crisis strategies are (expectedly) effective among SMEs during COVID-19?," Journal of Business Venturing Insights, Elsevier, vol. 16(C).
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    5. Scheidgen, Katharina & Gümüsay, Ali Aslan & Günzel-Jensen, Franziska & Krlev, Gorgi & Wolf, Miriam, 2021. "Crises and entrepreneurial opportunities: Digital social innovation in response to physical distancing," Journal of Business Venturing Insights, Elsevier, vol. 15(C).
    6. Silvia Sanasi, 2023. "Entrepreneurial experimentation in business model dynamics: Current understanding and future opportunities," International Entrepreneurship and Management Journal, Springer, vol. 19(2), pages 805-836, June.
    7. Sakellariou, Evy & Karantinou, Kalipso & Goffin, Keith, 2021. "Video-ethnography during Covid-19 and beyond: Generating user foresights in a virtual world," Technological Forecasting and Social Change, Elsevier, vol. 169(C).
    8. Andreas Kuckertz & Leif Brändle, 2022. "Creative reconstruction: a structured literature review of the early empirical research on the COVID-19 crisis and entrepreneurship," Management Review Quarterly, Springer, vol. 72(2), pages 281-307, June.
    9. Carsten Bergenholtz & Kim Klyver & Oana Vuculescu, 2023. "Self-Efficacy in Disrupted Environments: COVID-19 as a Natural Experiment," Entrepreneurship Theory and Practice, , vol. 47(3), pages 724-750, May.

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