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From Challenges to Creativity: Enhancing SMEs’ Resilience in the Context of COVID-19

Author

Listed:
  • Ambika Zutshi

    (Department of Management, Melbourne Burwood Campus, Deakin University, 221 Burwood Highway, Burwood, VIC 3125, Australia)

  • John Mendy

    (Department of Management, Lincoln International Business School, University of Lincoln, Brayford Pool, Lincoln, Lincolnshire LN6 7TS, UK)

  • Gagan Deep Sharma

    (University School of Management Studies, Guru Gobind Singh Indraprastha University, Sector 16 C, Dwarka, New Delhi 110078, India)

  • Asha Thomas

    (Jagan Institute of Management Studies, Rohini, New Delhi 110085, India)

  • Tapan Sarker

    (Department of Business Strategy and Innovation, Griffith Business School, Griffith University, Nathan, QLD 4111, Australia)

Abstract

COVID-19 pandemic has brought significant and multiple challenges for SMEs. While SMEs have traditionally faced financial and non-financial crises, the pandemic has brought about additional uncertainties on how to maintain business continuity. The purpose of this paper is to examine how SMEs can mitigate against COVID-19-related crisis by examining the impacts that the pandemic has had on them through a review of 34 articles. The thematic analysis from the literature covered three overarching and inter-related challenges including (i) cost and finance-related challenges, (ii) disruption of activities, and (iii) existential difficulties. The paper’s value lies in addressing the gap between the espoused literature’s claim of the beneficial impact of new technological advancements and SMEs’ ability to survive in the context of the COVID-19 pandemic. The additional value of this paper is a framework of recommendations to help enhance SMEs’ resilience and responsiveness in the context of COVID-19. These recommendations include collaboration, openness, taking advantage of opportunities/victory, and durability.

Suggested Citation

  • Ambika Zutshi & John Mendy & Gagan Deep Sharma & Asha Thomas & Tapan Sarker, 2021. "From Challenges to Creativity: Enhancing SMEs’ Resilience in the Context of COVID-19," Sustainability, MDPI, vol. 13(12), pages 1-16, June.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:12:p:6542-:d:571294
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    References listed on IDEAS

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    3. Ragmoun Wided, 2023. "IT Capabilities, Strategic Flexibility and Organizational Resilience in SMEs Post-COVID-19: A Mediating and Moderating Role of Big Data Analytics Capabilities," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(1), pages 123-142, March.
    4. Paola Paoloni & Martina Manzo & Veronica Procacci, 2023. "The impact of the pandemic crisis on the digital transition process of Italian SMEs," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2023(2 Suppl.), pages 83-107.
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    7. John Kiplangat Cheruiyot BA DipEd MSc MBA, 2024. "The Resilience of Micro and Small Enterprises in Kenya from a Strategic Perspective: A Systematic Literature Review," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(3s), pages 3197-3218, August.
    8. Khorshed Alam & Mohammad Afshar Ali & Michael O. Erdiaw-Kwasie & Peter A. Murray & Retha Wiesner, 2022. "Digital Transformation among SMEs: Does Gender Matter?," Sustainability, MDPI, vol. 14(1), pages 1-20, January.
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