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Survival during Times of Disruptions: Rethinking Strategies for Enabling Business Viability in the Developing Economy

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  • Ayodotun Stephen Ibidunni

    (Department of Business Administration, Chrisland University, Abeokuta 110118, Nigeria
    International Centre for Policy Research and Industry Linkages (ICePRIL), Shaveh Consulting, Lagos 106104, Nigeria
    Centre for Economic policy and Development Research (CEPDeR), Covenant University, Ota 112104, Nigeria)

  • Adebanji William Adejuwon Ayeni

    (Department of Business Administration, Landmark University, Omu-Aran 251103, Nigeria)

  • Oyedele Martins Ogundana

    (Accounting and Finance Department, Nottingham Trent University, Nottingham NG1 4FQ, UK)

  • Bisayo Otokiti

    (Department of Business and Entrepreneurship, Kwara State University, Malete 241103, Nigeria)

  • Lerato Mohalajeng

    (Department of Business Management, North-West University, Potchefstroom 2531, South Africa)

Abstract

There exists a noticeable void in the literature about strategies that business operators, especially those in highly vulnerable economies, can adapt to sustain their survival and to achieve growth in economically turbulent times. This study investigated strategies that can support the viability and survival of businesses in times of environmental disruptions. The study adopted a qualitative research design that involved the interview of 31 business owners across different sectoral groups including fashion and telecommunication that are operating in Nigeria’s Small and Medium Enterprises (SMEs) sector. The interview sessions were audio recorded, transcribed verbatim and thematically analysed. The findings reveal that amid disruptions, the business owners were resilient and established diverse digital strategies that helped them to keep their businesses afloat throughout the time of disruption. This finding contributes to the field of entrepreneurship as it offers practical strategies for supporting business owners during times of disruptions, especially in a developing country context.

Suggested Citation

  • Ayodotun Stephen Ibidunni & Adebanji William Adejuwon Ayeni & Oyedele Martins Ogundana & Bisayo Otokiti & Lerato Mohalajeng, 2022. "Survival during Times of Disruptions: Rethinking Strategies for Enabling Business Viability in the Developing Economy," Sustainability, MDPI, vol. 14(20), pages 1-14, October.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:20:p:13549-:d:947805
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    References listed on IDEAS

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    Cited by:

    1. Ganotakis, Panagiotis & Angelidou, Sofia & Saridakis, Charalampos & Piperopoulos, Panagiotis & Dindial, Miguel, 2023. "Innovation, digital technologies, and sales growth during exogenous shocks," Technological Forecasting and Social Change, Elsevier, vol. 193(C).

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