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Crisis challenges of small firms in Macao during the COVID-19 pandemic

Author

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  • Jose C. Alves

    (City University of Macao)

  • Tan Cheng Lok

    (City University of Macao)

  • Yubo Luo

    (City University of Macao)

  • Wei Hao

    (City University of Macao)

Abstract

This research develops a framework that combines crisis stages, stakeholder engagement, and crisis challenges. The framework is applied to small firms in Macao during the 2019 novel coronavirus disease (COVID-19) pandemic crisis. We conduct a qualitative study based on semi-structured interviews with the leaders of six small firms in Macao. The findings suggest that the COVID-19 pandemic has turned into a “normal” context, which blurs the traditional crisis termination stage. We also find that participating firms engage more with internal stakeholders than external ones. The strategies adopted by small firms include flexible human resource (HR) practices, cost reduction, enhancing customer relations, and using government support schemes. These strategies are effective in the short term; firms need to pay attention to diversity and learning for the long term.

Suggested Citation

  • Jose C. Alves & Tan Cheng Lok & Yubo Luo & Wei Hao, 2020. "Crisis challenges of small firms in Macao during the COVID-19 pandemic," Frontiers of Business Research in China, Springer, vol. 14(1), pages 1-23, December.
    • Handle: RePEc:spr:fobric:v:14:y:2020:i:1:d:10.1186_s11782-020-00094-2
    DOI: 10.1186/s11782-020-00094-2
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    Cited by:

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    2. Liridon Kryeziu & Mehmet Bağış & Mehmet Nurullah Kurutkan & Besnik A. Krasniqi & Artan Haziri, 2022. "COVID-19 impact and firm reactions towards crisis: Evidence from a transition economy," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 18(1), pages 169-196.
    3. Tiberiu Foris & Alina Simona Tecău & Camelia-Cristina Dragomir & Diana Foris, 2022. "The Start-Up Manager in Times of Crisis: Challenges and Solutions for Increasing the Resilience of Companies and Sustainable Reconstruction," Sustainability, MDPI, vol. 14(15), pages 1-20, July.
    4. Ainon Ramli & Liafisu Sina Yekini, 2022. "Cash Flow Management among Micro-Traders: Responses to the COVID-19 Pandemic," Sustainability, MDPI, vol. 14(17), pages 1-21, September.
    5. J. Q. Cheong, 2022. "A global review of COVID-19 Assistance Program for Small Business," GATR Journals jber218, Global Academy of Training and Research (GATR) Enterprise.

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