Crisis and crisis management in the Upper Franconian textile industry

Crises are becoming the new normal in the twenty-first century. This impression arises when one looks at the last decades’ political, economic, social, or ecological developments. Companies operating in this heterodox and dynamic environment are required to act quickly and in an adapted manner. The more closely companies are integrated into the macroeconomic context, the more they are affected by changes in the environment. Especially small and medium-sized enterprises, which are considered more vulnerable to crises (Detarsio et al. 2016), need appropriate strategies to survive them. The study examines which methods small and medium sized enterprises (SMEs) used to survive crises and if there were similar reactions to the same crisis scenarios. The textile industry in Upper Franconia is strongly integrated into the macroeconomic context and consists predominantly of small and medium-sized enterprises. This industry was hit by various crises between 1972 and 2008. The multiple crisis scenarios and the close link between the companies and their environment require a pluralistic perspective. Companies from other sectors that are confronted with similar crisis scenarios can use the study results to better position themselves against crises.