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COVID-19 crisis challenges and responses: evidence from selected Greek SMEs

In: Small and Medium Sized Enterprises and the COVID-19 Response

Author

Listed:
  • Pavlos Dimitratos
  • Panagiotis Kyriakopoulos

Abstract

The COVID-19 crisis is a now a global crisis and a 'grand' strategy is essential for firms to respond to this pandemic crisis. In this study, we investigate how Greek SMEs from different industries responded to the COVID-19 crisis. We found that a retrenchment strategy of inventory and employees associated with liquidation was the most widely strategy used by SMEs during the COVID-19 crisis in Greece arising from either supply chain problems or from management decision to reduce cuts and size as a defensive strategy to survive. However, we identified that COVID-19 influenced several advanced- modes beyond exporting or micro- multinational. Greek SMEs digitally transformed their firms due to their strong networking, learning, and knowledge capabilities. The key challenges addressed by managers and practitioners were related to digital infrastructure scale-up, employment conditions and remote working (from home), cyber security and privacy, IT support, and supply chain management.

Suggested Citation

  • Pavlos Dimitratos & Panagiotis Kyriakopoulos, 2022. "COVID-19 crisis challenges and responses: evidence from selected Greek SMEs," Chapters, in: Small and Medium Sized Enterprises and the COVID-19 Response, chapter 14, pages 323-345, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21201_14
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