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Strategic Adaptation and Business Development: A Case Study of a Born-Global Medical Tourism Facilitator Responding to a Crisis

Author

Listed:
  • Sirisuhk Rakthin

    (College of Management, Mahidol University)

  • Trin Thananusak

    (College of Management, Mahidol University)

  • Ruilin Zhu

    (Lancaster University Management School, Lancaster University)

  • Nay Chi Khin Khin Oo

    (Martin de Tours School of Management and Economics, Assumption University)

  • Prattana Punnakitikashem

    (College of Management, Mahidol University)

Abstract

This research delves into the remarkable resilience and adaptability of born-global firms in the face of a crisis of unprecedented magnitude, namely the COVID-19 pandemic. Born-global firms, distinguished by their global orientation from inception, have gained prominence in today's interconnected world. Despite extensive previous research on born-global firms, current literature on the subject lacks substantial insights into how these entities have coped with crisis and disruption, in particular, the COVID-19 pandemic. Drawing on a case study of a born-global medical tourism facilitator, this research unveils three pivotal elements in their survival and adaptation during the pandemic. Firstly, their adaptable work model, featuring a hybrid remote work approach, was instrumental. Secondly, their market-driven strategies enabled them to identify and exploit emerging opportunities. Lastly, the adoption of new digital technologies was pivotal in facilitating efficient communication, infrastructure upgrades, and virtual operations. This study illuminates how a born-global firm navigated the pandemic, and thus offers insights for other businesses to enhance their adaptability and sustainability in times of crisis.

Suggested Citation

  • Sirisuhk Rakthin & Trin Thananusak & Ruilin Zhu & Nay Chi Khin Khin Oo & Prattana Punnakitikashem, 0000. "Strategic Adaptation and Business Development: A Case Study of a Born-Global Medical Tourism Facilitator Responding to a Crisis," Proceedings of International Academic Conferences 14616383, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iacpro:14616383
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    More about this item

    Keywords

    Born-global; Hybrid remote work model; Market-driven capabilities; Technology adoption; Strategic adaptation; Business development;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General

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