Plan or die: Entrepreneurs’ response to crisis situation

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F23%3AA0000377" target="_blank" >RIV/47813059:19520/23:A0000377 - isvavai.cz</a>
Result on the web
<a href="https://konferencja.jemi.edu.pl/files/MONOGRAFIA_2023.pdf" target="_blank" >https://konferencja.jemi.edu.pl/files/MONOGRAFIA_2023.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Plan or die: Entrepreneurs’ response to crisis situation
Original language description
Thanks to the COVID-19 epidemic, the last two years have been filled with changes for entrepreneurs. As a result, the change leads to a new level, much higher than the previous one. It is a long-term strategy focused on debt levels, risk- advantage approaches, reinvestment in profits, and organizational changes. The purpose of this chapter is to present the results of the entrepreneurs’ response to the situation within and nearly after COVID-19 restrictions. Research findings are based on primary research in more than 300 companies in the Czech Republic (2 rounds of survey – 2020 and 2021). The comparison contrasts the change in strategic thinking due to long-term crisis. The results showed that measurable goals are extremely important during the crisis to maintain discipline in business (an increase of 91%). On the other hand, the exit strategy as a response to crisis is not the preferred solution (the lowest preference). Findings could be applied in managerial practice as a recommendation when research findings illustrate a possible combination of optimal business behavior within a crisis environment. Originality could be seen in the importance of ongoing profit investments and planning of individual activities in the company and the need for an active approach of the entrepreneur.
Czech name
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Czech description
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Book/collection name
Economic Policy, Business,and Management in the Post-Pandemic Perspective
ISBN
9788361597940
Number of pages of the result
20
Pages from-to
77-96
Number of pages of the book
178
Publisher name
Institute of Economics, Polish Academy of Science
Place of publication
Warsaw
UT code for WoS chapter
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