Plan or die: Entrepreneurs’ response to crisis situation

Kód výsledku v 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>

Výsledek na webu

<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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Jazyk výsledku

angličtina

Název v původním jazyce

Plan or die: Entrepreneurs’ response to crisis situation

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Plan or die: Entrepreneurs’ response to crisis situation

Popis výsledku anglicky

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.

Druh

C - Kapitola v odborné knize

CEP obor

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OECD FORD obor

50204 - Business and management

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2023

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název knihy nebo sborníku

Economic Policy, Business,and Management in the Post-Pandemic Perspective

ISBN

9788361597940

Počet stran výsledku

20

Strana od-do

77-96

Počet stran knihy

178

Název nakladatele

Institute of Economics, Polish Academy of Science

Místo vydání

Warsaw

Kód UT WoS kapitoly

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