Crisis Management For Small And Medium Sized Enterprises Smes

This book provides an in-depth introduction to crisis management and leadership in SMEs, as well as methods, approaches and cases against the background of different crises; external ones in particular. Featuring contributions from research and practice, this book covers a plethora of SMEs from different sectors to match the diverse nature of small business practice. The combination of a sound theoretical framework for small firm crisis management along with practical instruments/methods and cases, help to improve the organizational resilience of SMEs. The authors also guide the reader to resources beyond the book, including an online “Crisis Toolkit” comprised of material such as further publications, crisis management blueprints, guidelines, checklists, and company cases on crisis management-related issues.

The international cast of authors in this important book explore how internationalizing small and medium sized enterprises (iSMEs) face major crises, such as COVID-19, and have managed them to reach a stable and desired state post-crisis. Chapter orientations vary from theoretical to empirical. Each focuses on issues related to a major crisis, and present already-deployed success strategies in 14 different country environments. The rich diversity of chapters offers a highly significant and timely contribution to the field.

Tourism destinations are traditionally dominated by small and medium-sized enterprises that provide a wide range of products to tourists such as accommodation, travel services, transportation, recreation and entertainment, and food and beverage services. New knowledge and global risks have emerged, and small and medium-sized tourism enterprises (SMTEs) are now highly vulnerable. Recently, the COVID-19 pandemic has hit the whole world and caused a change in the tourism paradigm. Many SMTEs around the world have been severely affected by the need to completely shut down their activities for months, and expectations for recovery in the medium term are not optimistic. SMTEs do not have the capacity and increased resources—financial, human, operational—of large companies to prepare for crisis contingencies (planning) and respond to the challenges they face. They simply do not have the resources or knowledge for risk analysis and the creation of crisis teams or plans. This is an area of growing importance and concern, both in the public and private sectors, where specific research and more in-depth knowledge are needed. Risk, Crisis, and Disaster Management in Small and Medium-Sized Tourism Enterprises connects research in the field of crisis management with the risks affecting small and medium-sized tourism enterprises. The book presents prevailing research on SME-related planning, response, and recovery during crisis situations, further propelling much-needed literature on these challenges in today’s tourism industry. The chapters cover important topics such as terrorism threats, disaster management, resilient strategies, pandemic management, and risk analysis. The target audience of this book will be composed of professionals working in the tourism and hospitality industries, restaurateurs, travel agencies, hotel executives, directors, managers, crisis and risk planners, policymakers, government officials, researchers, and academicians who are interested in the threats to tourism businesses and how small and medium-sized enterprises can manage and navigate these risks.

Oftentimes, the owners and entrepreneurs whose small businesses are undergoing financial problems suffer high emotional costs. These individuals can experience significant setbacks in their entrepreneurial journeys as well as depression and other negative emotions from the stress of crisis episodes. However, businesses that are in crisis also provide valuable learning opportunities for adapting and changing in order to successfully face future challenging situations. Cases on Small Business Economics and Development During Economic Crises presents a diverse range of perspectives and insights into global developments in entrepreneurship and captures a diverse collection of methodologies and outcomes from various countries in the realm of small business economics and their development. Including case studies that discuss the COVID-19 pandemic, risk management, and entrepreneurial resiliency, this case book serves as an excellent companion for entrepreneurs, small business owners, managers, executives, economists, business professionals, academicians, students, and researchers.

Crisis Management Strategy, first published in 1993, is an excellent introduction to the theory and practice of crisis management in modern enterprises. Simon Booth examines the conventional approaches followed by many firms in the face of change and crisis. He warns of the dangers of theories which oversimplify the causes of crisis and their possible solutions, and which overlook the individual nature of each firm and its environment. Instead, a dynamic new vision of crisis management is offered, which takes into account different kinds of crisis demanding diverse solutions. The key role of leadership is also evaluated in relation to both internally and externally generated crises. Drawing on case studies of leading firms facing crisis solutions in a variety of environments, this truly international volume will provide valuable insight into the experience of crisis, risk and uncertainty. This title will be of interest to students of business.

This book explores the timely issue of how small businesses, micro firms and entrepreneurs respond to crises. A largely overlooked area of research, the author posits that by better understanding crisis management in small and micro firms, we can help to protect these businesses from the potentially devastating effects of a crisis. Offering guidance for scholars and practitioners, including small business owners, to better understand the concept, limitations and considerations of crisis management - specifically in the small business context - the author demonstrates that there is no single solution for a small business to cope with a crisis. Drawing from the thematic findings, the author offers valuable recommendations on how small business owners can strategically plan for the future and better manage their capability when faced with a crisis. Sukanlaya Sawang is a research Professor of Innovation and Entrepreneurship at Coventry University, UK, and has been appointed as the Associate Dean at the Faculty of Business and Law. Prior to joining Coventry University, Professor Sawang was a Reader and the Director of Research Internationalisation at the University of Leicester, and the Director of Research at the International Centre for Transformational Entrepreneurship, Coventry University. She is also an adjunct Professor at the QUT Business School at Queensland University of Technology, Australia and Chulalongkorn University, Thailand. Sukanlaya received a number of research awards and actively engages with the research community for example, she is Editor-in-Chief for Behavioral Sciences, as well as Associate Editor for Frontiers in Psychology and BMC Psychology. In addition, she supervises and serves on PhD panels and examinations and leads Special Interest Groups at international conferences.

Presents the theoretical background to risk and corporate crisis management and offers useful methods and techniques applicable to small and medium sized enterprises in the event of disastrous situations such as fire, flood, storm, etc. This book deals with topics such as globalization, international business negotiations, and others.