Abstract
The economic specialties caused by the global coronavirus pandemic completely changed everyday life regarding certain sectors. For the small and medium enterprises, processing during the pandemic held several significant challenges, such as: cost-efficient operations, hardship of keeping employees, efficient management of innovation and various corporate activities, keeping the customers, etc. Many enterprises saw severe damages indirectly from the coronavirus pandemic, as society itself had its habits significantly changed, thereby necessitating changes in strategy for small and medium enterprises, most notably for local service providers and producers that have no delivery service. In order to solve the issue at hand, several governments tried applying a variety of solutions—mostly by financing the enterprises in question. The goal of the authors is to understand the current operation of innovation initiatives that small and medium enterprises have post-COVID-19, and to obtain a clear view on changes in marketing habits. Furthermore, the analysis concentrates on the following: the state of family SMEs dealing in foodstuffs, and how to create a future view for such members of the sector by identifying best practices. Using data collected during 2020 and 2021, and employing descriptive statistics and a conjoint analysis, the authors wished to see how the coronavirus pandemic affected SMEs, detect the changes in their marketing and innovation policy due to the pandemic, and help them create core business strategy via consumer feedback. Authors found that SMEs had to innovate by 2021 beyond their 2019 expectations, and that customers had partially validated their endeavors through their answers.
Highlights
The effects of the coronavirus pandemic were unexpected across the globe, and caused both the economy and society to undergo significant changes in response to its pressure on our everyday lives
The first research material’s data were collected during August 2019, where semistructured deep interviews were conducted with four family small and medium enterprises of the foodstuffs industry
Conjoint analysis was the choice of the authors in order to reduce the pressure of the coronavirus pandemic as a topic
Summary
The effects of the coronavirus pandemic were unexpected across the globe, and caused both the economy and society to undergo significant changes in response to its pressure on our everyday lives. The most notable effect of the coronavirus on society and national economies worldwide is uncertainty—the situation was unexpected for the global community, and handling it caused issues for a wide variety of actors across society. Showed that the uncertainty of the coronavirus pandemic caused global shock, it had direct effects on, for example, industrial production, reducing it by 14% worldwide [1]. Further areas that suffered specific impacts from the coronavirus pandemic are almost too many to count; they have faced new challenges due to the unexpected change in situation. Healthcare and related industries had to deal with significant pressure due to the changes in people’s everyday lives [4]. Transport had to sustain the mobility of the population in increasingly high-pressure circumstances [5]
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