Models of Strategic Management in Smes in The Period of The Covid-19 Pandemic in Metropolitan Lima

Abstract

Purpose: The purpose of this research was to understand the adaptation of strategic management models by SMEs in Metropolitan Lima during the period of the COVID-19 pandemic. Theoretical Framework: Organizations must be agile and flexible to survive in a constantly changing business environment. During the pandemic, SMEs were forced to rethink their strategic management models, adopting a more authentic and adaptive approach. The ability to rethink strategies, diversify products and services, and embrace digitalization became crucial. Strategic management, an essential component of management models, encompasses the formulation, implementation, and evaluation of key decisions for organizations to achieve their objectives in a competitive and dynamic environment. This involves looking both internally at the organization's structure and operations and externally, evaluating opportunities and threats. Strategic management is how organizations not only face challenges, but also take advantage of emerging opportunities. Methodology: It was framed in the interpretative paradigm and supported by the hermeneutic methodology. Results and Discussion: The fundamental findings of the study relate to four primary categories and identify emerging facets within the expressions of social actors. This study highlights how, in times of crisis, resilience and creativity emerge as crucial qualities for success. It also highlights that adaptability and re-evaluation of previous approaches become essential for navigating turbulent terrain. Practical and social implication: The importance of understanding how strategies evolved to sustain the operation and generate valuable knowledge is highlighted. Originality and value: Originality and value lie in the depth of contextual analysis and the identification of concrete strategies that could inspire other companies in similar situations.