Abstract
Covid-19 has had a significant impact on the disruption of the global economic sector, including for startup businesses. This encourages entrepreneurs to carry out a continuous innovation process to become more ambidextrous and continue to innovate in an effort to futureproof their business. The paper aims to provide a business resilience framework by exploring capability (innovation ambidexterity, dynamic capability, and technology capability), behavior (agile leadership), and knowledge (knowledge stock) in startup businesses. This study uses a literature review synthesis to gain a greater understanding of startup resilience and its implementation. This study also uses a case study approach in building a framework by obtaining data from semi-structured interviews with three startups owners in Indonesia. This preliminary research has identified four propositions that will be used to develop questionnaires and data collection instruments. Thus, this study provides new insights on how startups can overcome contradictory pressures for business resilience in anticipating, dealing with, and emerging from business turbulence due to the Covid-19 pandemic by considering the factors proposed in this study. The implications and recommendations of this study are also discussed in detail.
Highlights
The Covid-19 outbreak has spread throughout the world
The cases studied are very relevant to world conditions during 2020, where all countries are affected by the Covid-19 outbreak, especially startups who must struggle to maintain their business continuity
This study identifies that the impact of Covid-19 affects the innovation ambidexterity and knowledge stock owned by startups in increasing business resilience
Summary
The World Health Organization (WHO) announced that Covid-19 is a global pandemic, causing significant economic shocks worldwide in efforts to control the virus [1]. Pandemic diseases are one of the potentially unpredictable and severe threats to the continuity of an organization’s operations and infrastructure [2]. The Covid-19 pandemic has had a negative impact on all economic sectors, including SMEs, in both developed and developing countries, and startup businesses are the most vulnerable to these conditions. Startups differ from large companies in terms of their organizational structure, leadership style, reactions to the environment, available resources, and the internal context in which they operate [4,5]. The global business environment has become increasingly complex due to this pandemic, so that business resilience in the SME sector becomes a determinant in business continuity
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