Business Recovery Research Articles

Tested by the COVID-19 economic shock: peace-positive entrepreneurship and intergroup collaboration in post-conflict business recovery

ABSTRACT Establishing economic collaboration between previously antagonistic groups during post-conflict business recovery advances peacebuilding by nurturing intergroup ties. However, we have a limited understanding of how post-conflict intergroup economic collaboration develops and how it is sustained. We address these gaps from the perspective of peace-positive entrepreneurship. Specifically, an ecosystem approach that we apply directs analysis to dynamic entrepreneurial action in the local context. To examine the role of intergroup interactions in decision-making of entrepreneurs in post-conflict business recovery and in response to the economic disruption caused by the COVID-19 pandemic, we conducted fieldwork on two micro-economies in Bosnia and Herzegovina. Our findings demonstrate that entrepreneurs’ engagement across ethnic lines was a main facet of resource mobilisation strategies that enabled them to (re)establish and develop market presence post-conflict. Likewise, intergroup economic collaboration was a lynchpin of entrepreneurs’ effective response to the COVID-19 economic shock. This path-dependent analysis of entrepreneurial action shows that intergroup economic collaboration is not simply a side-effect of post-conflict business recovery and development. Rather, intergroup economic collaboration also needs to be actively pursued by entrepreneurs attuned to the local context. Intergroup economic collaboration can be instrumental in business (re)engagement in the post-conflict economy, generating wider benefits to peacebuilding.

Translation of signs and a renewed understanding of the post-pandemic cosmopolis: a diachronic study of street signs in the hybridised area of Guangzhou

ABSTRACT From a translational perspective, the researcher conducts a diachronic study of the changing street signs in one of the hybridised areas in Guangzhou. The street signs in the present study were investigated through an ethnographic process and were compared and discussed in relation to their changing contexts before and after the COVID-19 pandemic. The findings show a decrease in multilingual signs in the area post-pandemic time, which may indicate the influence of the pandemic on international visitors. In contrast, increasing monolingual Chinese signs exhibit the authorities’ reassertion of the dominant ideology and restoration of social order. On the other hand, however, a large number of bilingual and monolingual English signs in multifarious modes, among which many are from the business sectors in the 2023 corpus, may signal the open nature of an export-oriented economy in the area and recovery of international business after the pandemic. The changing translational landscape of the area constructs a gateway for us to renew our understanding of the influence of the pandemic on the cosmopolitan city and the relationship between language practice and the city.

A Comprehensive Study on Analyzing Business's Immediate Recovery with Public Health

Study investigates the immediate recovery of businesses in the situation of public health crises, focusing on the interplay between health interventions and economic stabilization efforts. Data were collected from 150 business experts and academics through a detailed questionnaire. After that, the data is analyzed using SPSS, Exploratory Factor Analysis (EFA), path analysis, construct reliability analysis, Kaiser-Meyer-Olkin (KMO) and Bartlett's tests which display the connection to the business's immediate recovery. The hypotheses propose that capital issues, economic difficulties, and government support are positively correlated with rapid business recovery. Path analysis reveals significant positive correlations (P<0.001) between capital issues, economic difficulties, and government support with immediate recovery. The results indicate that capital and government support are critical to business recovery plans that are in line with public health priorities, even though capital and economic issues have a large impact on recovery.

Organization and methodology of stress testing of banking risks

The paper identifies stress testing as an important tool that helps the NBU and banking institutions effectively manage risks. The importance of stress testing is determined by the possibilities of: assessing the stability of banks, identifying vulnerable places, increasing transparency and trust, preparing for crisis situations, improving policies and procedures. It has been proven that the effective conduct of stress testing allows: to ensure the stability of the banking institution, to identify vulnerabilities, to increase transparency and trust, to prepare for crisis situations, to improve policies and procedures. It was determined that the NBU plays a key role in conducting stress testing, providing supervision of the banking system and determining general approaches to assessing the stability of banks by establishing regulatory requirements, analyzing the results of stress testing, developing policies and recommendations for banks. It is shown that the main aspects of credit risk stress testing are: assessment of the impact on the credit portfolio, analysis of financial indicators, sensitivity to risks, development of preventive measures, capital planning, systematic approach to credit risk monitoring. The banking institution uses the results of stress testing to develop a strategy and business plan, risk management policies and procedures, and business recovery plans. The methodology of stress testing of credit risk, liquidity risk, interest rate risk of the bank book, market risk, and operational risk has been formalized, which should be carried out at least once a quarter. The purpose of stress testing and assumptions for developing stress scenarios for each type of risk are defined. Recommendations for improving the organization of the stress testing process have been developed. A set of measures to improve the mechanism of stress testing of banking activity risks is substantiated: development of unified methods and algorithms of stress testing, harmonization of national approaches with international standards, integration of stress testing into the risk management system, technological support and automation of processes, improvement of personnel qualifications.

Business continuity management: trends, structures and future issues

PurposeThis study assesses the current landscape of business continuity management (BCM) research while exploring research trends, structures and delineating potential future directions.Design/methodology/approachA comprehensive bibliometric analysis was conducted on 360 articles from the Scopus and Web of Science databases using Biblioshiny software. A meta-synthesis was employed to aggregate and synthesize findings from the bibliometric results.FindingsThe results demonstrate a notable increase in publication numbers since the onset of the pandemic, reaching a peak in 2022 with a total of 342 articles. A collaborative bond among scholars transcends geographical boundaries and national affiliations. The analytical results propose avenues for future research, addressing crucial areas such as the integration of business continuity management systems (BCMS), the development of BCM frameworks and a comparative analysis of business impact analysis (BIA) frameworks through pertinent theories.Research limitations/implicationsThe study contributes theoretical and practical implications, serving as a valuable resource for academics and practitioners seeking to deepen their understanding of BCM’s role in business recovery and preserving organizational continuity in the face of disruptions.Originality/valueThis study pioneers a comprehensive approach by integrating bibliometric analysis and qualitative meta-synthesis, providing a consolidated overview of BCM research. Additionally, it presents future research proposals in this area.

Strategi Pemulihan Usaha Kerajinan Rotan di Era Pasca Pandemi Covid-19 Pada Usaha Adit Furniture

This study examines the business recovery strategies implemented by Adit Furniture, a rattan craft company, in facing the challenges of the post-COVID-19 pandemic era. The pandemic has had a significant impact on the rattan craft industry, including decreased demand, supply chain disruptions, and changes in consumer preferences. This study uses a qualitative analysis method with a case study approach, where data is collected through direct observation at Adit Furniture's production site and in-depth interviews with the owner, employees, and related stakeholders. Observations were conducted to understand the production process, implementation of health protocols, and operational adaptations, while interviews aimed to gain information about the strategies implemented, challenges faced, and future visions. This study also reveals the challenges faced in the recovery process and the factors that contributed to the success of these strategies. These findings are expected to provide valuable insights for other rattan craft business actors in navigating the post-pandemic business landscape and designing effective recovery strategies.

Business Recovery Strategy after Covid-19 for Vietravel: The Role of Corporate Social Responsibility (CSR) Behaviors

Business Recovery Strategy after Covid-19 for Vietravel: The Role of Corporate Social Responsibility (CSR) Behaviors

A Framework of Customer Service Training Competencies for Proactive Business Recovery in a Post-COVID Era: A Case Study

Abstract Customer service is a core competitive edge in any service industry, including the retail banking sector. However, retail bank customers, especially in Angola, often complained of standing in long queues waiting to be served and difficulty handling technology while transitioning to online banking. This qualitative single-case study used competency-based theory to develop a framework for the customer service training competencies of a selected retail bank in Angola. Purposeful sampling was employed to select eight participants, including bank employees and customers who voluntarily participated in this study. Data was collected through semi-structured interviews using WhatsApp calls and audio recordings. It was thematically analyzed using the HyperResearch software. The emerging themes included change, customer service, responsiveness, human resource process improvement, managerial competency, customer relationship management, and online banking. The findings have implications for bank employees’ training and development of the identified competencies needed to redefine the future of customer relationship management and different dimensions of managing customer satisfaction for proactive business recovery.

КОНЦЕПТУАЛЬНІ ЗАСАДИ РОЗВИТКУ ТУРИСТИЧНОЇ ІНДУСТРІЇ В УМОВАХ ТРАНСФОРМАЦІЇ СОЦІАЛЬНО-ЕКОНОМІЧНОЇ СИСТЕМИ УКРАЇНИ

The development of the tourism industry in the context of the transformation of the socio-economic system of Ukraine requires clearly defined conceptual frameworks aimed at adapting to new conditions and ensuring sustainable development of the industry. The purpose of the study is to define these conceptual foundations and to identify the key trends in the development of the tourism industry in the context of war and martial law in Ukraine. It is found that the tourism industry is beginning to revive after a sharp decline due to the war. The evidence reflected the trends in the recovery of the tourism business and its impact on the country's economy in the context of post-warrecovery. It is determined that for the successful development and recovery of the industry in times of crisis, it is necessary to adhere to the principles of sustainability and resilience, adaptability, integration, social responsibility, innovation, environmental balance and international cooperation. The study also identified current development trends, which include the growth of domestic tourism, improved security and adaptation of tourism services, active government support, the introduction of innovations and digital technologies, the development of social responsibility and volunteer programmes, as well as increased regional cooperation and international assistance. The study results showed that Ukraine's tourism industry is adapting to the war and the transformation of the socio-economic system by reorienting itself to the domestic market and ensuring the safety of tourists. The state and private companies are actively implementing innovations, digital technologies, support programmes and socially responsible initiatives to stimulate the development of the industry. Further research could focus on a more detailed study of individual factors influencing the macroeconomic environment of the Ukrainian tourism industry and their interaction

Factors Affecting Employee Performance in the Business Recovery Process at Listed Banks in Vietnam

Purpose: In recent years, many disruptions have occurred in the Vietnamese economy, which has caused listed banks to suffer many consequences, so listed banks must recognize the factors that promote recovery. Although studies on this issue have been conducted, the amount is quite limited and there is little focus on human resource factors. This empirical study was conducted to demonstrate the factors that affect employee performance and its impact on the recovery of business operations of listed banks. Design/methodology/approach: In this study, the author used questionnaires to collect data from 850 listed bank employees between 15th August 2023 and 26th December 2023. This study developed a questionnaire that used measures from many previous empirical studies to build a model to measure the impact of human resources on a company's ability to recover performance, using a five-point Likert-style scale (from 1 level equals to totally disagree; to 5 level equals to totally agree). After collecting data, this study used the SPL Smart application, to find the relationship between the role of human resources and the ability to recover business performance. From that analysis, the author will provide an objective perspective on the role of human resources in promoting the recovery performance of listed banks in Vietnam. Findings: Research results show that performance appraisal variables positively impact employee performance. On the other hand, career development and training and development do not affect employee performance. Finally, the analysis shows that there is a positive relationship between employee performance and business recovery at listed banks. Research limitations/implications: This study shows that human resources play a very important role in the recov-ery process of Vietnamese listed banks. Learning about the factors that influence employee performance will help banks align their HR strategies with organizational goals, ensuring that the workforce has the right skills and com-petencies necessary force. This process will help listed banks in Vietnam increase their ability to recover from disruptions and enhance their competitiveness. However, this study still has limitations including sample size and number of independent variables not large enough to show the importance of human resources in the recovery process of listed banks in Vietnam. Originality/value: This study contributes to emphasizing that human resources play an important key in the recov-ery process for Vietnamese listed banks. From an objective perspective, it provides insights into the role of human resources and factors to improve employee performance in listed banks.

How service quality affects consumer revisit behavior in chain restaurants: Lessons from COVID-19

Comparison studies in the context of Taiwanese and Chinese restaurant chains remain scarce. This research utilized a comparison study to examine the key distinctions between Taiwanese and Chinese restaurant chains in their response to COVID-19 pandemic. Additionally, this paper also focused on the indirect effects of service quality on customer revisit intention during pandemic. The first study involved a renowned Taiwanese restaurant chain and revealed that service quality impacts revisit intention through brand equity and safety management system. The second study involved a popular Chinese hotpot restaurant chain and demonstrated that service quality affects revisit intention through gratification and reputation. Additionally, the moderating effects of safety perceived and perceived value were considered critical on revisit intention. This study highlighted adapting to local market conditions while prioritizing safety and customer satisfaction amid pandemic. It enriches academic discourse and offer practical insights for post-pandemic business recovery strategies.

The impact of social networks of historically underrepresented group operators (HUGOs) business recovery

While Historically Underrepresented Group Operators (HUGOs) businesses typically depend on social networks for disaster recovery, this aspect remains inadequately researched. This research investigates whether leveraging particular social networks (bonding, bridging, and linking) to obtain financial and informational access influences small business perceptions of recovery. Data was collected through a survey of 200 businesses in Salt Lake City, UT affected by the COVID-19 pandemic and analyzed using logistic regression. The findings indicate that: (1) small businesses that utilized bonding, bridging, or linking networking experienced negative recovery; however (2) HUGOs that utilized linking networks were more likely to experience a positive recovery than non-HUGOs. The research underscores the importance of diversifying social networking channels for successful HUGO business recovery and points to the need for economic recovery programs that build this networking capacity.

Economic challenges faced by migrant street vendors during a crisis: implications for social inclusion development

PurposeInformal migrant workers and street vendors have long been recognized as vulnerable groups in urban areas of Global South countries. However, limited studies exist on the economic challenges faced by migrant street vendors during crises. We aim to address this gap by shedding light on their livelihood and welfare losses during a public health crisis.Design/methodology/approachThis research uses descriptive and qualitative analyzes to triangulate the results. Data are derived from surveys and in-depth interviews with migrant street vendors in the two biggest cities in Vietnam during the COVID-19 pandemic.FindingsThe street vendors experienced significant business loss and consumption reduction during social distancing as well as encountered difficulties in recovering their businesses in the “new normal.” These adverse consequences were also found to disproportionately affect women vendors. Additionally, despite adopting various strategies and mitigation mechanisms to sustain their businesses and consumption, these efforts proved insufficient.Social implicationsThis research underscores the importance of short-term and long-term urban policies aimed at supporting and promoting the social inclusion of street vendors, particularly migrant and women vendors.Originality/valueThis research represents one of the early attempts to explore the adverse effects of a public health crisis on migrant street vendors and to examine whether the crisis disproportionately affected vendors from different genders and educational backgrounds. It also examines their business recovery in the “new normal.”

INNOVATIVE ANTI-CRISIS MANAGEMENT AT TRADE ENTERPRISES IN THE CONTEXT OF EUROPEAN INTEGRATION AND RISKS IN UKRAINE

The article examines the activities of commercial enterprises during the crisis caused by the war, the coronavirus, and the European integration aspirations of Ukraine as a candidate for membership in the European Union. Despite the significant number of publications on anti-crisis policy, there are still unresolved problems related to risk management in the process of ensuring the anti-crisis policy of trade enterprises in the global economic uncertainty. Most of the companies in this sector suffered collapse and bankruptcy due to the complexity of operating conditions during this difficult period: power cuts, labour migration, changes in international and domestic supply conditions, selection of new suppliers, destruction of road and warehouse infrastructure, and the search for new logistics routes. The aim of this article is to offer practical recommendations that will help retailers strengthen their resilience, adapt to the changing environment through innovative crisis management measures, and quickly recover from the crisis to reach or exceed the previous level of financial and operational stability. The research methodology involves a two-pronged approach: a qualitative study through a literature review and interviews, which gives an idea of crisis management, and quantitative methods, including surveys and analysis of financial indicators. The article examines the activities of trade enterprises in the crisis period of the pre-war years, i.e., the time of the pandemic's impact on the dynamics of trade. It analyses the losses of retailers during the war. The objectives of crisis financial management are defined. The relationship between crisis management and the solvency and financial stability of trade enterprises is determined. The impact of insolvency of trade enterprises on the payment of wages to employees is identified. The authors propose a number of anti-crisis measures for trade enterprises in the context of wartime and a global pandemic, such as transition to online trading using marketing strategies and plans, cost reduction, effective inventory management, modelling the sensitivity of financial indicators to changes in the external environment, and search for innovative opportunities. Attention is focused on the growing role of human capital in business recovery, including the importance of staff training and professional development, improvement of motivation systems and human resource management. The paper suggests ways to increase labour productivity, such as process automation and the effective use of data analytics. Results. Thus, the objective need for innovative tools for crisis management of trade enterprises becomes a key element of research in the context of European integration and wartime.

Impact of Stimulus Packages on Business Recovery During the COVID-19 Pandemic in Bangladesh

The COVID-19 pandemic significantly impacted Bangladesh’s economy, leading to disruptions in supply chains and a decline in business activities. To counter these effects, the government introduced stimulus packages aiming to aid business recovery. This article evaluates the impact of these measures using a unique dataset from the Business Confidence Index survey conducted by the South Asian Network on Economic Modeling in April 2021. This survey covered 503 firms across eight divisions in Bangladesh. Using the Propensity Score Matching technique for causal estimation, findings suggest that firms that availed the stimulus packages demonstrated around 9 percentage points higher recovery than those that did not. Such insights are instrumental for future policy design and strengthening evidence-based policymaking.

Proposed Initiatives to Protect Small Businesses in Wales; the United Kingdom Due to Covid-19

In the wake of the COVID-19 pandemic, small businesses worldwide have faced unprecedented challenges. This study presents a detailed analysis of these challenges and explores the effectiveness of government interventions in supporting small business recovery. Utilizing a mix of quantitative research methods, including statistical analysis and a comprehensive literature review, the research focuses on the specific impacts of the pandemic on small business operations and finances. Key findings indicate that small businesses have suffered significant disruptions, primarily in supply chain management and customer engagement. The study evaluates various government initiatives, such as financial aid packages and regulatory relaxations, highlighting their role in mitigating the pandemic's adverse effects. Furthermore, it proposes a set of recommendations for both government and small businesses, emphasizing the need for tailored financial support, enhanced digital transformation strategies, and flexible operational adjustments. The research concludes that a collaborative approach between government and small businesses is essential for ensuring sustainable growth and recovery in the post-pandemic era. This study contributes to the existing body of knowledge by providing actionable insights and practical strategies for policymakers and business owners, aiming to bolster the resilience and long-term prosperity of small businesses, which are integral to the global economy.

From shutdown to reopening: unpacking the determinants of tourism business reopening in the face of adversity

ABSTRACT The coronavirus (COVID-19) pandemic and its associated lockdowns put many tourism businesses on hold. Although these lockdowns have been lifted, not all tourism entrepreneurs reopened their businesses. While prior research has extensively explored the post-pandemic recovery of tourism businesses, there has been relatively limited attention given to the determinants of tourism entrepreneurs to reopen their businesses post-crisis. Drawing on upper echelons theory, this paper explores the role of tourism entrepreneurs’ age in driving the decision to reopen their businesses in the face of adversity. Empirical evidence from a two-wave multi-informant survey involving 134 entrepreneurs in small and medium-sized tourism enterprises in China reveals that older entrepreneurs were more likely to reopen their businesses after the lockdowns were lifted. This relationship is even more pronounced for entrepreneurs who perceive less uncertainty or exhibit higher optimism. This paper represents one of the pioneering attempts to uncover the individual-level heterogeneity in determinants of tourism business reopening against the backdrop of adversity – a crucial foundation for understanding business recovery processes. It offers valuable insights that can assist small and medium-sized tourism enterprises to enhance their preparedness and responsiveness to probable future crises.

Confirmatory Factor Analysis for the Strategic Management Model of the Recovery of Smes Hotel Businesses During the COVID-19 Situation

Objective: To examine the determinants of confirmatory factor analysis of business recovery strategy factors that affect expected business outcome after being affected by the COVID-19 situation of medium and small hotels. Theoretical Framework: This study uses a Turnaround Theory, especially the theory of Crisis Management. Method: This research uses a quantitative approach with a questionnaire as the tool to collect the data design using a sample of 298 with the Purposive Sampling technique. The data analysis technique used is Structural equation modeling (SEM); with the AMOS device to test the statistics of the goodness of fit of the measurement model with the empirical data. Result: From examining the statistics of the goodness of fit of the measurement model with the empirical data, it was found that the business recovery strategy model that affects expected business outcomes had been consistent with the empirical data. This met the criteria for considering the harmony between the measurement model and the empirical data. Moreover, each question had demonstrated a statistical significance level of 0.01. The results of testing the influence of all 6 paths found that all the paths had had a positive influence, and the predictive power of the expected business outcome had been 67.1 percent. Implications: The COVID-19 outbreak has had an impact on hotel operations and revenue. As a result, demand and service activities contracted significantly. Therefore, to alleviate this negative impact and business recovery. Originality/Value: After reviewing the literature, it was found that. It was found that various strategies were used in response to this crisis. The researcher therefore analysis on strategies for business recovery So that it can be used as a model for restoring businesses after being affected by crisis situations.

Tourism resilience and challenges in Limpopo, South Africa: A post-COVID-19 analysis

ABSTRACT This study investigates the impact, recovery and resilience of COVID-19 on South Africa's Limpopo Province's tourism industry. The study utilises surveys (n = 115) and interviews (n = 50) to examine the impact, recovery, resilience, success and challenges of various tourism-related businesses, including national parks, restaurants, and hotels. Despite minimal government support and significant challenges like erratic utilities, high inflation, and a global economic downturn, the sector showed resilience, with few business failures. While some businesses in the accommodation sector diversified into areas like student accommodation, some survived by cutting the number of staff, tapping into savings, borrowing and adopting various cost containment measures to survive the pandemic. Post the pandemic, the sector faces issues like decreased demand due to technological changes in meetings and conferences and employee mental health concerns. The study underscores the need for strategic management and specific policy interventions to ensure the sector's resilience and survival post-pandemic.

Socio-Economic and Demographic Aspects of Russian Tourism in Thailand in 2023

The article reviews the evolution of the growth of Russian tourist flow to the Kingdom of Thailand in 2023, a significant growth of which mainly began to occur after the cancelation of the pandemic status of a new coronavirus infection. The study covers the contemporary strategy for the recovery of the internal tourism business aimed at popularizing travel, including such concepts as safety, hygiene, environmental friendliness, getting new impressions, profitability, etc. The analysis of the updated data for the past year represents the scientific novelty of this study, aimed to assess the rate of recovery of the tourist flow of our compatriots, who have always made a significant share in the flow of foreign tourists to this hospitable Southeastern Kingdom. The relevance of the study can be explained within the study of Thai experience of increasing the volume of the tourism industry, which was most affected by COVID-19 and related anti-epidemiological restrictions. The results of the scientific work conducted by the authors, first of all, the identification of the main trends that require systemic changes necessary for the “recovery therapy” of the modern tourist industry in the post-COVID period, can be applied by scientists in studies of migration for recreational purposes, as well as in the format of using foreign experience in the development of strategies to increase tourist flows to Russian resorts. In the future, this research program will most likely be continued.