Business Recovery Research Articles

Leadership in a Crisis: A Social Network Perspective on Leader Brokerage Strategy, Intra-Organizational Communication Patterns, and Business Recovery

Catastrophic events can significantly disrupt businesses and, as a result, understanding how organizations adapt to a crisis is critical. Undeniably, leaders often play a crucial role in times of great uncertainty. Yet, it is unclear exactly how leaders can effectively guide organizations through a crisis. Extending theories of network brokerage and organizational adaptation research, we posit that compared to leaders creating structural holes in intra-organizational communication networks, those leaders bridging structural holes can build more effective communication networks with greater cohesion and higher efficiency. In turn, greater cohesion and higher efficiency subsequently drive organizational adaptation and business recovery in a multi-unit enterprise during the early outbreak of COVID-19. Our hypotheses are supported using multi-wave network surveys in 111 chain restaurants with over 3,000 employees. We demonstrate that, during a crisis, leaders can serve as a key architect to shape communication patterns to facilitate organizational adaptation to crises and drive business recovery with faster customer growth and continually decreasing personnel costs.

The dynamic capabilities approach and regional business resilience: an Australian case study

ABSTRACT The frequency and severity of major disruptions (e.g., disasters, epidemics/pandemics) are increasing, significantly impacting business survival in regional areas. Using the dynamic capabilities approach, this paper reports on the recovery pathways and resilience of Australian regional businesses during the recent COVID-19 pandemic. A case study approach is adopted to explore the capabilities through which regional businesses can plan for, recover from, and develop strategies for building resilience. Using the data from 18 semi-structured interviews with business owners operating in different industry sectors and a web-based forum with 10 key stakeholders in regional South Australia, a dynamic capabilities resilience framework is developed. Results suggest that the dynamic capabilities approach during crises can become integral to the long-term business recovery of regional Australian businesses. By revealing both the determinants of business survival and the constraints regional businesses face during major crises, the study contributes information that businesses, government and non-government agencies that support them can use to develop effective recovery pathways, which is central to the future sustainability of regional Australia.

How to ensure the recovery of family businesses in a crisis situation? Case of the Moroccan family business Maghreb Steel

Learning outcomes After completion of the case study, students will be able to examine the financial implications of Maghreb Steel’s substantial investment in the Blad Assolb complex in 2007 within the restructuring plan; explore how this decision influenced the company’s financial health and strategic position in the steel market, within the context of the restructuring plan; assess the impact of the 2008 economic crisis within the restructuring plan; analyze how the crisis affected the company’s pricing strategies, profitability and overall business strategy; investigate the financial and strategic consequences of the hot rolling activity initiated as a result of the Blad Assolb project within the company’s restructuring plan; and critique how this venture impacted the company’s operations, cost structure and competitiveness in the steel industry, aligned with the restructuring plan. Case overview/synopsis This case study deals with the only flat steel producer in Morocco: Maghreb Steel, the Moroccan family-owned company created in 1975 by the Sekkat family. It was a leading steel company. At the beginning, the company was specialized in the field of steel tubes, but thanks to its growth ambitions, the Sekkat family had made Maghreb Steel a major player in the Moroccan steel sector. In the same logic of development, the top management of Maghreb Steel launched in 2007 in the adventure to create the first production complex of cold rolling in Morocco – an investment that pushed Maghreb Steel to resort to a debt of more than 6bn dirhams (DH) with a consortium of six banks and would have allowed the company a huge leap in growth, except that the decision-makers of the group Sekkat could not see coming the economic crisis of 2008 causing the fall of steel prices by 62% compared to 2007. Thus, from its effective launch in 2010, the activity of hot rolling would become, for the company, a regrettable orientation. Moreover, the national market could not absorb all the production of the complex that the company called Blad Assolb. In response to this difficult situation, Maghreb Steel decided to store its goods to avoid selling at a loss. Faced with this situation of sectoral crisis and deterioration of its activity, Maghreb Steel lost its ability to honor its financial commitments with the banking consortium. From then on, the company became a case of failure, and the recovery measures had not ceased to be duplicated by the various stakeholders: State, Sekkat family, creditors and management of the company, having only one objective in mind: Save Maghreb Steel! This said, the present case study is dedicated to the financial and strategic analysis of the current situation and the evolution of the company throughout the crisis period to finally propose a suitable recovery plan to save Maghreb Steel. Complexity academic level The case study can be taught to students of master’s degrees in financial management as a synthesis of finance courses. It can also be used to train executives and managers working in family businesses as part of professional certification training. Supplementary materials Teaching notes are available for educators only. Subject code CSS 1: Accounting and finance.

ЦИФРОВІЗАЦІЯ БУХГАЛТЕРСЬКОГО ОБЛІКУ В КОНТЕКСТІ ВІДБУДОВИ ЕКОНОМІКИ УКРАЇНИ

In the context of the post-war reconstruction of Ukraine's economy and with the development of the electronic information environment and new technologies, the importance of digitization of accounting is growing. Because the digital economy is less dependent on physical assets than industry or agriculture, it can be an element of economic sustainability and a reliable source of tax revenue. To support the development of the digital economy, the main factors are: the developed field of information and communication technologies (ICT), institutions of higher education (HEIs), and competitive innovations. This, in turn, determines the relevance of the research. The purpose of the article is to research and justify the need to actively implement Ukrainian software products into practice by domestic business entities for the sake of safe digitalization of accounting in the conditions of business recovery and post-war reconstruction of the Ukrainian economy. In the process of carrying out the research, general scientific theoretical cognition methods were used: tabular - for analytical evaluation of digital solutions, for the systematization of business recovery processes; analogies, abstraction and formalization - for revealing the features of digital accounting of subjects of the state and private sector of the economy; logical generalization - for formulating conclusions. The article attempts to justify the need to use modern Ukrainian accounting programs that are full-fledged analogues of 1C from domestic developers for the security of accounting data in the context of digital trends of the Ukrainian economy and scenarios of its development in the direction of post-war reconstruction. Practical significance consists in the possibility of practical application of the developed recommendations and proposals aimed at improving the system of digitization of accounting by the state and private sectors of the economy in the context of its reconstruction. Prospects for further research are defined in carrying out theoretical and practical substantiation of domestic digital Smart-accounting models within the framework of the Recovery Plan of Ukraine - 2030E - a country with a developed digital economy to ensure the country's economic security.

EARTHQUAKES AND BUSINESS RECOVERY STRATEGIES: A SYNTHESIS AND RESEARCH AGENDA

This study presents the results of a systematic review of the literature on business recovery strategies after earthquakes. Business recovery strategies represents an important research area that has generated a substantial body of knowledge due to devastating earthquakes occurred in the worldwide. Therefore, the authors employ a systematic literature review method to delve into the existing body of literature. A total of 66 articles on this subject published in the period between 1998-2023 were examined in the review. As the main contribution, this study integrates prior fragmented research on business recovery by categorizing studies based on common themes. Thus, the research draws a picture of the literature on business recovery strategies after earthquakes by outlining its characteristics. After identifying knowledge gaps in the literature, the authors offer future research avenues for scholars with high contribution potential.

Determinants of business recovery: The role of government support as moderator (a study on tourism SMEs affected by Lombok earthquake, Indonesia)

BACKGROUND: Natural disasters such as earthquakes have imposed particular problems on small and medium-sized enterprises (SMEs), including on their journey to recovery. Business recovery is a term that has numerous theoretical and practical applications and is frequently regarded as the most elusive stage of a disaster cycle. Hence, it necessitates an exploration. OBJECTIVE: This study examines the determinants of business recovery in the aftermath of a disaster. A framework synthesized from the literature review and hypotheses developed demonstrate factors that drive business recovery. METHODS: This study used an explanatory approach that laid quantitative foundations. The study also tested relevant hypotheses with a statistical approach using the PLS-SEM technique. An off-line survey was conducted using data collected from 272 SMEs in tourism affected by the 2018 Lombok earthquake in Indonesia. The data were analyzed with SmartPLS to test the effects of knowledge management, mitigation strategy, business adaptability, business recovery, and government support. RESULTS: The results indicate that knowledge management, mitigation strategy and business adaptability are determinants of business recovery. However, government support has no influence in leveraging those three determinants of business recovery. This finding may indicate that SMEs that possess a strong level of knowledge management with the ability to formulate a mitigating strategy as well as adapt to certain changes are more likely to succeed in recovering their businesses. In addition, whether or not government support is viable, independently managed SMEs are more likely to progressively perform and be less dependent on aid from other entities on their road to recovery. CONCLUSIONS: KM and mitigation strategy function as determinants of business adaptability subsequent to SMEs’ recovery. On the basis of the resource-based view (RBV), mitigation strategy and business adaptability are influential resources that can leverage firms’ potential for in the quest of competitive advantage and facing environmental turbulence. Nonetheless, government support remains a challenge in the survival of SMEs to cope with the negative impact caused by disaster. Thus, government should strengthen the awareness towards such issue as well as providing much more holistic support in the future particularly to educate SMEs on the importance of mitigation strategy in prior to a disaster.

Risk Management Towards the Recovery and Sustainability of the SMEs Business in the Post COVID-19 Era

Purpose: The objective of this study was to identify risk management supporting the recovery and sustainability of SME businesses in Indonesia after the COVID-19 pandemic crisis. Theoretical Framework: Recent literature, Lima et al (2020) researched risk management in SMEs, using a literature review approach, create a concept of risk management in SMEs, which so far have not been widely studied. The result state that financial risk management and enterprise risk management, are among the most studied in the literature. Design/Methodology/Approach: This research method uses a literature review approach to systematically analyze risk management that has and has not been carried out by SMEs in Indonesia. In addition, it also provides insight and understanding related to risk management needed by SMEs in the recovery period, as well as strategies for adapting sustainable business concepts. Findings: The results of this study explain that SMEs in Indonesia experience many risks in running their business and are too vulnerable to face economic shocks. To adopt the concept of a sustainable business and business recovery after the COVID-19 pandemic, SMEs in Indonesia must carry out comprehensive risk management. Research, Practical & Social Implications: We suggest a future research agenda and highlight the contributions made to executive and management education. Originality/Value: The results indicate that the number of publications is growing, and the management and business area is the one that contributes the most, with the countries that produce in co-authorship also providing the most publications.

Digitalization and post-pandemic recovery of micro-businesses in Colombia

This research paper investigates the correlation between the extent of digitalization and business recovery in microenterprises in Colombia one year after the start of the 2019 Coronavirus (COVID-19). The study involved the analysis of 1.600 surveys conducted across various sectors of microenterprises. The findings revealed that, on average, businesses that had embraced a higher degree of digitization demonstrated a more significant rebound in their sales following the constraints imposed by the pandemic.

Factors that Influence the Utilization of Digital Transactions among the Micro-Business Enterprises in General Santos City

This study investigated the factors that influence the utilization of digital transactions among micro-business enterprises in General Santos City. The application of e-commerce services has rapidly increased in response to the pandemic. Moving toward business recovery, different types of literature have stressed how important the shift to digital technology is for businesses to thrive in the new normal. This study sought to investigate the factors that influence users' preferences for switching from traditional cash-based transactions to electronic commerce systems. The Push-Pull-Mooring Framework was employed as the research model. A descriptive and correlational analysis was conducted using data from 65 retail and 35 wholesale micro-business enterprises in General Santos City. The results indicated that the respondents’ intention to utilize digital transactions is significantly influenced by one push factor which is the transaction inconvenience, also by pull factors which include economic benefit, performance expectancy, effort expectancy, and critical mass, and by mooring factors including trust, perceived security and privacy, and switching costs. To achieve and sustain recovery, assistance, and support for relatively young and small companies might be prioritized in terms of utilizing e-commerce services as well as setting strong policies towards giving aid, especially to micro-business enterprises in developing digital infrastructures and complementing with these strategies is strengthening data privacy and security for these e-commerce services. This study concluded that the advantages that can be obtained from the utilization of e-commerce services, as well as external factors, impose significance on businesses.

COVID-19’S Impact on Malaysian SMEs: Supply Chain Risk Management Disruptions and Challenges for Business Recovery and Continuity

This study aimed to identify the risks associated with the COVID-19 pandemic, analyse the supply chain risk management strategies entrepreneurs employ to ensure business recovery and continuity and propose preventive measures to mitigate interruptions caused by the virus. The study employed a qualitative research approach, notably utilising face-to-face in-depth interviews. The findings indicate that the epidemic impacted all the enterprises that participated in the study, encompassing various industries such as fashion, animation, broadcasting and media production, construction, printing, and trading. The abovementioned issue resulted in project completion delays and exceeded budgetary allocations. Organisations employ a combination of optimistic, aggressive, and neutral strategies to effectively mitigate supply chain risks despite the inherent difficulties they face. Based on the feedback provided by participants, it is imperative for a contingency strategy to incorporate multiple critical approaches. These strategies encompass diversifying suppliers, cultivating strong partnerships, seeking government assistance, drawing lessons from past events, and safeguarding customers.

КОНКУРЕНТОСПРОМОЖНІСТЬ УКРАЇНИ НА СВІТОВОМУ РИНКУ ТУРИСТИЧНИХ ПОСЛУГ В СУЧАСНИХ УМОВАХ

The article examines the Ukrainian tourism market and the potential for growth, analyzes global market trends and factors affecting them. The purpose of the study is to analyze the current state of the Ukrainian tourism market, to identify, analyze and evaluate the factors, potential limitations and challenges of the Ukrainian tourism market. Based on statistical data, an analysis of the current state of tourist activity was carried out. The dynamics of tourist activity are determined by structuring methods. Proposals have been developed for the further development of the tourism industry in the post-war period and for the post-war recovery of tourism. It is established that the post-war and post-war development of the tourism sector of Ukraine requires further research to increase its competitiveness in the global tourism market. It has been established that memorial tourism in Ukraine will be actively developing in the near future. The State Agency for Tourism Development has already presented the Concept of memorialization of memorial sites in the Kyiv region. The ultimate goal of the Concept is to memorialize locations that will become new outposts of national memory, which will be visited by many tourists after the Ukrainian victory. New Concepts of memorialization as a commemoration of the victims of the war tragedy need to be developed for all affected regions of Ukraine, which will be the subject of further research. In order to implement the decisions of the World Tourism Organization (UNWTO) to provide specialized technical assistance to support Ukraine in its post-war reconstruction efforts, including restoration of tourism infrastructure, destination marketing, and capacity building of local tourism stakeholders, it is advisable for the Ukrainian side to work more actively in these areas. In the post-war recovery of the tourism business in Ukraine, it is necessary to rely on the support of national and international organizations, develop and create recovery strategies in the affected regions, include tourism development in strategic post-war recovery programs, involve international experts in the modernization of the country, study the experience of many countries where military operations took place, and develop tourism programs to places of military glory.

ВІДНОВЛЕННЯ ТА РОЗВИТОК БІЗНЕСУ: МАРКЕТИНГОВІ ПІДХОДИ ДО РЕЗИЛЬЄНТНОСТІ СОЦІАЛЬНО-ЕКОНОМІЧНИХ СИСТЕМ

Amidst the persistent socio-economic challenges stemming from hostilities in Ukraine, domestic enterprises must consistently adapt their management decisions and marketing strategies to sustain viability, ensure demand, and enhance competitiveness. The accelerated development of digital technologies and the ongoing digitalization of society have significantly influenced business development in recent years. In response, enterprises need to swiftly identify threats and opportunities, respond instantly to new challenges, and adopt a proactive stance during their marketing activities. This article explores the state of entrepreneurial activity during military operations in Ukraine, revealing that enterprises continue to operate and contribute to the country's economic recovery. The study identifies the main challenges faced by Ukrainian enterprises in wartime conditions, including the loss of customers, declining sales, low solvency of the population, rising prices, a shortage of highly qualified specialists, and the restructuring of marketing activities within enterprises. Key factors contributing to the resilience of socio-economic systems are highlighted, encompassing state support, changes in the economic and social structure, infrastructure development, innovativeness, digitalization of the economy and business, funding opportunities, and international cooperation. The article also identifies essential factors that enable businesses to adapt to the resilience of socio-economic systems, such as the utilization of digital marketing technologies, integration of new platforms, investment in marketing technology and talented marketers, personalized marketing, periodic data collection and utilization, social responsibility, localization and globalization strategies, innovation, creativity, environmental awareness, and resilient marketing. The article proposes specific features for the formation of marketing strategies in the conditions of an economic crisis for the recovery and development of businesses in Ukraine. These features include a comprehensive understanding of the situation, adjustment of the current marketing strategy in accordance with new realities, emphasis on the company's values and mission, fostering innovation and adaptation (such as developing new products or modifying existing ones to meet evolving needs), strengthening online presence, implementing effective budget management, and integrating technology.

Маркетингове управління в забезпеченні резильєнтності бізнесу в умовах BANI-світу

The article develops the theoretical foundations of marketing management to ensure business resilience in the BANI world. The relevance of this area of research is due to the events and transformations that take place in the world and cause evolutionary changes in all spheres of life. The unstable VUCA world was replaced by a more complex, fast, turbulent BANI world, the consequences of which caused destabilization, disorder, spontaneity and cardinal changes. Business adaptability, which was the goal of management in the VUCA world, has been transformed into the need to ensure its resilience in the BANI world. In connection with the formation of new conditions and rules in the external environment, entrepreneurs, managers, and marketers faced an extremely difficult task to ensure the recovery of business after losses and increase its resilience to new shocks in the future. To solve it, the need to introduce new methods of marketing management has been determined. The conception of opportunity marketing is proposed, the basic principles of which are defined on the basis of the BANI-method, which includes components (creation of the new, optimism and audacity, non-standard approaches, awareness of reality), which are peculiar responses to the features of the BANI-world (fragility, anxiety, nonlinearity, incomprehensibility). The necessity of adhering to the following principles is substantiated: speed, proactivity, optimism and positive thinking, creativity, critical thinking; this will allow you to change the focus of the company, which has lost its relevance, to define a new strategic vision; identify and/or purposefully create new opportunities for business development; initiate innovation and implement changes to improve the product, processes, technology, service, communications, brand. Marketing management based on the principles of the conception of opportunity marketing will ensure the resilience of the business, in particular its ability to withstand the challenges and threats of the BANI world, and find new opportunities for further development.

Strategy for Business Recovery in NOVO Cinemas

The COVID-19 pandemic has caused significant disruptions to the global economy, including the entertainment industry. NOVO Cinemas, a leading cinema chain in the Middle East, has been severely impacted by the pandemic, resulting in a significant decline in revenue and footfall. The purpose of this research is to develop a strategy for business recovery in NOVO Cinemas. Amidst the backdrop of the COVID-19 pandemic's profound impact on the global economy and the entertainment sector, NOVO Cinemas, a prominent cinema chain in the Middle East, finds itself grappling with substantial declines in revenue and attendance. Recognizing the urgent need for a path to recovery, this research endeavors to develop a comprehensive strategy tailored specifically for NOVO Cinemas. Motivated by the imperative to navigate the unprecedented challenges posed by the pandemic, the study seeks to analyze the current market dynamics and the unique ramifications experienced by the cinema industry. It aims to uncover the underlying factors contributing to NOVO Cinemas' vulnerabilities while also identifying potential avenues for revitalization and growth. Hypothesizing that a multifaceted approach encompassing technological integration, revenue diversification, and a customer-centric ethos can pave the way for NOVO Cinemas' resurgence, the research adopts a rigorous methodology. It employs a combination of qualitative and quantitative analyses, including market surveys, financial assessments, and consumer behavior studies, to glean actionable insights. The results of the study reveal nuanced insights into NOVO Cinemas' strengths, weaknesses, and untapped opportunities. It underscores the significance of embracing innovative technologies, exploring new revenue streams, and prioritizing customer satisfaction as pivotal elements of the recovery strategy. In conclusion, the research underscores the critical importance of proactive adaptation and strategic foresight in overcoming the challenges wrought by the pandemic. By offering pragmatic recommendations tailored to NOVO Cinemas' unique circumstances, this study not only provides a roadmap for its recovery but also contributes novel insights that can inform the broader strategies of cinema chains in the region.

НАУКОВІ ДОСЛІДЖЕННЯ У СФЕРІ ІНФОРМАЦІЙНОЇ ЕКОНОМІКИ В УМОВАХ ВІЙНИ

Scientific research in wartime plays an important role in restoring the current state of Ukraine's economy, as it allows to identify economic problems and market dynamics, assess social and cultural factors of renovation of production and consumption processes, distribution and exchange of resources, as well as to influence the acceleration of investment and other management decisions. Such studies can not only reflect the impact of destructive factors on the economic situation in these difficult conditions, but can also be used to study social interaction between business entities, analysis of trends in economic sectors, and contribute to the formation of strategies for business recovery at the local level and sustainable development of Ukrainian society as a whole. In such a circumstance, the issues of theoretical and scientific-methodological approaches to sociological research as part of scientific research in the information economy are becoming increasingly important. This study identifies the main trends in the use of modern digital tools for conducting sociological research, to be used for analyzing the state of economic entities that suffer the most and require urgent economic decisions, as well as for forming a portfolio of economic recovery projects at the micro, meso and macro levels. The authors note a special place for digital tools in sociological research, that help for systematic collection, analysis and interpretation of data for the purpose of understanding social phenomena and processes. The most important are digital collection of data, use of the Internet as a multidisciplinary tool for socio-economic studies: the standard of living of the population; lifestyles of certain social groups; social assessment of the consequences of economic reforms; quality of social services; subjects of economic (entrepreneurial) activity. The peculiarity of sociological research is that the analysis, generalizations and conclusions are based on actual material obtained by the researcher himself. Such information can be useful to the government and international organizations in developing strategies for economic recovery and support after the war.

INTERNATIONAL EXPERIENCE IN APPLYING INNOVATIVE FINANCIAL MANAGEMENT STRATEGIES FOR BUSINESS REVITALIZATION IN THE POST-WAR PERIOD IN UKRAINE

This article explores international experience in applying innovative financial management strategies for business revitalization in the post-war period in Ukraine. Special attention is given to the destruction of industrial and infrastructural objects, as well as the tactics employed by the russian military aggression aimed at undermining the country's economic potential and creating a humanitarian disaster. The article also analyzes the issue of financing the post-crisis development of enterprises in Ukraine and discusses various sources of funding such as development funds, grants, subsidies, and other financial instruments. However, further research is needed to propose an effective strategic model for revitalizing enterprises in the liberated territories, particularly in the southern part of Ukraine. The findings of this study will contribute to understanding and applying innovative financial strategies for business recovery in Ukraine after the war period, as well as developing effective approaches to support enterprises in the post-crisis period. This article sheds light on international experiences in employing innovative financial management strategies to revitalize businesses in post-war Ukraine. The insights gained from this research will contribute to understanding and implementing effective financial approaches for business recovery in the aftermath of war, as well as supporting the activation of entrepreneurship during the post-crisis period.

BUSINESS RECOVERY AND INSTITUTIONAL CONSTRAINTS: EVIDENCE FROM VISEGRAD COUNTRIES AND SERBIA

The current study investigates how institutional constraints and firms’ and entrepreneurs’ characteristics affect business recovery. Some elements have not yet been rigorously examined in the existing literature, especially not concerning the post-communist countries’ business recovery component and the same is the research gap current study intended to address. To evaluate the study model, ordinal logistic regression was used. More than 300 valid questionnaires are collected from the Czech Republic, Hungary, and Serbia. The findings show that factors such as firm tenure and size, location, sector, entrepreneurial motivation, product change, etc., have conflicting effects on business recovery. Some of the outcomes of the present study is supported by the existing studies and some requires further research. The study focuses on the less explored independent variables and their association with business recovery, specifically on SMEs, which highlights the paper’s originality. The output of the current study adds to the existing literature of business recovery and institutional constraints. Policymakers interested in removing institutional limitations and promoting a quicker business recovery for SMEs are drawn to the research. The study findings are also helpful from a managerial standpoint because business owners and managers significantly impact decisions about entrepreneur motivation, product change, and other issues.

The role of organizational culture dimension in business recovery: a post Covid-19 perspective in the hotel industry in Kenya

The study investigated the role played by the dimensions of organizational culture in a strategic management process to help organizations in the hotel industry realize business recovery in a post-COVID-19 period. The conceptualization of the study relied on the strategic thinking lens preceding strategic management processes to situate the role of organizational culture in the strategic management processes undertaken at the strategy formulation phase. The element of organization's mission was argued to be the relevant practice for anchoring culture into the strategy formulation process. Four types of organizational culture were studied in business recovery. Three objectives guided the study focusing on the extent of the adoption of culture types, levels of business recovery attained and the effect of the level of adoption on the level of business recovery attained. A sample of 57 hotels was selected and 189 respondents were drawn from functional units in each of the hotels. The study reports that the level of adoption of the culture is at a high level while the extent of business recovery is at a moderate level of between 20-40% growth. Innovation culture does not have a significant statistical effect while market, customer orientation and adhocracy cultures have a significant statistical effect on the level of business recovery. The study concludes that the relevant cultures were responsible for aligning culture with the strategy formulation phase through the component of the mission of an organization and that the process needs to embrace combined attributes of the underpinning theories of RBV and the organizational culture theory. The study calls on future research to integrate more aspects of strategic thinking and consider using more objective sources of research data.

Strategi Pemulihan UMKM Kuliner Pasca Pandemi Covid-19

The purpose of this study is to determine the recovery strategy of culinary MSMEs after the Covid-19 pandemic in Purwokerto City. This research is a qualitative research with phenomenological approach. The informants in this study is 6 owners of culinary MSMEs in Purwokerto City using purposive sampling method. Interviews and observations are the types of data collection in this study. The data validity test in this study uses triangulation of theory. Data analysis techniques used by researcher are data reduction, data presentation, and conclusion drawing. The results of this study show that all informants have carried out business recovery strategies. The recovery strategies include providing discount promos, using technology-based production tools, conducting online promotions, and keeping business financial records.

Analyzing the Inter-relationships of Business Recovery Challenges in the Manufacturing Industry: Implications for Post-pandemic Supply Chain Resilience

Analyzing the Inter-relationships of Business Recovery Challenges in the Manufacturing Industry: Implications for Post-pandemic Supply Chain Resilience