Crisis In Industry Research Articles

SOCIO-ECONOMIC SUSTAINABILITY OF THE TOURISM SECTOR ENTERPRISES IN THE CONTEXT OF THE COVID-19 PANDEMIC: GLOBAL AND UKRAINIAN DIMENSIONS

In 2020, one of the main negative factors affecting the development of the tourism sector was the COVID-19 pandemic. Complicating the economic situation due to the coronavirus crisis for developing countries and local communities that are disproportionately dependent on tourism threatens the growth of poverty in these countries, not to mention the possibility of developing the tourism industry on a sustainable basis. The article examines the situation in the tourism industry of Ukraine, which has arisen as a result of the spread of the COVID-19 pandemic, and analyzes the possibilities of recovery and development of the tourism industry based on sustainable tourism. Based on the analysis of statistical data and the study of the level and trends in the development of the tourism business at the global and national levels, the authors proposed practical directions for the recovery of the tourism industry in the context of COVID-19, which will be beneficial not only for Ukraine but for developing countries as well. It is shown that the crisis in the tourism industry, which arose as a result of quarantine restrictions to reduce the spread of the pandemic, has complicated the process of implementing the Sustainable Tourism Concept for countries with low economic performance. It has been proven that the further development of tourism in developing countries based on cooperation and consistency of measures is needed to regulate travel at the bilateral, regional and international levels, to ensure safety for travellers and workers. Bringing together the government, the public, and the business community to work on a practical and implementable plan to revive the tourism sector. Increasing investment in technology, green infrastructure and jobs.

EVALUATION OF THE AUTOMOBILE CHIP CRISIS IN THE CONTEXT OF CRISIS MANAGEMENT

The automotive industry is a rapidly evolving sector that relies heavily on technological advancements. Chip technologies are essential for various automotive systems, including control mechanisms and infotainment systems. In this context, the chip crisis has exposed vulnerabilities in the supply chain and the industry's dependance on chip supplies. The primary issue of the crisis is the bottleneck facing automakers, which negatively impacts production processes and sales due to chip shortages. The purpose of this study is to analyze the chip crisis in the automotive industry and its implications for crisis management. The crisis arises from a shortage of chips in the supply chain, which has adverse effects on automakers. This research highlights the significance of this particular crisis by examining its impact on crisis management practices. It evaluates the causes, effects, and management strategies of the crisis from a crisis management perspective. The scale of this issue demonstrates that chip supply challenges affect not only the automotive industry but also other sectors. This study emphasizes the importance of supply chain and crisis management practices in the automotive industry by analyzing the causes, effects, and management strategies of the crisis. It concludes that companies, especially in the automotive sector, need to adopt more proactive approaches in response to such crises.

What drives household protective actions in an industrial crisis? Insights from the East Palestine train derailment

Complex industrial disasters illustrate the challenges of underdeveloped public warning systems. Unlike most natural disasters, quickly identifying hazardous materials and assessing their threats is crucial for developing protective action recommendations (PARs) that guide household response in industrial crises. The 2023 East Palestine, Ohio (USA) train derailment, chemical spill, and fires revealed that gaps in rapidly identifying hazardous materials, and the threats they present, can severely impact the public warning system. As the crisis unfolded, responding agencies left crucial questions unanswered, leaving community members uncertain about their safety, the extent of environmental contamination, and what protective actions to take. It is imperative to study the drivers of household protective actions in the absence of a developed warning system and well-established PARS. To achieve this, we conducted a community survey in Ohio, Pennsylvania, and West Virginia (n = 259) in response to the East Palestine crisis. We used multivariate logistic regressions to identify statistically significant explanatory factors that predict protective action response. Our findings reveal gaps in response, where challenges identifying and communicating hazards created environmental justice concerns. We provide policy recommendations to strengthen hazard identification and outline further work to include equity as a pillar of environmental disaster response.

The mechanism of brand crisis influence on consumer purchase intentions in the context of green development

The promotion of new energy vehicles (NEVs) in China not only provides a pathway for the country to achieve its “dual carbon” strategic goals but also facilitates the transformation and upgrading of the automotive industry, contributing to social development and economic growth. This study examines the influence mechanism of brand crises on consumer purchase intentions within the NEV sector, an area critical to sustainable infrastructure and green development. Using a framework of “brand crisis—consumer negative emotions/perceived risk—consumer purchase intention,” and data from consumer surveys conducted in Beijing, Shanghai, Zhengzhou, and two other locations, the study employs regression models to analyze the relationship between brand crises and purchase intentions. Mediation effect models are used to explore how brand crises impact consumer purchase intentions through negative emotions and perceived risks. The results indicate that brand crises significantly reduce consumers’ willingness to purchase products from affected brands, posing a threat to the market stability and growth of the NEV sector. Moreover, negative emotions and perceived risks mediate the relationship between brand crises and purchase intentions, highlighting the importance of addressing both emotional and cognitive responses in crisis management strategies. To mitigate the adverse effects of brand crises, companies should adopt measures to improve consumer sentiment and reduce perceived risks, such as proactive communication, transparency, and effective recall procedures. Additionally, factors such as NEV performance, price, and charging infrastructure coverage also play a crucial role in consumer purchase decisions. Therefore, companies must consider these factors when formulating crisis response strategies to swiftly regain consumer trust and promote sustainable market and green development. This study contributes to the broader discourse on infrastructure development and public policy by providing insights into how brand crises in the NEV industry can be managed to support sustainable economic growth and development. By understanding the mechanisms through which brand crises affect consumer behavior, this research offers valuable recommendations for policymakers, industry professionals, and academic researchers focused on the interplay between infrastructure, development, and policy.

Tác động của cấu trúc vốn đến suất sinh lời trên tổng tài sản của các doanh nghiệp ngành dầu khí

The study analyzes the impact of capital structure on the Return on Assets (ROA) of oil and gas industry enterprises during the period from 2014 to 2022. Based on data from 44 oil and gas enterprises in Vietnam with 396 observations, the research employs the Pooled Ordinary Least Squares (OLS), Fixed Effects Model (FEM), Random Effects Model (REM), and Generalized Least Squares (GLS) models. Specifically, the revenue growth rate (SGROWTH) has a positive impact on ROA, while the short-term debt ratio (STD) and the period of oil and gas industry crisis (T) have a negative impact on the Return on Assets of oil and gas industry enterprises in Vietnam. This study provides information on the impact of capital structure on oil and gas industry enterprises in Vietnam during the crisis period, aiming to assist business managers in identifying potential risks during the crisis period and proposing appropriate and timely measures.

Drysfeydd y Cymoedd: 1 The Sub-Topographies of South Wales Valleys’ Industrial Crises

In Unclaimed Experience: Trauma, Narrative, and History, Cathy Caruth defines as traumatic our encounters not with life-threatening events but with those that cause a break in our perception of time. She explains that the memory of trauma is always fleeting, leaving connections with the time and place of traumatic occurrence fragile and obscure. Caruth’s definitions shape the work of contemporary geographers who argue that trauma is fundamentally unmappable. Does trauma’s relationship to space change when traumatization becomes repetitive and systematic? To explore systematic traumatization’s relationship to space, I adopt Lauren Berlant’s trauma definition as a crisis of ordinariness and revisit the South Wales Valleys region and its coal mining history as traumatic and contested. Using the exceptional Aberfan 1966 disaster as a starting point, I investigate a more “common” industrial crisis of the same period and explore its relationship to the industrial space by analyzing its discursive and drawing records. In this journey, sketching out the spatial qualities of the colliery’s maze is crucial for understanding the crisis’ occurrence, its belatedness and commemoration.

INVESTIGATING THE EFFECTS OF COVID-19 ON TOURISM IN THE G7 COUNTRIES

Natural and human-made crises can significantly impact the development of countries’ tourism industries. The susceptibility of countries to these crises depends on their policies, planning, and management in facing diverse challenges. This article aims to investigate the effects of the COVID-19 pandemic on the tourism industry in G7 countries by comparing rankings and positions on indices in 2016 and 2020. Data collected from the RANking COMparison (RANCOM), Proximity Indexed Value (PIV), and Double Normalization Compromise Ranking of Alternatives from Distance to Ideal Solution (DNCRADIS) models have been utilized for data analysis. The research findings indicate noticeable differences in using different models, as the rankings and positions of G7 countries for the years 2016 and 2020, except for two countries, the United States and France, have been different. The research results demonstrate that the COVID-19 crisis had significant impacts on the tourism industries of G7 countries. Countries like the United States, France, and the United Kingdom appear as leading nations in the tourism industry, while Japan and Canada faced challenges, and Germany and Italy experienced changes in their positions. Based on these results, officials and planners in the tourism industry of G7 countries can make appropriate decisions for the development and improvement of tourism under similar crisis conditions. Moreover, these findings can serve as a valuable guide for other countries in managing similar crises in the tourism industry.

Economic Impact and Adaptive Responses in the Global Hotel Industry During the COVID-19 Pandemic: A Comparative Analysis

Abstract The COVID-19 pandemic has become a challenge of unprecedented scale for various industries, and the hotel industry has not escaped the waves of economic uncertainty. Economic indicators in the hotel industry, which once reflected growth and prosperity, abruptly turned into indicators of crisis and the need for adaptation. The main aim of the presented article is the evaluation, categorization, and comparison of hotel-type accommodation facilities in selected countries based on their economic indicators in the pandemic period. Comparison and categorization of countries will be carried out using a multivariate statistical method – cluster analysis. All investigated indicators were obtained by the method of sociological inquiry in the form of a questionnaire. The application of cluster analysis identified the economic importance and potential in the countries in question using the investigated economic indicators in the hotel industry. The results showed a significant economic difference between the countries. The analysis divided the requested countries into five clusters – categories from the lowest (Turkey) to the highest impact of the COVID-19 pandemic on the economic situation in the hotel industry (Slovak Republic). Since the prevention of crises in the hotel industry is a key aspect that can minimize negative consequences and ensure the sustainability of operations, at the end of the presented article we have outlined the measures that accommodation establishments should apply in their normal practice.

Sustainable transportation perspective: how our preferences for zero-emission vehicles change through time?

Abstract The Slovenian automobile market has gained great momentum in the past decade. However, the demand contractions in the supply chain created a huge crisis in the automobile industry in Slovenia. The automotive industry's new competitive dynamics focus on green logistics, sustainability, and purchase decisions. The study aims to comparatively analyze the factors affecting consumers' automobile purchasing decisions from a sustainable transportation perspective. In the survey, we included 1502 participants to identify the most important parameters of consumer behaviour related to purchasing alternative fuel vehicles. In the regression analysis results in the first analysis, non-financial factors sub-dimensions such as the body shape and fuel type, vehicle size, and style/appearance/colour had a positive effect on purchasing decisions of zero-emission cars. The second analysis was performed 5 years after the first analysis. Moreover, the findings provide insights that non-financial factors sub-dimensions such as entertainment system, vehicle size, and vehicle capacity and financial factors sub-dimensions between the insurance group for the vehicle, finance deals, value for money, annual road tax had a positive effect on purchasing decisions of zero-emission vehicles in the second analysis. Results show that the most relevant factor for purchasing zero-emission vehicles is total vehicle price and that the segment of potential alternative fuel vehicle consumers is much higher than it has been anticipated. This study provides an overview of the current understanding of individuals' vehicle purchasing decisions.

Žensko perilo kot vzpodbuda za nastanek novomeške tekstilne industrije

Labod, in the city of Novo mesto, was one of the leading textile factories in Yugoslavia. It was severely impaired and practically destroyed by the European textile industry crisis and the Slovenian social transition after 1991. It was established by the peddler Ivan Medic and tailor Joško Povh. Medic took advantage of the demand for women’s underwear after World War I. Using a supply system that remained a permanent characteristic of his business operations, he raised enough capital and loans to build the first textile factory in the Dolenjska region. Later, his company specialised in the production of men’s shirts. Shortly before World War II, he established another textile factory, which was later renamed Novoteks. Ivan Medic’s activities and business operations represent an example of the remarkable success of a man from the countryside who, thanks to the considerable lingerie demand, rose from a mere peddler and raw materials supplier to become a leading trans-regional entrepreneur of his time.

CONSEQUENCES OF COVID-19 ON AVIATION INDUSTRY: A MENACE TO GLOBAL AIRLINES

The aviation industry has been considered one of the major contributors to the economy of nations for several decades. As a sub-sector of the aviation industry, airlines are considered the fastest mode of transportation for passengers and cargo across the globe. Since its invention, airlines have served millions of people to move from one country to another as well as within the country. Despite natural calamities and global war affairs, the airline industry has achieved immense growth in recent decades. In addition to the progress of airlines, coronavirus disease 2019 (COVID-19) has become a major hindrance to providing services to people around the world. Due to the rapid spread of deadly diseases, several airline firms have halted their air travel services in many parts of the world. As lockdowns and travel restrictions were enforced, this article examines the crisis of the airline industry after the onset of the COVID-19 pandemic.

Review: Detect and Overcomes the Problem in Project Finance

Abstract: Despite the increasing investment in constructional development over the past decade, a systematic review of construction project financing is lacking. The objectives of this paper are to conduct a systematic review to examine the policies, practices, and research efforts in the area of project finance in construction projects and to explore the potential opportunities for future research. To achieve these goals, this paper first reviewed the reasons for financial crises in the construction industry and sustainable construction project financing practices implemented by the critical analysis method for Kolhapur district. Project finance refers to the funding of long-term projects, such as public infrastructure or services, industrial projects, and others, through a specific financial structure. Finances can consist of a mix of debt and equity. The cash flows from the project enable servicing of the debt and repayment of debt and equity. This paper contributes to the body of knowledge by reviewing existing policies, practices, and research efforts in the area of construction project financing. Meanwhile, the findings from this paper benefit the industry as well, because they are able to provide practitioners with a holistic view of risk and uncertainty, thereby enhancing their knowledge and skills in this regard

SMEs’ resilience and cross-industry innovation before and after a crisis

Industry crises regularly threaten the existence of small- and medium-sized enterprises (SMEs) and place demands on their resilience while simultaneously providing opportunities for cross-industry innovation (CII). The current literature on CII has not examined how SMEs engaged in CII during a crisis. Using in-depth interviews conducted prior to the oil crisis in 2014 and at the end of the crisis in 2018, we evaluate how the disposition of nine SMEs towards CII contributes to their resilience. We show that CII capabilities strategy and mindset promote absorptive and adaptive resilience. Further, the longitudinal aspect highlights the mismatch between CII opportunities identified during prosperity and SMEs’ ability to realise these opportunities during a crisis. This is often rooted in the challenges of understanding the industry structure of the new CII segment. Successful CII is positive for SMEs’ resilience, and policy initiatives should strive to bridge industries, providing transparency for SMEs pursuing CII.

An Analysis of Russel Brand’s Vlog on “The Truth about Pfizer’s Vaccines”

The spread of misinformation is a growing concern in today's digital age. The Vlog by Russel Brand titled "The Truth about Pfizer's Vaccines" features various claims about the safety and efficacy of Pfizer's COVID-19 vaccine. The study sought to answer the question, “How does the Vlog “The Truth about Pfizer’s Vaccines” constructed for public understanding and engagement?” The study used Kenneth Burke’s Dramatism Theory to examine the arguments in Russel Brand’s Vlog. It analyzed both stated and implied messages and made an in-depth look at the underlying reasons and purpose of such messages and meaning-making. In this study, Brand’s Vlog on Pfizer’s vaccines was examined using Burke’s Pentad. The study used a qualitative design with Textual Analysis as a tool. Concepts of construction, understanding, and engagement were examined using Dramatic Pentad while understanding and engagement were analyzed using Identification and Guilt. The Vlog “The Truth about Pfizer’s Vaccines” was constructed for public awareness and engagement, not so much for understanding. The Vlog emphasized the possible conspiracy between academic scientists and pharmaceutical giants. It, however, failed to provide an understanding as to how the system operates given the health crisis, professional and ethical standards of industries and communities involved, and policies, programs, and regulations both in the private and public sectors. Overall, Brand’s Vlog appealed to the public with this formula: Keep the discussion simple, center on the message by repetition, and target the public’s emotions. Keywords: Vlog, dramatism, conspiracy, pharmaceutical industry, Pfizer vaccine.

Overcoming the crisis in Korea's shipping industry, 1980–1988

Korea's shipping industry, which began to grow rapidly during the 1970s, faced a crisis in the early 1980s. The leading cause of the crisis was the significant slump in the shipping market caused by the second oil shock and the overcapacity of tonnages through the acquisition of second-hand vessels at a high price during the shipping boom in the early 1980s. The crisis in the shipping industry could have spread directly to the entire banking sector and led to a catastrophe in the national economy. The military government implemented the Shipping Industry Rationalization policy from 1983 to 1988 to prevent such a collapse of the national economy. This article reviews the cause of the shipping industry crisis in Korea in the 1980s and the achievements and limitations of the Shipping Industry Rationalization policy as a way of overcoming the crisis.

Italian women workers and women activists between home and factory: the struggle against labour precarity (1950s–1970s)

AbstractFrom a gender historical perspective, labour precarity constitutes a long-term phenomenon. Women's work represents a privileged observatory to understand how instability and precarity also characterised the cycle of economic and industrial expansion of the 1950s and 1960s. The article compares the conditions of female factory workers with those of home-based workers, a traditionally invisible category of workers, who between the 1960s and 1970s promoted demonstrations and protests with the support of trade unions, women's associations and local institutions. Changes in the subjectivity of women workers and homeworkers, whose demands often came together and gave rise to joint protests, not only became part of broader discussions on the relationship between industrial crisis and precariousness, but also generated discourses on specific forms of work that are now central to debates on flexible/precarious work such as part-time work.

Fashion industry in crisis: a systematic literature review 1972–2022

PurposeThis systematic literature review presents the state of the field of fashion and crisis communication. The quantitative coding offers insight into dominant and emergent themes in one of the most crisis-prone industries. This review also offers a framework for future research.Design/methodology/approachThis study uses a systematic literature review approach. 205 academic articles were gathered in total using the search term “fashion industry crisis”. Subsequently, they were quantitatively coded using the Diers-Lawson (2016) Crisis Communication Code Book.FindingsFindings show an increase in the fashion industry crisis with clear emergent themes such as sustainability, emphasising the truly global and multidisciplinary nature of the industry. Findings also reveal a genuine lack of theoretical grounding, with over 80% of the articles coded using no crisis communication theory. The findings also suggest value co-creation ought to be a priority for this agenda moving forward, as it overlaps with emerging themes and is a practical tool and concept to support crisis prevention and management through an extension of the Stakeholder Relationship Model (SRM) Model.Research limitations/implicationsAs a largely under-researched area in crisis communication, the findings present a new opportunity to explore fashion within its context and contribute. At this point, the research field is lacking, and there is room for theory testing and hypothesis building. The findings and themes from the research present a development of the original SRM model, SRM Val-Co.Practical implicationsAs well as research implications, the proposed framework provides practical solutions for the future of the fashion industry.Originality/valueAs a largely under-researched area in crisis communication, the findings demonstrate a new opportunity to explore fashion within its context and contribute because there is a dearth of research and a lack of theoretical development. Therefore, the proposed framework provides practical solutions for the fashion industry’s future. The findings and themes from the research present a development of the original SRM model, SRM Val-Co.

중국 주택시장의 비대칭적 변동성에 관한 연구

Purpose – This study analyzes asymmetrical volatility in the Chinese housing market. Particularly, it aims to find whether housing market returns are positively or negatively related to subsequent volatility. Design/Methodology/Approach – The GJR-GARCH model applies to returns on the Chinese housing price index from January 2006 to December 2022. To consider the possibility that the nature of asymmetry depends on the sample period, we repeatedly estimate multiple sub-samples by increasing the end point by one point with the starting point of the sample fixed at January 2006. The period of January 2009 - December 2022 was also analyzed, using January 2009 as the starting point, to exclude the impact of large negative returns during the 2008 global financial crisis. Findings – First, t he nature of a symmetry varies g reatly depending on t he e nd point. Second, when January 2006 is the starting point, a negative relationship between returns and subsequent volatility referred to as typical asymmetry is found for most end points between December 2009 and May 2011, which seems closely related to large negative returns during the 2008 crisis. Third, when January 2009 is the starting point, a positive relationship between returns and subsequent volatility called reverse asymmetry is revealed when the end point is between December 2012 and November 2013, and between August 2016 and December 2022. Research Implications – The reverse asymmetric volatility for the period of 2009-2022 points to the possibility of speculative bubbles in the housing market, supported by the crisis in the Chinese real estate industry from 2021 to 2023.

Walras and Tugan-Baranovsky on socialism: Reconciling economic science and social ideal

Nowadays, Leon Walras (1839—1910) is well-known first and foremost for his “Elements of pure political economy, or the theory of public wealth” (1874, 1877) and Mikhail Ivanovich Tugan-Baranovsky (1865—1919) gained a wide recognition due to his book “Industrial crises in contemporary England: Their causes and influences on the life of the people” (1894), which had a significant impact on the development of economics. At the same time, both economists were deeply concerned not only with theoretical problems, but also with those that are now considered beyond the scope of theory, the problem of social ideal and that of a more just social system being among them. Walras and Tugan-Baranovsky associated the embodiment of the social ideal with socialism and strived for an economic system that corresponded to that ideal, albeit their conceptions of socialism being different. The principal opportunity to achieve reconciliation between science and ideal was associated with a synthetic approach reconciling the scientific method and ideal, economics being considered “a bridge” between them, or a «testing ground», where the reconciliation was to take place. Although history has shown that Walras’s and Tugan-Baranovsky’s ideas of socialism were utopian, the very fact that two eminent economists were deeply concerned with the problem of social ideal and socialism at a time when the foundations of modern economics were being laid, shows that the striving of economists to create objective and rigorous science was, to a measure, driven by their aspiration to solve the social problem and to set up a social and economic system which is rational and more just than the existing one

The Effect of The Pandemic on Public Relations DIY Tourism: SWOT Review

This study evaluates the crisis in the DIY tourism industry due to the COVID-19 pandemic, with a focus on the crisis management and communication strategies adopted by the DIY Tourism Office. Through SWOT analysis, the research identifies strengths, weaknesses, opportunities, and threats influencing the adjustment and recovery of DIY tourism. The findings underscore the need for enhancing human resources competence, integrated marketing, and cross-sector collaboration. The study aims to provide insights for the DIY Tourism Office and other stakeholders in crisis management and strengthening the DIY tourism industry.