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Restarting MSMEs and start-ups post COVID-19: a grounded theory approach to identify success factors to tackle changed business landscape.

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Title: Restarting MSMEs and start-ups post COVID-19: a grounded theory approach to identify success factors to tackle changed business landscape.
Authors: Varma, Deepkumar1 (AUTHOR) deepkumar@iitb.ac.in, Dutta, Pankaj2 (AUTHOR) pdutta@iitb.ac.in
Source: Benchmarking: An International Journal. 2023, Vol. 30 Issue 6, p1912-1941. 30p.
Subjects: Small business, Grounded theory, COVID-19, Businesspeople, Consumer preferences, New business enterprises
Abstract: Purpose: Small businesses and start-ups have started to reopen post coronavirus disease 2019 (COVID-19) lockdowns but are facing numerous challenges mainly due to changed customer preferences and the need to fine-tune the business models. This research aims to identify the important aspects that start-ups need to focus on, as they weather the COVID-19 pandemic storm. Design/methodology/approach: Research uses constructivist grounded theory methodology to analyse data collected through in-depth semi-structured interviews with entrepreneurs and senior employees at start-ups. A conceptual model based on nine categories impacting a start-up's performance is investigated. Interview memos are thematically analysed to identify repeated ideas, concepts or elements that become apparent. Findings: Study reveals that employees' and customers' safety, prudent cost management and online presence/doorstep services are key for start-ups to succeed today's changed business landscape due to COVID-19. Practical implications: Findings act as a practical guide for start-ups in setting mechanisms, optimizing operations and fine-tuning strategy to address COVID-19 challenges. Start-ups are advised to evaluate the implications of the three findings on their respective businesses to successfully tackle the challenges posed by COVID-19. Originality/value: This research, being cognizant of a start-up's unique characteristics and nuances, takes a fresh approach to identify key aspects that start-ups need to focus on and fine-tune in the wake of COVID-19. The paper enriches scientific research of understanding impact of COVID-19 on organizations by specifically surfacing how start-ups can learn and adapt by knowing how other start-ups are surviving today. [ABSTRACT FROM AUTHOR]
Copyright of Benchmarking: An International Journal is the property of Emerald Publishing Limited and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Database: Engineering Source
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  Data: Restarting MSMEs and start-ups post COVID-19: a grounded theory approach to identify success factors to tackle changed business landscape.
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  Data: <searchLink fieldCode="AR" term="%22Varma%2C+Deepkumar%22">Varma, Deepkumar</searchLink><relatesTo>1</relatesTo> (AUTHOR)<i> deepkumar@iitb.ac.in</i><br /><searchLink fieldCode="AR" term="%22Dutta%2C+Pankaj%22">Dutta, Pankaj</searchLink><relatesTo>2</relatesTo> (AUTHOR)<i> pdutta@iitb.ac.in</i>
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  Data: <searchLink fieldCode="JN" term="%22Benchmarking%3A+An+International+Journal%22">Benchmarking: An International Journal</searchLink>. 2023, Vol. 30 Issue 6, p1912-1941. 30p.
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  Data: <searchLink fieldCode="DE" term="%22Small+business%22">Small business</searchLink><br /><searchLink fieldCode="DE" term="%22Grounded+theory%22">Grounded theory</searchLink><br /><searchLink fieldCode="DE" term="%22COVID-19%22">COVID-19</searchLink><br /><searchLink fieldCode="DE" term="%22Businesspeople%22">Businesspeople</searchLink><br /><searchLink fieldCode="DE" term="%22Consumer+preferences%22">Consumer preferences</searchLink><br /><searchLink fieldCode="DE" term="%22New+business+enterprises%22">New business enterprises</searchLink>
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: Purpose: Small businesses and start-ups have started to reopen post coronavirus disease 2019 (COVID-19) lockdowns but are facing numerous challenges mainly due to changed customer preferences and the need to fine-tune the business models. This research aims to identify the important aspects that start-ups need to focus on, as they weather the COVID-19 pandemic storm. Design/methodology/approach: Research uses constructivist grounded theory methodology to analyse data collected through in-depth semi-structured interviews with entrepreneurs and senior employees at start-ups. A conceptual model based on nine categories impacting a start-up's performance is investigated. Interview memos are thematically analysed to identify repeated ideas, concepts or elements that become apparent. Findings: Study reveals that employees' and customers' safety, prudent cost management and online presence/doorstep services are key for start-ups to succeed today's changed business landscape due to COVID-19. Practical implications: Findings act as a practical guide for start-ups in setting mechanisms, optimizing operations and fine-tuning strategy to address COVID-19 challenges. Start-ups are advised to evaluate the implications of the three findings on their respective businesses to successfully tackle the challenges posed by COVID-19. Originality/value: This research, being cognizant of a start-up's unique characteristics and nuances, takes a fresh approach to identify key aspects that start-ups need to focus on and fine-tune in the wake of COVID-19. The paper enriches scientific research of understanding impact of COVID-19 on organizations by specifically surfacing how start-ups can learn and adapt by knowing how other start-ups are surviving today. [ABSTRACT FROM AUTHOR]
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  Data: <i>Copyright of Benchmarking: An International Journal is the property of Emerald Publishing Limited and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
PLink https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=egs&AN=164720512
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    Identifiers:
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        Value: 10.1108/BIJ-09-2021-0535
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        Text: English
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        PageCount: 30
        StartPage: 1912
    Subjects:
      – SubjectFull: Small business
        Type: general
      – SubjectFull: Grounded theory
        Type: general
      – SubjectFull: COVID-19
        Type: general
      – SubjectFull: Businesspeople
        Type: general
      – SubjectFull: Consumer preferences
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      – SubjectFull: New business enterprises
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            NameFull: Varma, Deepkumar
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            NameFull: Dutta, Pankaj
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              M: 07
              Text: 2023
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              Y: 2023
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