Business-community relations under COVID-19: A study of micro and small firms.

In considering the premises of social capital and stakeholder theory, this study examines the extent to which firm-community relationships were affected during the COVID-19 crisis, and the significance of firms for their community during this unprecedented event. Responses from 107 Italian micro and small firms were gathered through an online questionnaire. The findings first reveal a strengthening of relations, particularly between firms and other businesses in their community; however, participants' comments also recognise no changes or even weakening relations. Second, three dimensions highlighting the significance of firms' survival during the crisis emerged: the community context, underlining firms' socioeconomic and symbolic contributions, the immediate stakeholders, emphasising contributions towards employment and support of local businesses, and the broader community-society context, underscoring firms' contribution towards consumer and societal needs. The study proposes a conceptual framework illustrating various relationships between the findings and the considered conceptual underpinnings and suggests various implications.

Entrepreneurial action and unprecedented uncertainty: The cases of New South Wales regional hospitality and tourism firms

The purpose of this study is to deepen emerging knowledge concerning the experiences of hospitality and tourism businesses operating in a regional setting in dealing with the uncertain environment caused by the COVID-19 crisis. Considering the conceptual pillars of entrepreneurial action, the study proposes a theoretical framework that extends the understanding of this unsettling and fluidly emerging phenomenon from a firm perspective. On-site, face-to-face interviews with ten owners and managers in regional New South Wales, Australia, contributed to the development of four different conceptual dimensions. First, the non-action-driven opportunity dimension underscores unintended positive outcomes from the crisis, while a second, action-driven opportunity illustrates initiatives business owners/managers implement to anticipate, minimise or exploit emerging opportunities. Third, the non-action-driven threat dimension is associated with negative outcomes from the crisis, and the last, strategy-driven opportunity, suggests changes, for instance, in firms? business model with the goal of creating future opportunities.

COVID-19, aftermath, impacts, and hospitality firms: An international perspective.

Drawing on the theory of resilience, and on an international sample of 45 predominantly small hospitality businesses, this exploratory study extends knowledge about the key concerns, ways of coping, and the changes and adjustments undertaken by these firms' owners and managers during the COVID-19 outbreak. The various emergent relationships between the findings and the considered conceptual underpinnings of the literature on resilience, revealed nine theoretical dimensions. These dimensions critically illuminate and extend understanding concerning the actions and alternatives owners-managers resorted to when confronted with an extreme context. For instance, with financial impacts and uncertainty being predominant issues among participants, over one-third indicated actioning alternative measures to create much-needed revenue streams, and preparing for a new post-COVID-19 operational regime, respectively. Furthermore, 60 percent recognised making changes to the day-to-day running of the business to respond to initial impacts, or biding time in anticipation of a changing business and legal environment.