ABSTRACT
This study investigates the validity of exploitation and exploration when small- and medium-sized enterprises (SMEs) navigate a highly uncertain time. Although balancing the two strategies has been thought to lead to improved firm performance in general, a combined approach appears to be problematic for SMEs due to a lack of feasibility. We theorise that the effectiveness may vary depending on a fit between the strategies and the environmental contingencies. In doing so, we considered two potential environmental contingencies of a crisis for SMEs: loss of demand and loss of supply. To put our theory to the test, we gathered 224 responses from business leaders and key individuals from Korean start-ups and tested the effectiveness of crisis management strategies. Our findings support the validity of both exploitation and exploration when firms face a loss of demand, but not a loss of supply. It implies that the effectiveness of exploration and exploitation is contingent upon a specific form of crisis experienced at the firm level. © KOSIME, ASIALICS, STEPI 2023.
ABSTRACT
We assessed infection control efforts by comparing data collected over 20 weeks during a pandemic under a dual-track healthcare system. A decline in non-COVID-19 patients visiting the emergency department by 37.6% (P<0.01) was observed since admitting COVID-19 cases. However, patients with acute myocardial infarction (AMI), stroke, severe trauma and acute appendicitis presenting for emergency care did not decrease. Door-to-balloon time (34.3 (± 11.3) min vs 22.7 (± 8.3) min) for AMI improved significantly (P<0.01) while door-to-needle time (55.7 (± 23.9) min vs 54.0 (± 18.0) min) in stroke management remained steady (P=0.80). Simultaneously, time-sensitive care involving other clinical services, including patients requiring chemotherapy, radiation therapy and haemodialysis did not change.