Effective business model adaptations in family SMEs in response to the COVID-19 crisis
Journal of Family Business Management
; : 17, 2022.
Article
in English
| Web of Science | ID: covidwho-1915917
ABSTRACT
Purpose The present paper aims at exploring effective business model adaptations in response to unexpected events such as the COVID-19 pandemic. Design/methodology/approach The authors test the effect of two major business model adaptations, namely changes in the value proposition and changes in the target market, on a sample of 96 family SMEs. Findings Results show that only changes in the value proposition had a positive and significant impact on performance, helping family SMEs to better confront COVID-19. However, this effect is reduced in the case of target market change. Originality/value To the best of the authors' knowledge, this is the first study to investigate how business model adaptations in family SMEs affect performance in crisis situations.
Full text:
Available
Collection:
Databases of international organizations
Database:
Web of Science
Type of study:
Experimental Studies
Language:
English
Journal:
Journal of Family Business Management
Year:
2022
Document Type:
Article
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