What is Business Coping Strategy

The recession due to COVID- 19 causes uncertainties in the industry's immediate operating landscape as well as other unprecedented impacts. Due to the immense magnitude of impacts posed by recessionary events, this present study proposes the significance of understanding the phenomena while examining the subject of crisis readiness of SMEs during COVID-19 era. The main objective of the study is to examine the impact of business coping strategy and entrepreneurial orientation on the crisis readiness of Pakistani-based SMEs. The study emphasized the necessity of delineating the effects of extremely disastrous and unforeseen events. This is because the understanding of the effects of such cataclysmic event is more important than the prediction of the event's occurrence. The study has employed a Suraya-based method, and data is collected with the aid of a questionnaire. The response rate was 78%, which qualifies the minimum response rate criteria. The SEM-PLS is used to analyse the data. The results of the study have provided support to hypothesized results.