The Impact of COVID-19: A Major Crisis or Just Another One?

Marcelo Amaral Dionisio (Coppead Business School, Brazil)
Copyright: © 2021 |Pages: 217
EISBN13: 9781668437308|DOI: 10.4018/978-1-7998-7657-1.ch010
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The COVID-19 pandemic has had a devastating and immediate effect on all economies, impacting in the lifestyles and livelihoods of people around the world. There are strong concerns about how the crisis will affect SMEs that represent over 90% of all firms worldwide. In emerging countries, SMEs already operate in challenging contexts characterized by institutional voids and scarce resource environments where entrepreneurs need to continuously develop strategies to survive. The purpose of this study is to examine the role of resources in a single case of a Brazilian SME and its strategies to survive the impact of the COVID-19 crisis. The study applies the resource-based view (RBV) to understand how the type and nature of resources influence the activities pursued by this SME and relate the crisis with their usual challenges. Findings highlight the important role of different key resources in the survival, growth, and sustainability of SMEs, along with the need of institutional conditions to support and foster entrepreneurship.
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