Search Results (592)

The restrictions on business and social activity during the COVID-19 pandemic have led to significant changes in consumption patterns worldwide. Such changes are causing structural shifts in the markets of goods and services, thus affecting regional resilience. In this article, we aim to assess the changing structure of the consumption of goods and services in highly urbanized Russian regions under the impact of the COVID-19 pandemic and to analyze its effects on the lifestyle of the population. According to our results, some Russian regions demonstrate a return to previous consumption levels, while others exhibit the emergence of new dynamics. The conclusion is made that COVID restrictions have invoked a paradigm shift in consumer behavior toward investment in self-development, safety, and comfort. This observation should be taken into account when developing strategies for the recovery growth of regional economies. Full article

The COVID-19 pandemic fundamentally disrupted assumptions about entrepreneurship, career planning, and professional development. This study explored how the pandemic influenced the entrepreneurial intentions of undergraduate business students in the United States. Using a qualitative methodology based on in-depth interviews with 31 students at a public Midwestern university, the research interpreted student narratives through the lenses of effectuation theory, resilience theory, and the theory of planned behavior. Findings revealed that many participants reframed entrepreneurship as a strategy for navigating economic uncertainty and enhancing personal agency. Students reported valuing adaptability, resourcefulness, and opportunity recognition, often experimenting with side hustles during the pandemic as a means of resilience. Their entrepreneurial thinking shifted from purely economic motivations toward aspirations for flexibility, self-fulfillment, and purposeful work. The study highlights the formative role of crisis contexts in shaping entrepreneurial identity among emerging professionals. It suggests that entrepreneurship education should move beyond traditional models, fostering skills for navigating complexity and building resilience. In doing so, the findings contribute to broader conversations about youth entrepreneurship, post-pandemic career development, and the evolving demands of the labor market in times of disruption. Full article

Enterprise architecture (EA) provides a strategic foundation for aligning business processes, IT infrastructure, and organizational strategy, enabling firms to navigate uncertainty and complexity. In developing economies, small and medium-sized enterprises (SMEs) face significant challenges in maintaining financial resilience and sustainable growth amidst frequent disruptions. This study investigates how EA-driven change events affect SME financial performance by activating three key adaptive mechanisms: improvisational capability, flexible IT systems, and organizational culture. A novel classification of EA change triggers is proposed to guide adaptive responses. Using survey data from 291 Pakistani SMEs collected during the COVID-19 crisis, the study employs structural equation modeling (SEM) to validate the conceptual model. The results indicate that improvisational capability and flexible IT systems significantly enhance financial performance, while the mediating role of organizational culture is statistically insignificant. This study contributes to EA and sustainability literature by integrating a typology of EA triggers with adaptive capabilities theory and testing their effects in a real-world crisis context. Full article

As many companies adopted hybrid work arrangements during and after the COVID-19 outbreak, interest in Metaverse applications for virtual offices grew considerably. Along with this growing interest, the risk of data breaches has also increased, as virtual offices often handle confidential documents for businesses. For this reason, existing studies have explored Metaverse user authentication methods; however, their methods suffer from several limitations, such as the need for additional sensors and one-time authentication. Therefore, this paper proposes a novel behavioral authentication framework for secure Metaverse workspaces. The proposed framework adopts keyboard typing behavior that is common in the office and does not cause fatigue to users as an authentication factor to afford active and continuous user authentication. Based on our evaluation, the user identification accuracy achieved an average of approximately 95% among 11 of 15 participants, with the highest-performing user reaching an accuracy of 99.77%. In addition, the proposed framework achieved an average false acceptance rate of 0.41% and a false rejection rate of 4.02%. It was also evaluated with existing studies using requirements for user authentication in the Metaverse to demonstrate its strengths. Therefore, this framework can fully ensure a secure Metaverse office by preventing unauthenticated users. Full article

Agritourism has grown significantly worldwide in recent years, even during the COVID-19 pandemic when faced with various challenges. To understand the reasons behind the rapid growth and be better prepared for future crises, this study interviewed 22 agritourism businesses in Texas (USA) regarding the influence of the pandemic and their adaptation strategies. Results indicated that COVID accentuated the entrepreneurial self-efficacy of agritourism business owners, which is key to their growth during the pandemic while highlighting the resource-dependent nature of agritourism businesses. Despite lacking governmental policy support at all levels, agritourism businesses thrived during the pandemic through their creative adaptations. This study provides valuable implications for sustainable agritourism development. Full article

Telework has become a crucial element of the modern business landscape, driven by transformations sparked by multiple global crises. The transition from traditional, in-office work to telework, sometimes mandated by revolutionary circumstances (such as the COVID-19 pandemic), has highlighted both the advantages and challenges associated with this mode of work organization. In this context, the present study examines the effects of telework as experienced by employees and managers during two key periods: the COVID-19 pandemic and the introduction of chatbots. Through 24 interviews conducted and analyzed across these two timeframes (2021 and 2024) using NVivo 14 Windows software, the data were organized and interpreted within the framework of the Job Demands–Resources (JD-R) model. The main findings focus on organizational communication, sustainability, and work efficiency, while also highlighting associated benefits and drawbacks. The results demonstrate the importance of adapting organizational resources to meet growing job demands in order to maintain desired levels of efficiency and effectiveness while avoiding burnout, productivity declines, or other negative outcomes in the context of telework. This research contributes to understanding the evolution of telework by offering practical insights for sustaining high levels of motivation and workforce engagement in achieving organizational objectives in the hybrid work era. This paper emphasizes the significance of the JD-R Model in analyzing dynamic work environments, providing relevant perspectives for organizations on the continuously evolving dimensions of job demands, job resources, and outcomes. Full article

In the globalized economic system, environmental, social, and governance (ESG) factors have emerged as critical dimensions for assessing non-financial performance and ensuring the long-term sustainable development of businesses, influencing corporate behavior, investor expectations, and regulatory landscapes. This article applies the VAR-DY network analysis method to construct a large-scale financial volatility spillover network covering all Chinese stocks. It explores the risk transmission paths among different ESG-rated groups and analyzes the patterns and impacts of risk transmission during extreme market volatility. The study finds that as ESG ratings decrease from AAA to C, the network’s average shortest path length and average connectedness strength decreases, indicating that highly rated companies play a central role in the network and maintain their ESG ratings through close connections, positively affecting market stability. However, analyses of the 2015 Chinese stock market crash and the COVID-19 pandemic show a general increase in volatility spillover effects. Notably, the direction of risk spillover in relation to ESG ratings was opposite in these two events, reflecting differences in the underlying drivers of market volatility. This suggests that under extreme market conditions, traditional risk management tools need to be optimized by incorporating ESG factors to better address risk contagion. Full article

Mobile payment systems have rapidly expanded globally, especially in developing countries like Thailand, Malaysia, and Indonesia. Technological advances, public acceptance, and increased adoption during the COVID-19 pandemic drive this growth. Mobile payments involve key stakeholders: technology providers, end-users, government regulators, and merchants, each contributing to the adoption ecosystem. Users prefer mobile payments for their speed and convenience over traditional cash transactions. This study explores the driver and barrier factors influencing mobile payment QR adoption among merchants, particularly from the MSME perspective, using existing frameworks based on previous research adapted to MSME conditions. Conducted in Indonesia with 418 MSME business respondents, this study employs a quantitative, cross-sectional methodology with a 95% confidence level and an SEM analysis. The findings reveal that perceived ease of use does not significantly impact perceived experience, while perceived usefulness does. Perceived risk, convenience, experience, and word-of-mouth learning statistically significantly influence merchants’ intention to use mobile payments. However, customer engagement, cost, trust, and complexity appear less influential. Overall, this research advances understanding of the key factors affecting merchants’ adoption of mobile payment and provides insights relevant to MSME economic growth. Full article

During the COVID-19 pandemic, lockdown and working from home (WFH) were two significant non-pharmaceutical interventions (NPIs) deployed to stop the spread of the virus and also maintain economic activity. Lockdown caused significant socio-economic disruptions and varied in efficacy by location, even while it helped slow the spread of the virus and provided medical personnel with more time to respond to the crisis. WFH, however, was introduced to mitigate business collapse, and it presented crucial benefits such as flexibility and reduced commuting. However, it also presented major challenges, including work–life conflicts, productivity concerns, and mental health issues. By examining the short- and long-term effects of these NPIs on various sectors and demographics, this study assesses their efficacy in crisis management, and our results show that although WFH and lockdowns were essential for crisis management, their effectiveness varied depending on sectoral differences, timing, and implementation tactics. Furthermore, the ongoing shift towards hybrid work underscores the need for adaptive policies that balance productivity, mental well-being, and economic sustainability. Moreover, future research should focus on exploring the long-term implications of WFH and hybrid work models in order to ensure better preparedness for future crises and refine existing NPIs for more effective crisis management. Full article

This paper examines the characteristics of banks and their lending behavior in relation to Paycheck Protection Program (PPP) loans and commercial and industrial (C&I) loans to small businesses during the COVID-19 pandemic. Our findings show that lenders facing greater risk tended to lend more PPP loans, consistent with the risk-aversion theory. Specifically, banks with a higher loan–deposit ratio, lower overall profitability, poorer loan quality, and higher exposure to risks in business (C&I) loans are characterized by higher PPP loans. C&I loans to all businesses are negatively related to the loan–deposit ratio and loan loss allowance ratio, but are positively linked with the capital ratio. However, we find important differences in C&I lending to small businesses versus large businesses. Furthermore, there is evidence regarding the success of targeting PPP loans towards more productive sectors of the US economy. Using FDIC-defined banks’ lending specializations, we show that banks focused on international lending had a limited role in PPP lending. Full article

The COVID-19 pandemic presented an unprecedented challenge for the tourism industry, disrupting operations, reducing customer demand, and forcing businesses to adapt quickly to a new reality. This study explored the impact of COVID-19 on the tourism and hospitality industry and addresses a specific research gap: the limited application of structured theoretical frameworks—particularly the three-R stakeholder collaboration model—in examining recovery strategies. Prior studies have largely focused on individual tactics or short-term impacts, rather than a structured, stakeholder-driven, multi-phase recovery process. Employing a qualitative research design, this study used grounded theory to investigate how tourism service providers and key stakeholders navigated the challenges of the pandemic. Data were collected through semi-structured interviews with 20 participants, including tourism business owners, hotel and event managers, public sector employees, and academics. These insights offer a comprehensive, multi-perspective view of how the industry navigated the pandemic. Grounded theory was used to inductively develop a model of recovery behaviors, with data coded through open, axial, and selective stages using MAXQDA 2020 software. Findings revealed several key strategies—such as cost-cutting, digital transformation, and cultural adaptation—that enabled businesses to maintain operations during the pandemic and recover in its aftermath. Finally, refashioning business models through digital transformation, the diversification of services, and a shift to local markets helped tourism providers adapt to the changing environment and ensure long-term resilience. Full article

North Sumatra has abundant natural resources and potential as a tourist destination for the wider community. The COVID-19 pandemic has significantly impacted natural tourism, including in North Sumatra, where several tourist attractions have closed their businesses. This study aims to formulate policy priorities for the impact control and restoration of natural tourism sites in North Sumatra. We analyzed the decline in visitors during the COVID-19 pandemic, the impact of the pandemic on the number of visitors, the types of tourist attraction facilities that suffered the most damage, the influence of facility type on the decline in tourist visits, and the aspects of tourism that decreased the most and should be prioritized for improvement. A descriptive statistical analysis, difference tests, and multiple linear regression analyses were used. We found factors that influenced visitor changes before and during the pandemic, as well as afterwards. Our results show that an important development priority is to control the impact of the COVID-19 pandemic on the decline in tourist attractions. We also propose important recommendations for priority policies aimed at the restoration of facilities in the post-COVID-19 development of natural tourism in North Sumatra. Full article

The main aim of this article is to evaluate how well sustainable HRM practices support organizational sustainability and staff resilience during crises. This paper examines how responses to COVID-19 and geopolitical concerns have affected the HRM practices of Lithuanian logistics enterprises. This study employed a qualitative research approach, conducting semi-structured interviews with twelve HR managers from prominent logistics companies in Lithuania. The participants selected guaranteed industry-relevant insights due to their experience with HRM crisis management. Using Braun and Clarke’s approach, data were thematically analyzed to find notable HRM projects supporting workforce sustainability under crisis conditions. The findings identify three key HRM methods required for crisis resilience: strategic workforce flexibility, employee well-being and resource conservation, and long-term organizational resilience. The findings show that organizations that implemented flexible work rules, mental health support programs, and digital HRM solutions had higher employee retention and operational continuity. This study also incorporates the resource-based view (RBV) and conservation of resources (COR) theories, underlining the need for sustainable human resource management techniques as both a competitive economic resource and a psychological buffer for employees in crisis situations. This study makes actionable HRM recommendations to help firms establish organized crisis response HRM frameworks, with a focus on flexible workforce management, mental health interventions, and proactive digitization tactics. These results can be used by policymakers and business leaders to institutionalize HRM crisis-ready strategies, thus enhancing labor market stability in challenging environments. This paper contributes to the body of knowledge on HRM crisis management by suggesting a disciplined HRM crisis response model combining actual data from the logistics industry with theoretical points of view. This paper provides a useful road map for HR managers wishing to create strong staff management strategies in difficult times. Full article

This study analyzes the effect of knowledge managemet capability on entrepreneurial orientation, entrepreneurial finance, entrepreneurial marketing, and business resilience in culinary micro-enterprises in Bandung during the COVID-19 pandemic, proposing that knowledge management capability influences entrepreneurial orientation, entrepreneurial finance, and entrepreneurial marketing, which in turn enhance business resilience. Partial least squares structural equation modeling was used to analyze data from 125 culinary micro-enterprises. The findings show that entrepreneurial finance has a stronger effect on business resilience compared to other factors, indicating that financial agility and resource allocation are more important for business resilience in crisis conditions. This challenges the conventional view that innovation is the main driver of business resilience. This study redefines the strategic entrepreneurship model by highlighting the role of knowledge management capability as a key resource input in the resource orchestration process to build business resilience. The results offer practical insights, including policy recommendations for improving digital infrastructure and financial inclusion to support culinary micro-enterprises in adapting to future disruptions. Full article

The COVID-19 pandemic devastated businesses globally, leading to significant economic and social challenges. Micro, Small and Medium Enterprises (MSMEs) are particularly vulnerable to environmental turbulence, while their survival and resilience are critical to the national economic recovery of countries globally. This study adopted a qualitative approach to examine the strategic responses adopted by MSMEs and the impact of the strategies on survival and resilience during the COVID-19 pandemic period. The sample size comprises ten (10) MSMEs and data collection using a semi-structured interview schedule. The key findings indicate that the MSMEs adopted cost reduction and diversification strategies to mitigate the impact of the abrupt COVID-19 lockdowns and the subsequent financial and cashflow problems, threats to business continuity and survival. The study conclusions indicate that adopting a combination of cost reduction and diversification strategies improved the business continuity and survival of MSMEs during the COVID-19 pandemic. The study recommendations include the need for government and stakeholders to enhance the capacity and competence of MSMEs in strategic and operational planning, investing in technology, innovation, creativity, training and development of strategic agility and fostering adaptive organisational cultures that enhance flexibility, resilience and survival when faced with economic and business environment disruptions in future. Full article