Strategic planning and sustainable innovation during the COVID-19 pandemic: a literature review

Simple item page
dc.contributor.authorWaiganjo, Moses
dc.contributor.authorGodinic, Danijela
dc.contributor.authorObrenovic, Bojan
dc.date.accessioned2023-04-06T08:55:45Z
dc.date.available2023-04-06T08:55:45Z
dc.date.issued2021-12-30
dc.description.abstractThe COVID-19 crisis posed an opportunity for entering new avenues and market segments for large and financially viable enterprises, whilst SMEs lacking resources for such manoeuvre required cost-effective and quick-fix solutions. In this literature review, we reflect on the drivers of sustainable development of SMEs compared to their larger counterparts during major disasters. We have analyzed prior studies drawing from the concept of “sustainability“ during COVID-19, published between 2020-2021, as well as relevant studies from the domains of crisis management, sustainability, enterprise sustainability, digitisation effects on sustainability, sustainable business practices. Each research was screened to check for the content relevance to the subject matter. The paper suggests that radical sustaining innovation in service delivery combined with diversification could be fostered to mitigate risks and ensure SMEs survival in times of economic downturn. The paper adds to the existing body of organizational knowledge on entrepreneurial sustainability deriving from multiple perspectives on the subject. The review provides pragmatic recommendations for SME owners, entrepreneurs, managers and academicians. We find that there are grounds for SMEs to concentrate on innovating in the context of products and services that are considered revenue-generating for same-industry large enterprises, considering this strategy allows SMEs to align their interests and engage in cooperation with competition.en_US
dc.identifier.citationWaiganjo, M., Godinic, D., & Obrenovic, B. (2021). Strategic planning and sustainable innovation during the COVID-19 pandemic: a literature review. International Journal of Innovation and Economic Development, 7(5), 52-59.en_US
dc.identifier.urihttp://ir.nust.na:8080/jspui/handle/10628/982
dc.language.isoenen_US
dc.publisherInovatus Services Ltd.en_US
dc.relation.ispartofseries7;(5)
dc.subjectSMEs sustainabilityen_US
dc.subjectcompany survival during COVID-19 crisisen_US
dc.subjectCOVID-19 pandemicen_US
dc.subjectentrepreneurship during COVID-19en_US
dc.subjectstrategic planningen_US
dc.titleStrategic planning and sustainable innovation during the COVID-19 pandemic: a literature reviewen_US
dc.typeArticleen_US

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Strategic_Planning_and_Sustainable_Innov.pdf
Size:
235.34 KB
Format:
Adobe Portable Document Format
Description:
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download

Collections

Business Management