Crisis management for SMEs: insights from a multiple-case study Online publication date: Thu, 31-Jul-2014
by Paul Hong; Chenglei Huang; Bo Li
International Journal of Business Excellence (IJBEX), Vol. 5, No. 5, 2012
Abstract: Research in crisis management involves a variety of perspectives, including crisis impacts, strategic vision and leadership, contingency planning and technical capabilities. However, crisis management mechanisms of small and medium enterprise (SMEs) were rarely investigated for sound theory building and practical guidance for management. The aim of this paper is to explore mechanisms by which SMEs use to manage crisis. This paper presents a general crisis management model that represents crisis management processes in terms of detection, occurrence, recovery and resolution. To validate and refine this model, a multiple-case study is designed to investigate five SMEs' actual crisis management practices. The case study results show that SMEs, in spite of their resources constraints and relatively weak market positions, display resilient market responsiveness. This paper further suggests that effective crisis management of SMEs involve proactive business mindsets for sustainable growth and continuous expansions.
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