COVID-19 crisis challenges and responses: evidence from selected Greek SMEs

Pavlos Dimitratos and Panagiotis Kyriakopoulos

Chapter 14 in Small and Medium Sized Enterprises and the COVID-19 Response, 2022, pp 323-345 from Edward Elgar Publishing

Abstract: The COVID-19 crisis is a now a global crisis and a 'grand' strategy is essential for firms to respond to this pandemic crisis. In this study, we investigate how Greek SMEs from different industries responded to the COVID-19 crisis. We found that a retrenchment strategy of inventory and employees associated with liquidation was the most widely strategy used by SMEs during the COVID-19 crisis in Greece arising from either supply chain problems or from management decision to reduce cuts and size as a defensive strategy to survive. However, we identified that COVID-19 influenced several advanced- modes beyond exporting or micro- multinational. Greek SMEs digitally transformed their firms due to their strong networking, learning, and knowledge capabilities. The key challenges addressed by managers and practitioners were related to digital infrastructure scale-up, employment conditions and remote working (from home), cyber security and privacy, IT support, and supply chain management.

Keywords: Business and Management; Economics and Finance; Innovations and Technology (search for similar items in EconPapers)
Date: 2022
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