Social Capital and Stakeholders’ Contribution to Business Survival During COVID-19: A Case Study

Charoline Cheisviyanny (), Sany Dwita, Herlina Helmy, Joan Marta, Amran Rasli and Aimatul Yumna
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Charoline Cheisviyanny: Universitas Negeri Padang
Sany Dwita: Universitas Negeri Padang
Herlina Helmy: Universitas Negeri Padang
Joan Marta: Universitas Negeri Padang
Amran Rasli: INTI International University
Aimatul Yumna: Universitas Negeri Padang

A chapter in New Challenges of the Global Economy for Business Management, 2025, pp 927-941 from Springer

Abstract: Abstract The COVID-19 pandemic had a tremendous impact on the economic sector causing many businesses to close and some struggling to survive. One that survived is XYZ Co., a food-based Small and Medium Enterprise (SME) in Padang, West Sumatra, Indonesia. Previous studies conducted at XYZ Co. show that the owner has high social capital that helped the company survive. This prompted the researchers to conduct further research to analyze how social capital can increase stakeholder contributions and help the company survive in times of crisis. The researchers applied the case study approach by conducting semi-structured interviews with the owner and stakeholders, as well as observations on their business practices and documentation analysis based on their tax returns and financial reports. The stakeholders include government, employees, business partners, customers/retailers, and community. The collected data was thematically analyzed by using several stages: data reduction, data presentation, and drawing conclusions. The results showed that the company has excellent social capital, namely norms, trust, and good networking. The strong social capital helps to maintain the company's relationship with its stakeholders and improves stakeholders’ contribution to business survival. The further studies can explore other companies or compare between Chinese-Indonesian and non-Chinese-Indonesian companies. This research can be used as a pilot project for other companies to improve their social capital and stakeholders’ awareness.

Keywords: Social capital; Stakeholders; Business survival (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/978-981-96-4116-1_59

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