INNOVATION IN THE BUSINESS MODEL: a study in small business facing the COVID-19 pandemic
Keywords:
InnovationAbstract
Objective: This article aims to understand how small businesses can innovate in their business model in the face of the COVID-19 pandemic.
Design/Method/Approach: A multiple case study was developed with four business in the service sector. The sources of evidence were semi-structured interviews and documentary research. A pilot case was carried out to refine the research. The cases were analyzed using the technique of qualitative content analysis.
Originality/Relevance: The article advances the understanding of the role of crises in business model innovation and the characteristics of business models in small business.
Key Results/Findings: The agile introduction of incremental innovations in the business model of small businesses proved vital for the survival of these companies during the COVID-19 pandemic. Innovations include the introduction of new products, new market segments, and the expansion of sales through delivery.
Theoretical and Methodological Implications: By covering an extreme crisis, the research can enable the expansion of studies and actions aimed at smaller crises. From a methodological perspective, operationalizing innovations from the perspective of the company itself and the market can help researchers conduct research that is more in line with the reality of small businesses.
Contributions to Society and Organizations: The research helps to understand how managers deal with difficult times to maintain the permanence of their companies and exposes the importance of policies public for these businesses.
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