Coping strategies of micro and small enterprises during the COVID-19 pandemic

Micro and Small Enterprises (MSEs) have experienced tremendous problems and trials due to the impact of the COVID-19 pandemic. This study aimed to describe the perceived changes and challenges that MSEs experienced in different business areas, identify the coping strategies that they applied, and de...

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Bibliographic Details
Main Author: Siwa, Jose Antonio M. (Author)
Other Authors: Chua, Consuelo T. (thesis adviser.)
Resource Type: Thesis
Language:English
Subjects:
Description
Summary:Micro and Small Enterprises (MSEs) have experienced tremendous problems and trials due to the impact of the COVID-19 pandemic. This study aimed to describe the perceived changes and challenges that MSEs experienced in different business areas, identify the coping strategies that they applied, and describe family contributions, characteristics, and values that helped them survive during the pandemic. Ten purposely selected MSE owners were interviewed for the study. Results showed several emergent themes of challenges and changes that the MSEs experienced. There were four themes under financial performance including decrease in sales, difficulty of selling out inventory, prioritizing the needs of employees, and higher costs. Five themes emerged under operations management - shift to heavy reliance on technology to operate the business, difficulty in acquiring supplies, shift in types of products sold, transportation limitations, and transitioning to home based operations. The themes found under human resource management include variations in number of employees and layoffs, prioritizing the needs of employees, and practice of health and safety protocols. In terms of marketing, five themes emerged - increase in competitors, changes in the types of promotion used, and cancellation of marketing events. Emergent themes of coping strategies were also identified including adapting a more effective marketing mix, increasing the efficiency of manpower, shift to a more aggressive marketing strategy, use of technology for business operations, health prioritization in the time of pandemic, spirituality, and positive mindset. Results also showed the varied contributions of family members to help the MSEs cope with the challenges. These include emotional support, human resource contribution, material and financial assistance, and assistance with family-related tasks. Finally, there were family characteristics and values that helped the MSEs survive the challenges of the pandemic such as patience, perseverance and hardwork, strong family bonds, resourcefulness, and compassion. Recommendations for future studies and for MSE owners and their families are provided at the end of the paper.
Physical Description:ix, 91 leaves 28 cm
Bibliography:Bibliography : pages 78-84.
Access:Thesis Classification: F