Drawing on a mixture of theory, cases, and interviews, Startups and Crisis Management provides a valuable overview of how new ventures fared in the wake of the COVID-19 pandemic. It then considers the wider lessons for startups operating in times of crisis and adjusting to the ‘new normal’.
The macroeconomic shocks of rising unemployment, lockdowns, and remote working have impacted the entrepreneurial ecosystem and raised questions about how startups can survive, adjust, and thrive once more. This book analyses the reciprocal relationship between startups and their ecosystems, using theoretical lenses such as push and pull factors, necessity entrepreneurship, networking, and embeddedness. Each chapter contains case studies based on interviews with individuals from startups around the world, exploring how real-life firms reacted to the coronavirus crisis.
This illuminating text will be a useful resource for modules exploring startups during times of crisis, and courses on entrepreneurship and crisis management more broadly.
Author(s): Dafna Kariv
Publisher: Routledge
Year: 2022
Language: English
Pages: 294
City: London
Cover
Half Title
Title Page
Copyright Page
Table of Contents
Acknowledgements
An inspirational foreword
1 Paving the way for the ‘new normal’: an introduction to the field
Takeaways
Overview
Reciprocal relationships
Theoretical glimpse
Looking at the emerging ‘new normal’
What does the ‘new normal’ entail?
The impetus—COVID-19: an unexpected ‘occurrence’ in a highly technological era
The methodology
Summary
Reflective questions for class
2 Startup dynamics
Takeaways
Startup dynamics
Demarcation of a startup
Startup distinctiveness
The external perspective
Startups and the context
Context and crises
Ecosystems
Ecosystems and crises
The internal perspective
Organizational view
Management aspects
A process view—opportunities and inhibitors
Portrayal of startups
Inherent disruptors
Summary
Reflective questions for class
3 Types of crises
Takeaways
Introduction
Crisis portfolio
Demarcating crises
Indicators of disruptive events
Crisis dimensions
Crisis core topic
How does the event topic affect the startup?
Sequential crisis events
Generation of ‘other indicators’
COVID-19 and the new wave of crises
Summary
Reflective questions for class
4 Born into crises
Takeaways
Born into crises
Conceptual models of startups under crises
The role of perception
Startups’ views of crises
Chronicle of a crisis foretold
A closer look at crises: the when, why, and what
Crisis life cycles and characteristics
The distinctiveness of the COVID-19 pandemic crisis
Startups create crises
Abilities and skills—enablers or inhibitors in deciphering crises?
Leadership styles in depicting crises
Summary
Reflective questions for class
5 External effects of crises
Takeaways
Introduction
The outward impact of crises
Main external concerns
Effects across sectors
A glimpse into COVID-19
Tourism—a unique case
External systems affect ecosystems
Stakeholders’ feedback—a fertile ground for crisis management
A chaos perspective
Summary
Reflective questions for class
6 Effects of crises on startups—a micro-perspective
Takeaways
Micro-perspective—an inward look
Process/business innovation
The ‘new normal’ in the business
Being prepared for the ‘new normal’
Making the exception routine
The digitalized entrepreneur
Summary
Reflective questions for class
7 Strategy, preparation, and design
Takeaways
Introduction
Startups design the action in the face of crises
Startup management’s assessment of the situation
Cognitive heuristics
Heuristics and biases
Designing the strategy
The focus of preparation
Decision-making in times of crisis
Crisis preparedness
Designing the required capabilities
Summary
Reflective questions for class
8 Managing crises
Takeaways
Introduction
Fight or flight?
The effective crisis management plan
The concept of change
Reframing the concept of acute
Implementing the crisis management protocol
Shared coping action
Response strategies
The entrepreneur’s dilemma
Coping with crises using innovative strategies
Reviewing business models
Delving into the pillars of business models
Summary
Reflective questions for class
9 Entrepreneurial psychological capital
Takeaways
Psychological distress in times of crises
Effects of the COVID-19 pandemic on emotional stress
Stressors
Emotional representations
Assessment of stressful events
Entrepreneurial psychological capital
Summary
Reflective questions for class
10 Female entrepreneurship in crises
Takeaways
Female entrepreneurship: a general overview of its uniqueness and challenges
What makes female entrepreneurship an exclusive aspect of entrepreneurship?
Business interpretations and perceptions
Female entrepreneurship and crises: identification and exploitation
Entrepreneurial emotions—a gendered look
Emotional intelligence
Strategic orientation from a female entrepreneurship point of view
Women’s psychological capital
Summary
Reflective questions for class
11 Beyond the pandemic: The path to the new normal through case studies
Introduction
Case 1: The pandemic’s role in stimulating startup creation: ASEM
Case 2: A startup that failed due to the crisis: Valeries
Case 3: “Put a ding in the universe” (Steve Jobs): Papaya Global
Case 4: “Against all odds”—A story of resilience, trust, and sustainability: Guesty
Case 5: “A pivot is a change in strategy without a change in vision” (Eric Ries): Bizzabo
Case 6: Ecosystem stakeholders embrace startups: Startup México and Dux Capital
Case 7: Reciprocity is the name of the game: JetztInvest (JI)—the open innovation platform
Case 8: Forging the future: Co-Creation Network Universities (CCNU)
Index
