Global pandemic and business performance: impacts and responses

Omodara, D, Ikhile, D ORCID: https://orcid.org/0000-0002-4343-1674, Ogundana, O ORCID: https://orcid.org/0000-0002-0121-7231 and Akin-Akinyosoye, K, 2020. Global pandemic and business performance: impacts and responses. International Journal of Research in Business and Social Science, 9 (6), pp. 1-11. ISSN 2147-4478

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Abstract

The COVID-19 pandemic is anticipated to continue to the year 2022 and could lead to several business failures if entrepreneurs do not respond adequately. Thus, the purpose of this study is to introduce a framework that captures the impacts and potential responses to the ongoing pandemic. To do that, we conducted telephone interviews with ten entrepreneurs who operate enterprises within Nigeria. Data collected for analysis were transcribed, chronologically arranged, coded, and thematically analyzed using NVivo. Our findings revealed that, during the pandemic, businesses experienced limited opening hours, a decline in their clients' patronage, lower turnover, and employee demotivation. In response, business owners should consider re-strategizing their business activities, maintaining connections with clients, and exploiting available support measures. Our findings have profound theoretical and practical implications. For entrepreneurs and policymakers, they offer insights into the form of challenges confronting businesses during a pandemic. It also provides response activities that entrepreneurs could adopt to mitigate the impact of an epidemic on their enterprises’ performance. For the field of entrepreneurship, it advances the need to integrate public health (health-related issues) into entrepreneurship study and consider its multiple levels of influence on the performance of businesses.

Item Type:	Journal article
Publication Title:	International Journal of Research in Business and Social Science
Creators:	Omodara, D., Ikhile, D., Ogundana, O. and Akin-Akinyosoye, K.
Publisher:	School of Business and Management Sciences, Istanbul Medipol University
Date:	29 October 2020
Volume:	9
Number:	6
ISSN:	2147-4478
Identifiers:	Number Type 10.20525/ijrbs.v9i6.906 DOI 1383242 Other
Rights:	© 2020 by the authors. Licensee SSBFNET, Istanbul, Turkey. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/).
Divisions:	Schools > Nottingham Business School Schools > School of Social Sciences
Record created by:	Linda Sullivan
Date Added:	02 Nov 2020 09:59
Last Modified:	31 May 2021 15:13
URI:	https://irep.ntu.ac.uk/id/eprint/41451

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