Erika Mošková, Michal Brutovský, Kristián Furiak, K. Bugánová
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Business interruption management in the context of the COVID-19 pandemic for small and medium-sized enterprises in Slovakia
From the beginning of 2020 to the end of 2021, a nationwide survey was conducted to examine business interruption due to the COVID-19 pandemic and to identify the impact of the pandemic on SMEs in the Slovak Republic. It also focused on identifying areas such as risk management with BCM, and crisis management within individual enterprises. The survey was carried out using a questionnaire distributed to SMEs operating in the country. Based on the questions from the questionnaire, four research hypotheses were developed. Based on the results of our investigation, we found that enterprises cannot correctly assess their capability level and manage risks effectively, potentially exposing themselves to further threats arising from such a relationship. There is a correlation between the business sector and the extent to which an enterprise has been affected by a pandemic. Enterprises with implemented risk management areas had operations halted for shorter periods than enterprises without implementation. There is a relationship between business sectors and the extent to which they were affected by the pandemic. The discussion concludes that the pandemic posed a type of threat for which several SMEs were unprepared. At the same time, no established risk minimization procedures would address this issue. Effective implementation of risk management as prevention or crisis management as response and application of BCM principles is one of how enterprises could prepare for risks and crises and increase their resilience.
期刊介绍:
ENTREPRENEURSHIP AND SUSTAINABILITY ISSUES ISSN 2345-0282 (online) is a peer-reviewed scientific journal, serving as a platform to foster multi/interdisciplinary innovations that bring together the research communities and the end-users being affected. It is where theory meets practice, evident in the authors being experts across the industrial value chain – including business visionaries, regulatory and standards bodies, and especially pan-European networking through public and private sector partnerships (PPPs). Accepted papers present outcomes of initiatives and findings across all fields of science and technology, especially social sciences and humanities. Multi/interdisciplinary approach is encouraged. Recent additions to the already well-accomplished editorial board includes experts from the energy and information and communication technologies (ICT) sectors, particularly focused on advances to the state of the arts in environmental sustainability developments. This journal publishes original research papers that are rich with case studies of modern demonstrations, presenting innovative solutions to socio-economic and socio-technical problems that plague modern societies. It is a journal that is positioned as collaborative platform where theory meets practice, which is accomplished by publishing authors who’ve uncovered new linkages between data formulation and the underpinning theories, cases, observations, and validated hypotheses arising from the analysis of that data. ESI journal scope includes as well a particular focus on the business development side of smart electricity grids regarding financial or innovative technological aspects surrounding: renewable production, energy storage and management, construction materials, retrofitting, urban planning, and the trading of actors within emerging markets affected by energy supply and demand tradeoff.