title: Аdaptation of business practices to the COVID-19 pandemic: Evidence from micro and small enterprises
metadata.name: dc.contributor.author
metadata.value: Golovacheva, K. S.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Rutchyeva, A. S.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Smirnova, M. M.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2024-03-01T13:53:20Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2024-03-01T13:53:20Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2023-09
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Golovacheva K. S., Rutchyeva A. S., Smirnova M. M. 2023. Аdaptation of business practices to the COVID-19 pandemic: Evidence from micro and small enterprises. Russian Management Journal 21 (3): 285–306. https://doi.org/10.21638/spbu18.2023.301
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu18.2023.301
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/44997
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: Goal: to determine how three business model adaptation (BMA) strategies (namely, product
  development, market development, and diversification) influence firm profitability through the
  mediating mechanisms of customer behavioral loyalty and acquisition during the
  COVID-19 pandemic. Methodology: the study is based on a telephone survey of 210 Russian
  micro and small enterprises conducted in the beginning of 2022. Structural equation modeling
  is used to test the relationships between three BMA strategies, customer behavioral loyalty,
  customer acquisition, and firm profitability. Findings: three BMA strategies positively influence
  customer acquisition but have no effects on customer behavioral loyalty. In turn, customer
  behavioral loyalty and acquisition unequally contribute to firm profitability. Diversification
  strategy is found to be the only strategy that positively influences firm profitability during the
  crisis. This effect is mediated neither by customer loyalty nor customer acquisition but is
  supposedly achieved through the strategic choice of higher-margin destination markets.
  Originality and contribution of the authors: the study contributes to the literature on crisis
  management by examining the effects of product development, market development, and
  diversification strategies on firm performance in the crisis environment characterized by
  shrinking demand and increasing turbulence. Unlike most existing studies, the current study
  goes beyond testing the overall effect of BMA on firm financial performance in times of crises
  and uncovers customer retention and acquisition mechanisms that mediate this effect, thus
  reuniting strategic management and marketing areas.
metadata.lang: en_GB
metadata.name: dc.description.sponsorship
metadata.value: This research has been conducted with financial support from the Russian Science Foundation grant
  (project no. 21-78-10024, http://rscf.ru/project/21-78-10024).
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: en
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Russian Management Journal;Volume 21; Issue 3
metadata.lang: -
metadata.name: dc.subject
metadata.value: business model adaptation
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: COVID-19 pandemic
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: customer behavioral loyalty
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: customer acquisition
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: firm profitability
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Аdaptation of business practices to the COVID-19 pandemic: Evidence from micro and small enterprises
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 01.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/44997/1/01.pdf
resources.format: Adobe PDF
resources.size: 990,75 kB