Published : 2021-07-28

Impact of COVID-19 Pandemic on Changes in Business Models of Small and Medium-Sized Enterprises in Poland

Section: Thematic Articles

Abstract

RESEARCH OBJECTIVE: The purpose of this paper is to identify the direction of change in the business models of SME enterprises in the wake of the COVID-19 pandemic.

THE RESEARCH PROBLEM AND METHODS: The research problem is the analysis of changes in business models of SME enterprises in Poland in connection with the COVID-19 pandemic. The research concept applied in the article was based on literature studies on the essence of business models and the impact of crises on their shape; qualitative research, using the Case study method, and allowing to diagnose changes in the elements of business models made in connection with the COVID-19 pandemic.

THE PROCESS of ARGUMENTATION: The first part of the discussion presents the essence of the business model and the elements structuring it according to different concepts. Then the results of the research on changes in the elements of business models according to the Business Model Canvas structure were presented. The results made it possible to determine the ways of responding to the crisis caused by the COVID-19 pandemic and to assess the adaptive flexibility of the studied enterprises.

RESEARCH RESULTS: Changes in elements of the business models of the enterprises under study were of both quantitative and qualitative nature. The amount and depth of changes largely depended on the sector in which the company operated. Most changes were made in the following elements: customer segments, revenue structure, enterprise partners. Modifications of business model areas were selective.

CONCLUSIONS, INNOVATIONS, AND RECOMMENDATIONS: Enterprises from the SME sector, not operating on a scale comparable to large enterprises, introduced some changes in their business models not as a result of a long-term strategy but in response to a current need. The introduced changes were often not coherent, which is a necessary condition for obtaining synergy effect between particular elements.

Keywords

business model ; SMEs ; COVID-19 pandemic



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