Coronavirus (Covid-19) and entrepreneurship: cultural, lifestyle and societal changes

Vanessa Ratten

190 citations0/0 files storedJournal of Entrepreneurship in Emerging Economies

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Entrepreneurship Studies and Influences COVID-19 Pandemic Impacts Migration, Ethnicity, and Economy

Abstract

Purpose Coronavirus (Covid-19) is a pandemic that not only has caused significant havoc around the world but also presents some important opportunities for entrepreneurs to be innovative in the marketplace. The purpose of this paper is to detail in more depth how entrepreneurs have been affected by the crisis by focussing on specific types of entrepreneurship in terms of cultural, lifestyle and social change. Design/methodology/approach A review of the existing literature on Covid-19 and crisis management is conducted that highlights the effect of the pandemic on entrepreneurs. This approach enables an integration of the existing research on resilience in terms of how entrepreneurs adapt and pivot their business models in response to change. Thereby enabling a contemporary view about the ways entrepreneurs can contribute to societal well-being in times of huge economic and social upheaval. Findings While entrepreneurs by nature are resilient, the Covid-19 crisis in terms of its magnitude and length has led to specific challenges faced by entrepreneurs in adapting to the new environment. These challenges can be related to the way entrepreneurs respond to uncertainty by being flexible but also through the support of an entrepreneurial ecosystem environment. Originality/value Due to the Covid-19 crisis being an ongoing and recent phenomenon, this paper is amongst the first to focus specifically on how cultural, lifestyle and social attributes of society have changed. Thereby providing advice to current and future entrepreneurs about how to respond to crisis situations and to manage short- and long-term considerations. There is a growing body of research in entrepreneurship that is offering valuable insights by taking a crisis approach. In addition to the practical opportunities touched upon in this paper, there are associated numerous research potentials due to the intersection of crisis management, entrepreneurship and resilience literature.

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References

1973Dilemmas in a general theory of planning 2020The socio-economic implications of the coronavirus pandemic (COVID-19): A review 2020Pandemics, tourism and global change: a rapid assessment of COVID-19 2006Entrepreneurial Action And The Role Of Uncertainty In The Theory Of The Entrepreneur 2020Tourism and COVID-19: Impacts and implications for advancing and resetting industry and research 2005Social entrepreneurship: A critical review of the concept 2017Organizational Response to Adversity: Fusing Crisis Management and Resilience Research Streams 2020The impact of Covid-19 pandemic on corporate social responsibility and marketing philosophy

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