Exploring key factors sustaining micro and small food, wine, and hospitality firms through the COVID-19 crisis

O'Brien, Seamus ORCID logoORCID: https://orcid.org/0000-0001-8221-0340 (2022) Exploring key factors sustaining micro and small food, wine, and hospitality firms through the COVID-19 crisis. BRITISH FOOD jOURNAL, 1 (1). ISSN 0007-070X

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Abstract / Summary

Abstract Purpose – The purpose of this study is to contribute to the understanding of how micro and small firm owners/managers cope with an extreme event, as this has implications on how firms make decisions. The study considers self-efficacy and stakeholder theory as tools to gain more in-depth knowledge. Design/methodology/approach – The perspectives of owners/managers of 308 micro and small firms operating in the food, wine and hospitality industries in Italy, one of the most affected nations, were drawn through an online questionnaire. Findings – The importance of determination, passion, family support and a sense of responsibility towards internal and external stakeholders emerged as fundamental factors helping firms confront the crisis. Five theoretical dimensions that help explain how firm owners/managers make decisions to safeguard their firms during the COVID-19 crisis are identified. Three of these, “motivational”, “stepping up” and “firm-based”, are directly associated with tenets of self-efficacy theory, and two, “human-moral” and “entity-based”, with stakeholder theory. Further complementing this second contribution, a theoretical framework underlining conceptual and practical implications is proposed. Originality/value – The study delves into the challenges and survival of a key group of firms facing an extreme crisis. The identified dimensions provide useful conceptual depth and practical insights that, together, form part of a proposed framework. For instance, the “human-moral” dimension reflects upon aspects that have wider implications, notably, for firms’ employees and the wider society.

Item Type: Article
Identification Number: https://doi.org/10.1108/BFJ-02-2022-0148
Uncontrolled Keywords: COVID-19; Micro and small firms; self-efficacy; stakeholder theory; firm survival; factors;
ISSN: 0007-070X
Subjects: Business
Courses by Department: Business School > Business Entrepreneurship
Depositing User: Seamus O'Brien
Date Deposited: 07 Jul 2022 09:28
Last Modified: 11 Nov 2022 16:19
URI: https://repository.falmouth.ac.uk/id/eprint/4611

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