About: SME response to major exogenous shocks: The bright and dark sides of business model pivoting

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An Entity of Type : schema:ScholarlyArticle, within Data Space : covidontheweb.inria.fr associated with source document(s)

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type	Academic Article research paper schema:ScholarlyArticle
isDefinedBy	Covid-on-the-Web dataset
title	SME response to major exogenous shocks: The bright and dark sides of business model pivoting
source	PMC
abstract	Within this short commentary, we explore the notion of pivoting; following major exogenous shocks, firms often contemplate business model pivoting where they change product or service offerings to capitalise on emerging opportunities. We assess the potential bright and dark sides of pivoting for new and existing firms in regard to quality of opportunities, fit with current capabilities and potential costs. The extant literature suggests that two forms of opportunities exist, arbitrage and innovation. We discern that post-shock, new firms may be better positioned to pursue arbitrage opportunities, whereas existing firms should target innovation. Existing firms may have more complications when pursuing arbitrage due to resource embeddedness and stakeholder obligations, and have a greater ability to innovate with an established resource base. Conversely, new firms can capitalise on arbitrage due to lack of embeddedness, as arbitrage requires a significant investment in opportunity selection. In addition, we offer suggestions for future research in regard to the current pandemic and more broadly, exogenous shocks.
has issue date	2020-06-27(xsd:dateTime)
bibo:doi	10.1177/0266242620936590
has license	cc-by
sha1sum (hex)	95190a1188211277256d6d820cc9aaba7ba6033f
schema:url	https://doi.org/10.1177/0266242620936590
resource representing a document's title	SME response to major exogenous shocks: The bright and dark sides of business model pivoting
has PubMed Central identifier	PMC7322513
resource representing a document's body	covid:95190a1188211277256d6d820cc9aaba7ba6033f#body_text
is schema:about of	named entity 'SMEs' named entity 'exogenous shock' named entity 'developing economies' named entity 'arbitrage' named entity 'Social entrepreneurship' »more»

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