PERSPECTIVE ON FIRMS’ RESPONSES TO ECONOMIC CRISES

This paper analyzes how firms respond to emerging economic crises. A firm’s response to crisis is a mechanism for survival. It normally evolves out of the impact of the crisis, and it is linked to the strategic goals and operational objectives of the firm. Firms normally pursue one or more of three lines of responses to crises; retrenchment, investment and ambidextrous responses. Responses of firms to crisis are far from predictable or systematic and usually vary from firm to firm. They are predetermined by specific contexts of the firm’s existence. These contexts range from the firm’s size, ownership, sector of operation, history in business, country dynamics and resource capabilities. There is also a tendency for firms to move from one type of response to another during the course of the crisis. Retrenchment is the most preferred form of response, although investment responses tend to have long-term advantages. The study recommends that firms consider ambidextrous responses to realize the synchronized benefits of retrenchment and investment responses to crises. It is also recommended that studies on firms’ responses to crisis should examine firms on a case-to-case basis, identify the particularities of their responses

Management Accounting Systems for Small Business\u27s Competitive Advantage

AbstractSmall businesses providing ancillary services to the motion picture industry fail at alarming rates due to leadership\u27s lack of strategies for service diversification and business expansion. Grounded in the contingency theory of management accounting, the purpose of this qualitative multiple case study was to explore management accounting systems (MAS) strategies leaders of ancillary service providers use for business diversification. The data collection included face-to-face semistructured interviews with 10 small business owners who successfully used MAS strategies for business diversification in California. The data analysis entailed using keyword frequency comparisons and coding techniques that facilitated the verification and triangulation of key themes. The emerging themes were procedures to monitor production and business operation, techniques to anticipate business growth and development using service diversity, up-to-date information technology system for diversity, and measures to understand risks and uncertainties in decision-making. Proper planning and application that addressed all 4 themes were essential to attain business success or improve business performance using MAS. The implications for positive social change include the potential to increased employment and reduced poverty in local communities by giving small business leaders a framework in decision-making to increase economic sustainability and growth

Essays on local currencies, development, and sustainable tourism

The past years brought challenges to humankind. This was not different to the tourism sector which needed to face travel restrictions and the perspective of changes in behaviour when travelling. As a consequence, this thesis aims to deal with new perspectives on tourism, addressing local development and well-being. This work is divided into three papers and brings three different propositions to improve local conditions and deal with visitors by using local currencies. The goal of local currencies is to allow money coming from out of the community to circulate in the local economy, possibly creating a virtuous circle. The first chapter treats the Maricá's case, a small city in Brazil that is implanting basic income for its inhabitants using oil royalties and a local currency called Mumbuca. It proposes a change in the engine of the city's economy, coming from oil to sustainable tourism, including tourism in the local financial framework. The second chapter proposes a balance in the negative externalities coming from visitors in favour of locals. To do so, it suggests a basic income coming from tourism, being paid through local currency. On the contrary, the last chapter proposes a kind of local cryptocurrency, based on cases in the literature and in specialized markets, in order to foment tourism and improve locals' well-being

Towards Resilient Organizations and Societies

This open access book brings together scholars in the fields of management, public policy, regional studies, and organization theory around the concept of resilience. The aim is to provide a more holistic understanding of the complex phenomenon of resilience from a multi-sectorial, cross-national, and multidisciplinary perspective. The book facilitates a conversation across diverse disciplinary specializations and empirical domains. The authors contribute both to theory testing and theory development and provide key empirical insights useful for societies, organizations, and individuals experiencing disruptive pressures, not least in the context of a post-COVID-19 world. Diverse chapters are held together by a clear organization of the volume across levels of analysis (resilience in organizations and societies) and by an original perspective on resilience derived from an extended review, by the editors, of the existing literature and knowledge gaps, according to which each of the individual chapter contributions is positioned and connected to

Nebraska Policy Choices: 1986

The purpose of the Nebraska Policy Choices series is to improve the basis for making state policy choices. This series tries to enhance Nebraskans\u27 awareness of their many alternatives for steering Nebraska into the future. Each annual volume in the series will provide a forum for considering the major issues facing the state and for identifying the various policy options or choices available to Nebraskans. The goals are to broaden public understanding and to promote informed and responsible choices among alternative policies

The Changing Economic Geography of Globalization

The process of globalization has had profound, often destabilizing, effects on space, at all levels (i.e. local, regional, national, international). This revealing book analyzes, both theoretically and empirically, the effects of globalization over space. It considers, through a dialogue among different paradigms, the ways in which space has become more important in the global economy. Globalization has been advocated as a way of shrinking time and space which will lead to a homogenized global market; a suggestion challenged in differing ways and with a variety of approaches by all the contributors to this volume. Leading authorities from a range of disciplines are represented amongst this impressive list of contributors, including Eric Sheppard, Bjørn Asheim, Richard Walker and Peter Swann. The chapters demonstrate persuasively the continuing, and even increasing, role of space in the global economy, and throughout, the book covers viewpoints from the fields of: international political economy economic geography regional and local economics. This impressive volume, which contains a selection of the best in contemporary scholarship, will be of interest to the international arena of academicians, policy makers and professionals in these or related fields