Business Model Adaptations in Times of Crisis: Same Industry, Same Lockdown, Different Paths

Bitetti, Leandro and Gibbert, Michael and Bedolla, Mattia (2021) Business Model Adaptations in Times of Crisis: Same Industry, Same Lockdown, Different Paths. In: 28th Innovation and Product Development Management Conference, Virtual. (Unpublished)

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Abstract

Business model adaptation is often required to thrive in times of crisis. Nevertheless, not all players within an industry are able to adapt their business model. This could be partially explained by the fact that some firms manage to absorb the crisis and do not need a new business model to succeed. Though, the COVID-19 pandemic and the decisions made by the authorities about the lockdown for restaurants in Switzerland are having a longer duration compared to what most restaurant business owners expected. Therefore, restaurants are asked to possess or develop core competences for being adaptive resilient and adapt their business model with a delivery option. We employed a multiple embedded case study design to assess why some restaurants managed to adapt, while others did not. The findings show that path dependence and dominant logic constrained the process of business model adaptation for the non-adaptive restaurants, while the same constraints enabled business model adaptation for adaptive restaurants. We assessed that the enabling nature of path dependence and dominant logic facilitates the development of core competences for being adaptive resilient. The study contributes to the literature by assessing the dual nature of constraints as also enabler of business model adaptation. We also offer some practical implications at the level of policy-making, entrepreneurship education, and small business management.

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