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Entrepreneurship and Sustainability Issues Open access
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DOI 10.9770/jesi.2023.10.3(4)
Reference to this article should be made as follows:
Mošková, E.; Brutovský, M.; Furiak, K.; Buganová, K. 2023. Business interruption management in the context of the COVID-19 pandemic for small and medium-sized enterprises in Slovakia, Entrepreneurship and Sustainability Issues 10(3): 58-72. https://doi.org/10.9770/jesi.2023.10.3(4)
Received: 2022-11-15  |  Accepted: 2023-01-29  |  Published: 2023-03-30

Title

Business interruption management in the context of the COVID-19 pandemic for small and medium-sized enterprises in Slovakia

Abstract

From the beginning of 2020 to the end of 2021, a nationwide survey was conducted to examine business interruption due to the COVID-19 pandemic and to identify the impact of the pandemic on SMEs in the Slovak Republic. It also focused on identifying areas such as risk management with BCM, and crisis management within individual enterprises. The survey was carried out using a questionnaire distributed to SMEs operating in the country. Based on the questions from the questionnaire, four research hypotheses were developed. Based on the results of our investigation, we found that enterprises cannot correctly assess their capability level and manage risks effectively, potentially exposing themselves to further threats arising from such a relationship. There is a correlation between the business sector and the extent to which an enterprise has been affected by a pandemic. Enterprises with implemented risk management areas had operations halted for shorter periods than enterprises without implementation. There is a relationship between business sectors and the extent to which they were affected by the pandemic. The discussion concludes that the pandemic posed a type of threat for which several SMEs were unprepared. At the same time, no established risk minimization procedures would address this issue. Effective implementation of risk management as prevention or crisis management as response and application of BCM principles is one of how enterprises could prepare for risks and crises and increase their resilience.

Keywords

business continuity management (BCM), COVID-19, crisis management, enterprise, resilience, risk management

JEL classifications

L21 , L26 , M51

URI

http://jssidoi.org/jesi/article/1053

DOI

DOI 10.9770/jesi.2023.10.3(4)

Pages

58-72

Funding

This research was supported by the project KEGA 026ŽU-4/2020 Innovation and internationalization of teaching as a tool to increase the quality of education at FBI UNIZA and Grant project UNIZA Model of risk management in connection with the impact of the COVID-19 pandemic on the business environment in the Slovak Republic.

This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Mošková, Erika
University of Žilina, Žilina, Slovakia https://www.uniza.sk
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Brutovský, Michal
University of Žilina, Žilina, Slovakia https://www.uniza.sk
Articles by this author in: CrossRef |  Google Scholar
Furiak, Kristián
University of Žilina, Žilina, Slovakia https://www.uniza.sk
Articles by this author in: CrossRef |  Google Scholar
Buganová, Katarína
University of Žilina, Žilina, Slovakia https://www.uniza.sk
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

10

Number

3

Issue date

March 2023

Issue DOI

DOI 10.9770/jesi.2023.10.3

ISSN

ISSN 2345-0282 (online)

Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 1159  |  PDF downloads: 482

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