Paper Title
Recovery Strategies of MSMEs in Pampanga: A Basis for Emerging Resiliency Framework During COVID-19 Pandemic
Article Identifiers
Authors
Rowina M. Twano
Keywords
Micro, Small and Medium Enterprise (MSME), resiliency framework, strategies, pandemic,
Abstract
The study describes the coping strategies of MSME businesses in Pampanga during the COVID-19 pandemic, and to develop a resiliency framework appropriate for MSMEs on any disruptions cause by unforeseen events like the pandemic. The crisis had taken a huge toll on the economy, especially the MSMEs which effectively provide the majority of jobs in the economy, recognized as the leading vehicle for economic development were the hardest hit. The study is qualitative in nature, using phenomenological approach, data gathered during the interview were analyzed and categorized into themes that serve as the basis for the emerging resiliency framework. The various challenges of the MSMEs like decline in sales, laying off employees, temporary closure of business, liquidity problems, inability to pay debts, disruption in the supply of raw materials, tremendous uncertainty on what the future holds and the absence of business continuity plan, still, some businesses opted to see beyond the pandemic and realize the opportunities that lay behind the contagion. Opportunities like the emergence of new business markets beyond the area that businesses serve thru partnerships with other businesses, the change in behavior and preferences of consumer predominantly the change to online commerce of the consumers gave rise to the connection to digital system and IT industry, and innovation is the central point of the strategy. The MSMEs resiliency framework can be seen in the perspective of three categories, preventive, responsive and recovery strategies at the heart of the framework.
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How To Cite (APA)
Rowina M. Twano (July-2024). Recovery Strategies of MSMEs in Pampanga: A Basis for Emerging Resiliency Framework During COVID-19 Pandemic. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(7), g277-g288. https://ijnrd.org/papers/IJNRD2407530.pdf
Issue
Volume 9 Issue 7, July-2024
Pages : g277-g288
Other Publication Details
Paper Reg. ID: IJNRD_225661
Published Paper Id: IJNRD2407530
Downloads: 000121984
Research Area: Management
Country: San Fernando, Pampanga, Philippines
Published Paper PDF: https://ijnrd.org/papers/IJNRD2407530.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2407530
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Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)
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This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition
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