Changes and Adaptations of Business Models Caused by the Crisis Scenario
Changes and Adaptations of Business Models Caused by the Crisis Scenario

Author(s): Pavel Adámek, Lucie MEIXNEROVÁ
Subject(s): Social Sciences, Economy
Published by: Udruženje ekonomista i menadžera Balkana
Summary/Abstract: Due to the fast-changing environment caused by the impact of the pandemic, a response to companies’ behavior is inevitable. These pandemic crisis scenario triggers searching for changes, adjustment, and adaptation of business models to seek new opportunities for competitive advantage. Therefore, the paper aims to analyze, identify and evaluate the impact of a pandemic on a firm´s business model, specifically to changes in its business elements. The research methodology applies a statistical apparatus mainly the Mann-Whitney U test, using the econometric software EViews for identifying the significance of individual business model elements within national economy sectors and branches before the pandemic and the current post-pandemic crisis. Data were obtained from 173 Czech and Slovak companies’ owners (executives). The findings represent the perception and view of businesses on the current post-pandemic crisis and their priorities changes in specific elements of business model.

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