Toward a Business Resilience Framework for Startups
Abstract
:1. Introduction
2. Literature Review
2.1. Business Resilience
2.2. Drivers of Business Resilience
2.3. The Impact of the Global Pandemic
3. Research Method
3.1. Data Collection Process
3.2. Data Coding and Interpretation of Findings
3.3. Respondents Profile
4. Findings
4.1. Case Study
Variables Identified | A1 | B1 | C1 | Conclusion |
---|---|---|---|---|
Dynamic Capability | ||||
Sensing [64] | The first thing we did was customer discovery. | The challenge we’re currently facing is choosing our priorities | We need to conduct some research on market industry needs, because they are the one that will pay us, so we need to know their demands first. | Startups identify customer needs by conducting market research and setting priorities |
Seizing [65] | Data …what distinct us from the rest is how we conduct user acquisition. Other companies conduct user acquisition through social medias, SIO, etc, focusing on the user or the jobseeker. In our case, we focus on universities. | …gain more market and market penetration | On social distancing we also have an increase on disinfectants, because people were looking for it, and we need to send our products on huge volume | Startups take action based on the opportunities they have identified |
Transforming [63,65] | The strategy to increase sales is: first, to finish every aspect of product legality. Second, how we shift to doing workshops intensively. | Specifically for the employees, there’s an additional change in their KPI. The KPI used to be performed in every 2 weeks, now it’s performed daily, and it needs to be performed by each employee independently. | We’re intensifying on reseller aspect. Before the pandemic, we chose not to be focused on partnerships or consignment, so we’ve never really focused on reseller. | Startups make changes to work patterns by implementing strategies that are tailored to the conditions of their organization |
Technology Capability | ||||
Technology infrastructure capability [72] | Regarding the infrastructure, sometimes the workers complained about it. So additional investment is needed. | Including now, since we rent 2 office buildings with capacity of 60–70 people, which is currently resided by 15 people. We might not renew the rent next year, since we are getting used to WFH. | WFH is not completely work from home. During production time, they need to do it in the office/factory. | Startups provide physical infrastructure in the form of office buildings to support the work process, and facilitate online platforms for employees who work at home |
Technology Business Development Capability [72] | We don’t really have any problem during this pandemic. The ads are still going, no budget is being cut. We only cut the one that didn’t perform. | We’re focusing on our tech team to work hard, so when the system is developed and ready, we’re going to offer it to companies that need it. | We promote our product digitally. | Startups have the ability to understand the value of investing in technology without cutting into the main budget. In addition, startups are also preparing systems for developing their businesses in the face of a pandemic by maximizing the development of digital technology. |
Technology Proactive Stance [72] | Some improvements need to be made, so we’re focusing on digital improvement. | We help by providing a platform, where people managing the pre-work card system can utilize the automation, for example, they can send the certificate to every single participant by email in just one click. | We were finally able to do online workshop. We showed the audience some demonstration regarding our product and sent them the materials so they would be able to use the app at home. | Startups take the initiative to provide technology platforms so that people can access their products. |
Agility Leadership | ||||
[12,80,111] | We define this organization more flexibly and adaptively, for example with a work from home system. Workers continue to carry out their responsibilities by working at home. | We emphasize to the teams that the success of the organization is our responsible, so we have to the same purpose to achieve that. | We have changed our business process soon since this pandemic with include the crisis management. | Startups use organizations more flexibly and adaptively. In addition, startups also take the initiative to collaborate in maintaining their business. |
We’re focusing on collaborations. We also have a lot of students, close to 100.000. And other start-ups feel that collaborations will be very beneficial. | ..we realized that developing product by ourselves requires some more research to be conducted, so we finally decided to collaborate | Collaborations are something we can do during this pandemic, and the cost is really affordable too. | ||
Knowledge Stock | ||||
[84,85,112] | Our educational background provides an essential knowledge base of how to run a business. | We have several years of experience in this business, and previously we had experience in other fields even though the business was not running, but at least it gave us experience on how to maintain business. | We try to provide knowledge about health to the public through online workshops while promoting our products. Thus, we do not only sell the products, but also provide knowledge to the community. | Startups have a knowledge stock with an adequate educational background and experience. They use their knowledge stock to resilience their business. |
Innovation Ambidexterity | ||||
Exploration [10,95] | We can try to do things differently in the future, like tackling different approaches on some of our usual activities. | We have created some new innovations during Covid-19. One of them is we have established product for map-based analytics. | We realized that continuous innovation is very important. So we do that, we try to innovate in product development. | Startups make innovations with an orientation towards improvement and efficiency. |
Exploitation [10,95] | Presently, our tech teams such as programmer, etc. are focused on developing our existing technology in order to extend our revenue stream or maybe create a new business line. | We created the application in hope of restoring balance between health and economy. We facilitate the big data technology and the mobile app. | We have some products in development this year; one of those is hand sanitizer. At first, we only have disinfectant, and we are finally able to develop hand sanitizer product during this pandemic. | Startups seek to exploit with a priority to produce new innovations |
Business Resilience | ||||
[22,113] | We have 40 people in total in our team; we managed to keep everything in check this far. But if there comes the need to layoff, it wouldn’t be just because of Covid-19, but it because their poor performance and not being able to adapt. | Efficiency policy and investment or innovation policy. For efficiency policy, the first thing we did is pay cut. Then, we applied Work From Home (WFH) policy. The other policy is for innovating or invests. | Since 50% revenue come from bazaar, the revenue stream is highly affected. That’s why our strategy is to create online workshops and build networks | Startups maintain system functionality under compromised conditions. They try to take precautions by designing business strategies to deal with the pandemic. |
4.2. Conceptual Framework Development
5. Discussions and Conclusions
6. Recommendation and Future Research Direction
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Conflicts of Interest
References
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Aldianto, L.; Anggadwita, G.; Permatasari, A.; Mirzanti, I.R.; Williamson, I.O. Toward a Business Resilience Framework for Startups. Sustainability 2021, 13, 3132. https://doi.org/10.3390/su13063132
Aldianto L, Anggadwita G, Permatasari A, Mirzanti IR, Williamson IO. Toward a Business Resilience Framework for Startups. Sustainability. 2021; 13(6):3132. https://doi.org/10.3390/su13063132
Chicago/Turabian StyleAldianto, Leo, Grisna Anggadwita, Anggraeni Permatasari, Isti Raafaldini Mirzanti, and Ian O. Williamson. 2021. "Toward a Business Resilience Framework for Startups" Sustainability 13, no. 6: 3132. https://doi.org/10.3390/su13063132
APA StyleAldianto, L., Anggadwita, G., Permatasari, A., Mirzanti, I. R., & Williamson, I. O. (2021). Toward a Business Resilience Framework for Startups. Sustainability, 13(6), 3132. https://doi.org/10.3390/su13063132