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Effective business model adaptations in family SMEs in response to the COVID-19 crisis

Sofia Brunelli (FABULA (Family Business Lab), Università Cattaneo - LIUC, Castellanza, Italy)
Rafaela Gjergji (FABULA (Family Business Lab), Università Cattaneo - LIUC, Castellanza, Italy)
Valentina Lazzarotti (FABULA (Family Business Lab), Università Cattaneo - LIUC, Castellanza, Italy)
Salvatore Sciascia (FABULA (Family Business Lab), Università Cattaneo - LIUC, Castellanza, Italy)
Federico Visconti (FABULA (Family Business Lab), Università Cattaneo - LIUC, Castellanza, Italy)

Journal of Family Business Management

ISSN: 2043-6238

Article publication date: 27 June 2022

Issue publication date: 2 March 2023

524

Abstract

Purpose

The present paper aims at exploring effective business model adaptations in response to unexpected events such as the COVID-19 pandemic.

Design/methodology/approach

The authors test the effect of two major business model adaptations, namely changes in the value proposition and changes in the target market, on a sample of 96 family SMEs.

Findings

Results show that only changes in the value proposition had a positive and significant impact on performance, helping family SMEs to better confront COVID-19. However, this effect is reduced in the case of target market change.

Originality/value

To the best of the authors’ knowledge, this is the first study to investigate how business model adaptations in family SMEs affect performance in crisis situations.

Keywords

Acknowledgements

The authors would like to thank the Guest Editor Marina Dabić and the anonymous reviewers for their valuable comments that improved the quality of the paper. The authors also thank KPMG, Credit Suisse, MCP and Bcentric for their support in data collection. The authors are also indebted to Andrea Calabrò, Mara Brumana and to the participants of the 16th EIASM Workshop on Family Firm Management Research, the 5th PISB workshop and the EuFBC seminar series for their constructive feedback.

Citation

Brunelli, S., Gjergji, R., Lazzarotti, V., Sciascia, S. and Visconti, F. (2023), "Effective business model adaptations in family SMEs in response to the COVID-19 crisis", Journal of Family Business Management, Vol. 13 No. 1, pp. 101-117. https://doi.org/10.1108/JFBM-02-2022-0020

Publisher

:

Emerald Publishing Limited

Copyright © 2022, Emerald Publishing Limited

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