European tech startups' responses to the COVID-19 pandemic: integrating McKinsey's 5R's paradigm and the Newtonian gravitational field
ISSN: 0025-1747
Article publication date: 28 February 2022
Issue publication date: 30 August 2022
Abstract
Purpose
Given the nature of corona chaos, tech startups confront strategic disorientation; therefore, this study aims to constructively engage with the theory development process in the area of management decision, adopt causal complexity with a configurational approach of McKinsey's 5R paradigm and the Newtonian gravitational field.
Design/methodology/approach
This study provides a novel conceptualization of systematic research of explanatory mechanisms for navigating the turbulence and consequences of the COVID-19 crisis. This configurational study shows how European tech startups adopt strategies in addressing COVID-19 challenges successfully.
Findings
The analysis reveals configurations that lead to the outcome of the conceptual model, namely, reimagining the equifinal paths to the next normal. The findings suggest that, in navigating the crisis, tech startups are able to seize market opportunities, capture technological opportunities and consolidate their future positions.
Research limitations/implications
The principal limitation consists of limited empirical evidence regarding tech startups’ ability to navigate Covid-19 crisis and choose the appropriate path to the next normal.
Practical implications
This study enhances European tech startups’ capability to adopt reflexivity and openness while navigating the Covid-19 chaotic context. Furthermore, the study provides a managerial toolkit to guide strategic decisions via deepening their understanding of the new created realities.
Originality/value
This study provides a novel conceptualization of systematic research on explanatory mechanisms for navigating the turbulence and consequences of the COVID-19 crisis context. This configurational study shows how European tech startups adopt strategies that address COVID-19 challenges successfully.
Keywords
Citation
Dragan, G.B., Bleoju, G., Capatina, A. and Woodside, A. (2022), "European tech startups' responses to the COVID-19 pandemic: integrating McKinsey's 5R's paradigm and the Newtonian gravitational field", Management Decision, Vol. 60 No. 9, pp. 2615-2636. https://doi.org/10.1108/MD-11-2021-1428
Publisher
:Emerald Publishing Limited
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