The USV Annals of Economics and Public Administration, Vol 23, No 2(38) (2023)

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CRISIS AS AN OPPORTUNITY OF ACCELERATED DEVELOPMENT FOR THE BUSINESS ENTITIES

Giorgi Katamadze, Natela Tsiklashvili

Abstract


In the context of corporate activities on an unprecedented scale, the economies of the nations of the modern world have to cope with a number of challenges, some of which frequently develop into issues. Any crisis that needs to be resolved requires careful planning, detailed implementation, and a substantial investment of human and financial resources. On the one hand, a crisis hampers business processes, and on the other hand, it may well turn into an opportunity for quicker business development. The present paper aims at analyzing the process of introduction of an online service – as one of the areas of business development – on the example of business entities carrying out their activities in the Republic of Ajara A.R. The research has been targeted at small and medium businesses of HoReCa sector only. The study has been carried out using an interdisciplinary methodology, namely in-depth interviews with business entities, as well as a survey of business entities in respect to particular components of the research.

 

It was revealed that the business sectors that have developed rapidly in recent years in terms of crises and restrictions caused by the pandemic are the following:

·        online trade;

·        delivery services;

·        online educational platforms;

·        Computer and communication business;

 

The analysis showed that:

·        The rapid development of online services of the majority of business entities was significantly caused by the Covid-19 pandemic;

·        Most business entities would not have considered implementing of these services if not the pandemic restrictions;

·        Most businesses think the crisis caused by the pandemic and force majeure to be the reason for the rapid development of their business;


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                     Ştefan cel Mare University of Suceava                   Faculty of Economics, Administration and Business
 

 

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