Changes and Adaptations of Business Models Caused by the Crisis Scenario

Pavel Adámek – Silesian University in Opava, School of Business Administration in Karvina, Univerzitní nám. 1934/3, 733 Karviná, Czech Republic
Lucie Meixnerová – Silesian University in Opava, School of Business Administration in Karvina, Univerzitní nám. 1934/3, 733 Karviná, Czech Republic

7th International Scientific-Business Conference – LIMEN 2021 – Leadership, Innovation, Management and Economics: Integrated Politics of Research – SELECTED PAPERS, Online/virtual, December 16, 2021, published by the Association of Economists and Managers of the Balkans, Belgrade; Printed by: SKRIPTA International, Belgrade, ISBN 978-86-80194-53-0, ISSN 2683-6149, DOI: https://doi.org/10.31410/LIMEN.S.P.2021

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.

LIMEN Conference

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