The Effect of Risk, R&D Intensity, Liquidity, and Inventory on Firm Performance during COVID-19: Evidence from US Manufacturing Industry

A conceptual framework for identifying sustainable business practices of small and medium enterprises

Purpose

The purpose of the current paper is to identify the factors responsible for achieving business sustainability. This paper further attempts to develop a conceptual framework that can help SMEs to achieve viable business growth through improved sustainable performance.

Design/methodology/approach

The study follows a methodical examination of literature published on SMEs during COVID-19. Specifically, the combination of keywords has primarily centred on SMEs, Business Practices, COVID-19 and Pandemic. The 155 research papers identified for the analysis have been classified as per geographical spread, type of papers, central theme, and theoretical foundations, which finally is followed by rigourous thematic analysis.

Findings

This research contributes to the SME literature by providing methodological, conceptual and practical rigour. The framework proposed by the research covers all the relevant areas which can be useful in preparing sustainable business trajectory for SMEs. It outlines the required directives for designing sustainable business practices for SMEs and includes macro and micro determinants. It also opens up future research avenues in different areas identified in the research. Future research can be performed on comparing business practices of SMEs across the emerging and developed economies.

Practical implications

In this study, we propose a framework that enables the design of sustainable business practices and thereby supports SMEs to combat any uncertain events or shocks. SMEs that can work on adopting sustainable business practices may sculpt novel avenues for growth and competitive advantage for their business.

Originality/value

The study is distinctive in nature as it is based on the examination of literature published during a phenomenological event (COVID-19) which depicts the sudden and unaccounted disruptions faced by SMEs and thereby strategies formulated around the significant glitches.

The Relationship between Prevention and Panic from COVID-19, Ethical Principles, Life Expectancy, Anxiety, Depression and Stress

The present study aims to assess the relationship between prevention and panic from COVID-19, ethical principles, life expectancy, anxiety, depression, and stress in auditors and financial managers of small- and medium-sized Iraqi firms. In other words, this paper seeks to answer the question of whether different types of prevention and panic from COVID-19 can enhance the ethical principles, life expectancy, anxiety, depression, and stress, or not. The study method is practical in its objective and descriptive survey procedure. The study's statistical population includes 185 employed auditors in audit firms, and 215 financial managers of small- and medium-sized Iraqi firms were selected as a sample of the study using the Cochran Sampling Method. In this paper, PLS tests are used to assess the effect of independent variables on the dependent variable. The results indicate no significant relationship between prevention from COVID-19 and ethical principles and life expectancy. However, the association between prevention from COVID-19 and anxiety, depression, and stress, and between panic from COVID-19 and ethical principles, life expectancy, anxiety, depression, and stress is positive and significant. The higher the panic from COVID-19, the more ethical principles, life expectancy, anxiety, depression, and stress. Since no study has been carried out so far on the effect of prevention and panic from COVID-19, ethical principles, life expectancy, depression, and stress in Iraqi firms, the present study results can provide valuable information and contribute to the development of science and knowledge.

Travel-Business Stagnation and SME Business Turbulence in the Tourism Sector in the Era of the COVID-19 Pandemic

The COVID-19 pandemic, apart from having an impact on public health, has also caused the stagnation of travel-bureau businesses and the management of small and medium enterprises (SMEs) in the tourism sector. This study aims to analyze the COVID-19 pandemic as a determinant of travel-business stagnation and turbulence in small and medium enterprises (SMEs), the influence of human resources, business development, and product marketing on the productivity of the travel and SME business, the direct and indirect effects of business innovation, economic digitization, and the use of technology on business stability and economic-business sustainability. This study uses an explanatory sequential qualitative–quantitative approach. Data were obtained through observation, in-depth interviews, surveys, and documentation. This study is focused on assessing the efforts made by travel-agency-business actors and SMEs in responding and adapting to changes in the business environment, both internally and externally. Human resources, business development, and product marketing together affect the productivity of travel agents and SMEs with a coefficient of determination of 95.84%. Furthermore, business innovation, economic digitization, and the use of technology simultaneously affect business stability with a coefficient of determination of 63.8%, and business stability affects the sustainability of travel and SMEs with a coefficient of determination of 67.6%. This study recommends a strategy for travel-agency-business sustainability and the stability of SMEs’ economic-business management towards increasing economic growth in the North Toraja Regency, South Sulawesi, Indonesia.