Entrepreneurship in Times of Crisis: Strategies and Experiences of Improvisational Actions in Small and Medium-Sized Enterprises

Document Type : Original Article

Authors

Department of Industrial Management (Entrepreneurship), Faculty of Economics and Administrative Sciences, University of Mazandaran, Babolsar, Iran.

Abstract

The present study aims to identify effective strategies and best practices of entrepreneurial actions in dealing with crises among small and medium-sized enterprises (SMEs) in Mazandaran Province. From a research purpose perspective, this study is applied in nature, and in terms of data collection, it employs a mixed-methods approach (qualitative and quantitative).



In the qualitative phase, data were gathered through semi-structured interviews with 20 successful and experienced entrepreneurs who had managed businesses during crises. The data were analyzed using thematic analysis based on the Braun and Clarke model. A purposive and snowball sampling technique was adopted, continuing until theoretical saturation was achieved.



In the quantitative phase, 320 entrepreneurs from SMEs were selected using proportional stratified random sampling, and they completed a researcher-designed questionnaire. The validity and reliability of the instrument were confirmed through expert review and Cronbach’s alpha. The quantitative data were analyzed using structural equation modeling (confirmatory factor analysis) in SMART PLS software.



The findings revealed five key strategies that played the most significant roles in sustaining and ensuring the success of the studied firms during crises:



Rapid adaptation of the business model,



Product or service innovation,



Bold and risk-oriented decision-making,



Leveraging social networks and support systems, and



Leadership and human resource management.



All paths were statistically significant, and the model’s goodness-of-fit indices were assessed as strong. Furthermore, it was found that having a flexible business model and utilizing supportive networks were the most influential factors in successfully overcoming crises.



This research highlights the importance of innovation, courageous decision-making, leadership in human resources, and reliance on network-based support during crisis situations, and provides recommendations for enhancing the resilience of entrepreneurs in the region.

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History

  • Receive Date: 19 July 2025
  • Revise Date: 18 September 2025
  • Accept Date: 21 September 2025

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